You're listening to the oil and gas this week podcast with Mark LeCore and Paige Wilson.

This is the show for busy oil pros who quickly want to keep their finger on the pulse of the industry.

You know, who quickly want to keep their finger on the pulse of the industry. You're listening to the oil and gas this week podcast brought to you by API.

It's the show for busy oil pros want to quickly keep their finger on the pulse of the industry.

Thanks for joining us for episode 351.

Page.

Yes.

There's a whole bunch of people staring at us right now. I'm getting used to that, but I know. And I recognize some faces out there. Raise your hand if you listen to Oil and Gas this week, this podcast, we're getting ready to record. Awesome. Thank you for being a listener because without y'all, it would just be Paige and I talking to ourselves, which would be kind of weird. The other thing I want to mention is we did this last year, had a great turnout, but it also rained on us last year. So if we bring the weather with us next year, you know it's us. Yes, absolutely, 100%. You want to get to the review? Yeah. Comes from Peter Kinnick, a five-star review for Oil and Gas This Week podcast. I'm a small private oil tanker investor and have gathered lots of insights because of weekly listening. Very interesting how Mark and Page handle all the news and explain the impact on the industry and markets. Keep up the good work and best regards from the Netherlands.

Yeah. So if you'd like a shout out like Peter, all you have to do is leave us a review. We love the five stars. We'll take the three stars. Let's get into the news stories. All right. First up, top seven oil companies by proved reserves. Yeah, so this is really interesting and very important. In our industry, the people that don't like us use a term called big oil.

And they use the word in a negative connotation.

And what they don't understand is that proven reserves or barrel under reserves is a legal definition.

It's a financial definition.

And it used to be that the American European super majors had the most barrels under reserves or proven reserves.

That was Shell, BP, Chevron, Exxon. However, the American and European super majors are being

squeezed out of areas to drill and look for an explore. So now the top companies under reserves

actually saw their RAMCO.. They're estimated almost 260 billion

barrels under reserves. That means they know with a 100% degree of certainty that if they need it

to, they can withdraw 260 billion barrels from the reservoirs that have right now. Now,

Saudi Aramco produces about nine million barrels of oil a day, which is about a tenth of the

world's total,

so it's significant. And the reason that Saudi Aramco is worth its massive $1.8 trillion,

that's with a T trillion dollar valuation, is the barrels under reserve. However, their

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