ExxonMobil made headlines last month when it slashed its proved reserves the most in modern history after removing the $16 billion, 3.5 Bbo Kearl oil sands projects from its books. Shortly before Exxon’s news, ConocoPhillips announced that its reserves fell to a 15-year low after removing 1.15 Bbo from the oil sands. The combined 4.65 Bbbl removed by Exxon and Conoco is worth $183 billion based on Feb. 22 WCS prices. These moves were......
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