Middle East Economic Survey

VOL. XLVII

No 47

22-November-2004

SUPPLY/DEMAND

Mitchell Assesses UNFC Proposal On Oil Reserves Methodology

The recent furore over the booking of oil reserves by international oil companies in corporate accounts has once again highlighted the fact that oil reserve estimates are carried out according to widely different methodologies. Furthermore, while the US SEC requirements apply strict conditions on the reporting of proven reserves, governments of oil producing...