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Last Updated: Tuesday, 29 June, 2004, 07:06 GMT 08:06 UK
BP raises oil reserves estimate
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Oil giant BP has raised its estimate of its oil reserves, in sharp contrast to troubled rival Shell.

BP said under US accounting rules its proved oil reserves are 23 million barrels higher than the estimate given in its annual report in March this year.

The increase amounted to 0.1% of its total proved reserve base and BP considered the difference "immaterial".

Shell had to cut its reserves estimates in January, a move which led to the departure of three top executives.

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