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122

A Global Trend»

China major announces reserve downgrade...

A Global Trend»

Chinese oil major Sinopec has joined some of its Western counterparts as it announced cuts to proven oil and gas reserves, this week unveiling a 3.5% reduction following the reclassification of reserves in the Xihu Trough in the East China Sea. The downgrade took the state firm's proven reserves to 3.74 billion bbl of oil equivalent.


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