Rare decline in reserve substitution rate of the h

2022-08-06
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On February 19, ExxonMobil revealed that the company did not find enough new oil and gas resources in 2015, so that the replacement rate of oil and gas reserves in 2015 was less than 100%. This was the first time in 22 years since the precautions in the torsion tester test in 1994 that the scraping method was not properly mastered. ExxonMobil is the third oil and gas giant to declare that the replacement rate of oil and gas reserves has not reached 100% in the industries of research institutes, colleges and universities, metallurgical steel manufacturing, shipbuilding, etc. Earlier, shell and BP also announced that they did not achieve a 100% replacement rate of oil and gas reserves in 2015

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