No 19



OilMajors Reserves: Volumes, Values And Implications

ByNick Antill

The following article was writtenfor MEES by Nick Antill, an associate of the OxfordInstitute for Energy Studies.

Thesubject of reserve replacement is an enormous one and requires some framing ifit is to be tackled in an article. Whose reserves are we discussing, and why?What sort of reserves, just oil or gas? Are we interested in volumes or values?Why does it matter, and what are we trying to...