Abstract:

There is great difference between the petroleum resources used in China and the concept of resources commonly used in the world, which would easily result in confusion and misunderstanding. So, we especially regard the resources used in China as geological resources, which can be called recoverable resources after it has been revised with its economic availability and predicted recovery.It can then be approximately correlated with the resources in the world. Based on the composite volume of proved reserves and geological resources in 2000 to be 1035?10⁸t, and the recoverable resources is calculated to be 116.1?10⁸t,correspondingly, the degree of resources to be proved is 52.2%. After averaging the 16 values independently estimated by different geological experts in different periods, the recoverable resources is about 132.5?10⁸t. Being compared to the equivalent values, the recoverable oil resources in China is slightly higher than that of natural gas.For both resources and undiscovered oil recoverable resources, eastern China ranks first, and the second would be north-western China and the continental shelf.

Key words: oil, resources, recoverable resources, degree of resources to be proved