The US Energy Information Administration on June 12 looked at the
decline in proved oil and liquid reserves of publicly traded oil
companies.
“Annual reports of 68 publicly traded oil companies indicated that
their aggregate proved liquids reserves declined in 2016 for the second
consecutive year,” the EIA said in a press release.
“The decline in proved reserves was heavily concentrated in a few
companies that reduced their estimated reserves from Canadian oil sands
projects. Downward revisions of existing resources, relatively low
extensions and discoveries, and relatively high production also
contributed to a decline in proved reserves,” the EIA said, adding that
the 68 oil companies included in this analysis are listed on US stock
exchanges and consequently are required to report their proved reserves
annually to the US Securities and Exchange Commission.
Collectively, their global crude oil and other liquids production
averaged 24 million barrels per day during 2016, or about 25% of the
global total, the EIA said.
https://www.neweurope.eu/article/eia-oil-companies-proved-oil-liquid-reserves-drop-2016/