Shell cuts proved reserves by 20 percentMove sends shock waves through oil industry Petroleum News
Shell’s decision to reduce its proved reserves by 20 percent or an astonishing 3.9 billion barrels of oil equivalent has cast a cloud over oil and gas companies worldwide and the manner in which they book reserves, a key factor in valuating a publicly traded company.
Shell’s Jan. 9 disclosure also....
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Affected reserves in Nigeria, Australia Reserves booked between 1996 and 2002
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