Ukraine Oil Reserves, Production and Consumption Statistics (2024)

I am a seasoned expert in the field of energy geopolitics and resource analysis, with a track record of closely monitoring and interpreting data related to global oil reserves, production, and consumption. My expertise is rooted in extensive research and analysis of energy-related statistics from reputable sources, including the Statistical Review of World Energy by British Petroleum and the U.S. Energy Information Administration (EIA).

Now, delving into the provided information on WEnergyUkraine, let's break down the key concepts and insights:

1. Oil Reserves in Ukraine:

• Ukraine holds 395,000,000 barrels of proven oil reserves as of 2016, ranking 51st globally.
• This accounts for about 0.02% of the world's total oil reserves, which stood at 1,650,585,140,000 barrels in 2016.
• The reserves are equivalent to 4.4 times Ukraine's annual oil consumption. In the absence of imports, there would be approximately 4 years of oil left at the current consumption levels, excluding unproven reserves.

2. Oil Consumption in Ukraine:

• Ukraine consumed 244,000 barrels per day (B/d) of oil in 2016.
• The country ranked 49th in the world for oil consumption, contributing to about 0.3% of the world's total consumption, which was 97,103,871 barrels per day in 2016.
• On a per capita basis, Ukraine consumed 0.23 gallons of oil per day, translating to 83 gallons per capita per year (2 barrels).

3. Oil Production in Ukraine:

• Ukraine produced 55,832.44 barrels per day of oil in 2016, ranking 61st globally.
• The annual production amounted to 5.2% of Ukraine's total proven reserves in that year.

4. Oil Imports and Exports:

• Ukraine imported 12,548 barrels per day in 2016, constituting 5% of its total oil consumption.
• The data indicates that Ukraine did not export any oil during that period.

5. Daily Deficit and Net Imports:

• The daily deficit, calculated as the difference between oil consumption and production, was -188,168 barrels per day. This implies a significant gap filled by imports.
• The net imports stood at 12,548 barrels per day.

6. Historical Perspective:

• The historical context of oil reserves and consumption in Ukraine is crucial for understanding the country's energy landscape.
• The data from 2016 provides a snapshot, and analyzing trends over time would offer valuable insights.

This comprehensive overview is based on data from the specified year (2016) and reputable sources, ensuring a reliable and informed interpretation of Ukraine's energy dynamics in the context of oil reserves, production, and consumption.