Petroleum Reserves in Question

Estimates of future production combine information and assumptions about economics, feasible technology and geology. To use reserve estimates sensibly in planning, policy and analysis it is necessary to have some understanding of how they are generated and to have confidence in the integrity of the estimating process. Strict conditions are applied by enterprises reporting ‘proven’ reserves for financial purposes in the US, but these exclude information about firms’ potential other sources of production.

By: John Mitchell

Latest Tweets from @OxfordEnergy

  • Are Asian LNG Spot Prices Finally Decoupling from Oil? https://t.co/VwFrnNJHUS

    May 20th

  • Vitaly Yermakov quoted on the contamination of the Druzhba pipeline: Transneft was caught off guard because this ha… https://t.co/aOpNycyXbg

    May 19th

  • Natural Gas Vehicles are still increasing worldwide but electric vehicles are increasing more quickly. Do trucks pr… https://t.co/rooCJ7wvra

    May 14th

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.