CANADIAN OIL AND GAS RESERVES CONTINUE TO SLIP
Canadian oil and gas reserves continued to slide in 1991. The Canadian Petroleum Association said oil reserves declined 2.9% last year and natural gas reserves fell 0.7%. Conventional crude reserves declined 6.7% to 4.1 billion bbl. Gas reserves in producing regions dropped slightly to 71.2 tcf. The industry replaced only 32.4% of conventional oil production and 86.9% of gas production in 1991.