The possibility to deceive investors is diminished because proven reserves are a conservative estimate of what is accessible given the state of technology and the situation of the economy.
A company's reasonable expectation of the amount of natural resources it can reasonably expect to obtain from a particular formation is referred to as proven reserves (also known as "proved reserves"). Geological and engineering information obtained from seismic testing and exploratory drilling is used to determine proven reserves.
From 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023, global growth is anticipated to decline. Except for the global financial crisis and the severe phase of the COVID-19 epidemic, this is the worst growth profile since 2001.
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