USA: New Rules on Oil Reserves Approved by SEC
|
|
|
|
Tuesday, 06 January 2009 |
|
The Securities and Exchange Commission approved updated rules for
energy companies that will require them to provide more detailed
information to investors when reporting oil and gas reserves.
Reserves are an oil companies most valuable asset and a critical
indicator of its long-term financial prospects. Any reduction in their
estimated size is a concern for investors. "These updates to the
SEC rules will help ensure more meaningful and comprehensive disclosure
of information that, even though it does not appear on a companies
balance sheet, is of significance to investors in making informed
investment decisions,"" SEC chairman Christopher Cox said in a
statement.
PetrolWorld 020109
|
