Dublin oil firm sees reserves rise

PETRONEFT, the Dublin-headquartered oil and gas exploration company with a focus in Russia, has seen its reserves at its two Tomsk-based licences increase by a little less than 37% to 96.9 million barrels.

The upgrade — from 70m barrels — was made after an independent assessment carried out by reserve auditors Ryder Scott.

Petroneft chief executive Dennis Francis said that