Exxon Relents, Wipes Oil Sands Reserves From Its Books

InsideClimate News
By Nicholas KusnetzFeb 23, 2017, 3:00 am300 pts
Low prices force the oil giant to stop counting 3.5 billion barrels as an asset, a major turnaround in its accounting. By Nicholas Kusnetz ExxonMobil announced Wednesday that it had wiped off its books all 3.5 billion barrels of tar sands oil reserves at one of its projects in Canada. Because of recent low oil…

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