Reporting oil companies’ proved reserves in 2016 decline for second consecutive year

Annual reports of 68 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year. The decline in proved reserves was heavily concentrated in a few companies that reduced their estimated reserves from Canadian oil sands projects. Source: Today in Energy – Reporting oil companies’ proved reserves in 2016 decline for second consecutive year

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Source: CTRM Center

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