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Royal Dutch Shell(RDS.A Quote) announced Tuesday in its annual performance review that its total reserves at the end of 2008 were 11.9 billion barrels of oil equivalent, unchanged from the same period last year.
The European integrated energy producer said that it added 1.2 billion barrels of oil equivalent from exploration and production activities last year. Another billion barrels of oil equivalent were added via business development activities such as joint ventures and acquisitions.
Regardless of these reserve additions, Shell's net hydrocarbon sales offset the firm's organic reserve additions, leaving its total net reserves unchanged for the year. ...
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