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UAE Upgrades Recoverable Reserves to 100 Billion Barrels

The UAE has embarked on a massive upgrading of its oil and gas reserveestimates. According to the UAE Oil Minister, Dr. Mana Saeed al-Otaiba, who wasspeaking on 27 October at a ceremony to mark the twenty fifth anniversary of thefirst shipment of crude oil from Abu Dhabi, the UAE's reserves of oil in placecurrently amount to 200bn barrels, while recoverable reserves stand at 100bnbarrels using a recovery...