The measurement of hydrocarbons is both a subjective and a scientific exercise, as this week's events in the North Sea have just shown. On Tuesday, Cairn Energy (CNE) used its full-year numbers to impair its 29.5 per cent stake in the under-performing Kraken field by $166m (£126m), writing off 6.8 million barrels of proven and probable oil reserves in the process.
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