Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Chevron, BP will have to cut reserves:
(Surprise ! Exxon record profits, production falls...HMMMNNNN!)
http://www.financialsense.com/Experts/2006/Blake.html

Venezuela minister (CVX, BP, TOT, UK:BP, FR:012027, REP, BRG, UK:BG) By Steve Goldstein
LONDON (MarketWatch) -- Venezuela's oil minister, Rafael Ramirez, said in an interview that Chevron Corp. (CVX) , BP Plc (BP) , Total (TOT) and other oil companies will have to cut the oil reserves they've booked in Venezuela. "The Repsol YPF situation [reserves cut] is not an individual one, but affects all the companies that work in Venezuela," Ramirez told the Financial Times. The report said analysts believe the impact will be larger in Bolivia, which was reponsible for half of the proven reserves downgrade of Repsol.