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Oil firms queried on reserves

from The Wall Street Journal

The Securities and Exchange Commission is pressing energy companies in the U.S. to disclose how much of their reserves — a key gauge of future profit — consists of oil rather than less valuable liquids like propane. After prodding from regulators, companies including BHP Billiton Ltd. and ConocoPhillips have recently joined Exxon Mobil Corp. and Anadarko Petroleum Corp. in agreeing to break out how much of the fuel they can pump at a profit is crude rather than liquids derived from natural gas. more

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