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HOUSTON — Exxon Mobil is finding far less oil than natural gas — a sign that it could be heading toward a less profitable business model.
Exxon said Tuesday it added 3.5 billion barrels of oil equivalent in 2010, twice the amount of oil and gas it produced. Three-quarters of the reserves replacement was natural gas — a figure underscoring the growing role played by natural gas in the portfolio of international energy companies.
Dow Jones Newswires
