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In the oil and gas industries; refining and distribution as opposed to upstream exploration and production.

Oil reserves are those that are known to exist and be exploitable to a high degree of certainty.

Unproven oil reserves which have a better than 50% chance of being technically and commercially producible.

Oil reserves that have a significant probability of being commercially exploitable, but which can not be said to be probable.

A single number combining the volumes of oil and gas production.