Exxon Mobil has slashed the proved reserves category in its books
- By around 3.3 billion barrels
- The untapped crude revision has been triggered by lower energy prices, this has made it mathematically impossible to harvest those fields at a profit in the near future
- The biggest cut came in de-booking Canada's 3.5-billion barrel Kearl oil-sands project
- The equivalent of 800 million barrels in other North American fields beyond the Kearl were also removed from proved reserves
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This is via Bloomberg - there is more there
(ps. I'm not sure how fresh this news is, the oil people may have been on to it earlier)
