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Business & Economics

Chevron struggles to replace oil, gas reserves amid Hess deal limbo

Reuters
Summary
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Chevron 's reserve replacement ratio is one of the key metrics for investors in energy companies.

If Chevron closes the Hess acquisition, it would gain a stake in the lucrative Guyana oilfields operated by Chevron 's rival, Exxon Mobil .

The low rate of reserve replacement raises "red flags," an analyst with Scotiabank said.

Chevron declined to comment.