biggest reserve revision in history of oil industry
Posted: Tue 01 Nov 2016, 15:03:28
http://priceofoil.org/2016/10/31/exxon- ... mans-land/
Exxon “Enters No Man’s Land”
Exxon “Enters No Man’s Land”
Something significant happened on Friday that warrants more than just a few column inches in a newspaper.
With the most divisive Presidential election in US history just days away from concluding, it is easy to understand why more is not being made of the news, but just to tell you something seismic happened on Friday last week.
The world’s largest listed oil company, Exxon, announced that it was going to have to cut its reported proved reserves by just under a fifth – by 19 per cent.
It would be the biggest reserve revision in the history of the oil industry. ..