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Shell sees 2024 oil and gas reserve replacement ratio at 85%

Published by Global Banking & Finance Review

Posted on January 30, 2025

1 min read

· Last updated: January 26, 2026

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Shell oil and gas reserves infographic illustrating 2024 RRR of 85% - Global Banking & Finance Review
An infographic showing Shell's projected 2024 oil and gas reserve replacement ratio of 85%, highlighting the company's reserves and production metrics in the finance sector.
oil and gas investment
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(Reuters) - Shell said on Thursday it expects its proved oil and gas reserve replacement ratio for last year to be 85%. The reserve replacement ratio (RRR) measures how much oil and gas a company adds

Shell sees 2024 oil and gas reserve replacement ratio at 85%

(Reuters) - Shell said on Thursday it expects its proved oil and gas reserve replacement ratio for last year to be 85%.

The reserve replacement ratio (RRR) measures how much oil and gas a company adds to its reserves compared with what it produces.

A ratio of 100% or more means the company is replacing its reserves at the same rate or faster than it depletes them.

On a three-year basis, Shell said its RRR was expected to be 108%.

The oil major also added that its 2024 reserves are expected to be about 9.6 billion barrels of oil equivalent.

(Reporting by Arunima Kumar in Bengaluru; editing by Jason Neely)

Key Takeaways

  • Shell expects an 85% reserve replacement ratio for 2024.
  • The three-year reserve replacement ratio is projected at 108%.
  • Shell's 2024 reserves are estimated at 9.6 billion barrels.
  • A reserve replacement ratio of 100% or more is ideal.
  • The report was edited by Jason Neely.

Frequently Asked Questions

What is Shell's expected reserve replacement ratio for 2024?
Shell expects its proved oil and gas reserve replacement ratio for 2024 to be 85%.
What does the reserve replacement ratio measure?
The reserve replacement ratio (RRR) measures how much oil and gas a company adds to its reserves compared to what it produces.
What does a reserve replacement ratio of 100% indicate?
A ratio of 100% or more means the company is replacing its reserves at the same rate or faster than it depletes them.
What is Shell's expected reserves for 2024?
Shell's 2024 reserves are expected to be about 9.6 billion barrels of oil equivalent.
What was Shell's RRR over the past three years?
On a three-year basis, Shell said its reserve replacement ratio was expected to be 108%.

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