What country owns 18% of the world's oil?

Written by Editorial Team | Last Updated: August 2026

Venezuela holds the world's largest proven petroleum reserves, commanding roughly 18% (approximately 17% to 18%) of global proven oil reserves (totaling over 300 billion barrels). Concentrated primarily within the vast extra-heavy crude deposits of the Orinoco Belt, these massive subterranean hydrocarbon reserves require specialized extraction and heavy refining infrastructure due to their dense, high-sulfur composition.

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Equinor ASA is often analyzed as a value stock due to its low price-to-earnings ratio and its reliable dividend yield, which are common hallmarks of value-oriented investments in the energy sector.

As of July 14, 2026, Equinor ASA (EQNR) is considered modestly overvalued by GuruFocus's proprietary GF Value™ measure. With a market price of $36.06, the stock is trading about 17.2% higher than its estimated intrinsic value of $30.77.

Equinor, the Norwegian multinational energy corporation, was historically known for decades as Statoil (and briefly StatoilHydro following a major corporate merger).

Equinor ASA (EQNR) is a major Norwegian integrated energy company, and whether it is a "good" buy is a matter of ongoing analyst debate. As of July 2026, the analyst consensus is generally a "Hold.

Executive compensation for Mark J.

Norway has proactively prepared for a post-petroleum future through its massive Government Pension Fund Global, commonly known as the oil fund, which invests surplus state petroleum revenues into global equities, bonds, and real estate to secure long...

Equinor generates its primary revenue by exploring for, developing, and producing crude oil, natural gas, and refined products across global resource basins.

Equinor ASA shares trade on the New York Stock Exchange under the ticker EQNR at a live market price of approximately $39.82 per share.

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Whether Equinor (EQNR) is a "good" buy is debated, with current analyst consensus trending toward "Neutral.

As of July 2026, the analyst consensus for Equinor (EQNR) is "Neutral." This rating is based on insights from 25 analysts, with 3 recommending a buy, 7 suggesting a sell, and 15 recommending a hold.

The stock ticker symbol EQNR represents Equinor ASA, which is a major multinational energy company headquartered in Stavanger, Norway.

Energy stocks remain a polarizing topic for investors balancing the immediate appeal of high cash distributions and generous dividend payouts against long-term energy transition trends.

Yes, Equinor ASA carries significant debt. According to the company's latest financial reports as of March 2026, its total debt—the sum of all current and non-current financial obligations—stands at approximately $31.85 billion USD.