(Bloomberg) -- OPEC's proven crude oil reserves
rose 1 percent last year, led by increases in Venezuela and
Iran, at a time when European and U.S. oil companies such as BP
Plc and Repsol YPF SA struggled to find new deposits.
The tally for the 12-nation producer group rose by 9.2
billion barrels to 922.48 billion barrels at the end of 2006,
OPEC said today in its Annual Statistical Bulletin. The increase
was the biggest in four years and equivalent to all of the
proven reserves of Norway, Europe's biggest oil supplier.
Read more at Bloomberg Energy News
rose 1 percent last year, led by increases in Venezuela and
Iran, at a time when European and U.S. oil companies such as BP
Plc and Repsol YPF SA struggled to find new deposits.
The tally for the 12-nation producer group rose by 9.2
billion barrels to 922.48 billion barrels at the end of 2006,
OPEC said today in its Annual Statistical Bulletin. The increase
was the biggest in four years and equivalent to all of the
proven reserves of Norway, Europe's biggest oil supplier.
Read more at Bloomberg Energy News
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