Oil majors brace for new reserves hit

摘要

London-Global oil majors failed to replace their production with new resources last year and are set to report even more disappointing figures for 2015 as lower oil prices effectively shrink their closely watched proven reserve volumes. The world’s seven biggest integrated oil majors replaced an average 84% of their proven reserves in 2014, according to company data, snapping an industry average of above 100% in recent years.