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Oil company additions to proved reserves in 2017 were the highest since 2013

regional proved reserves for 83 publicly traded oil companies, as explained in the article text
Source: U.S. Energy Information Administration, based on Evaluate Energy
Note: Rest of world includes associated companies’ reserves with unspecified geographies.

In 2017, a group of the world’s largest publicly traded oil and natural gas producers added more hydrocarbons to their resource base than in any year since 2013, according to the annual reports of 83 exploration and production companies. Collectively, these companies added a net 8.2 billion barrels of oil equivalent (BOE) to their proved reserves during 2017, which totaled 277 billion BOE at the end of the year. Exploration and development (E&D) spending in 2017 increased 11% from 2016 levels but remained 47% lower than 2013 levels.

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