Abstract: The history of petroleum reserves classifications in China is reviewed. Two systems of petroleum reserves classifications applied in the world are proposed conclusively, they are, the assured reserves classification system and the probabilistic reserves classification system. Based on these, three critical differences in petroleum reserves classifications and management modes at home and abroad as well as the revision of domestic classifications are discussed. Some specific suggestions are put forward herein: 1) remain existing basic frame work for domestic reserves classification; 2) eliminate proved reserves classification;3) change technically recoverable reserves intoeco nomically recoverable reserves;4) introduce and generalize the probabilistic classification, and 5) subdivide the reserves classifications in terms of the China’s petroleum reserves classification system to meet the demand of the petroleum industrial development.

Key words: crude oil, natural gas, reserves, classification, revision