KAR 4.92% $1.92 karoon energy ltd

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    I always suggest that persons interested in Oil first read the book called "The Prize" by Daniel Yergin ISBN 0-671-71189-X.
    His writings show an accurate and deep understanding of the ultimate prize in the 20th Century- Oil
    The Notes and Bibliography are an excellent source of material for any student, investor or participant in the Oil Industry.
    For current information on Primary Energy I suggest the "BP Statistical Review for 2016" which is on line at BP.com
    The various charts and tables present the Global position as at the end of 2015.
    The data is in my view as accurate as we are able to get given as BP states the lags in data from source countries.
    The following is a taste of the BP data ( see page 7):

    "Global proved oil reserves in 2015 fell by 2.4 billion barrels (-0.1%) to 1697.6 billion barrels, just the second annual decline in our data set (along with 1998). Reserves have nonetheless increased by 24%, or 320 billion barrels, over the past decade; and are sufficient to meet 50.7 years of global production. Brazil recorded the largest decline, with proved reserves falling by 3.2 billion barrels, while Norwegian proved reserves grew by 1.5 billion barrels. OPEC countries continue to hold the largest share (71.4%) of global proved reserves. On a regional basis, South & Central American reserves have the highest R/P ratio, 117 years. Lags in reporting official data mean that 2015 figures for many countries are not yet available"

    Page 40 sets out the world consumption by country of Primary Energy. The US and China consume 40% of the worlds energy. Australia consumed 1%.
 
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$1.92
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