BP has dropped its oil and natural gas reserves replacement ratio as one of the company’s key performance metrics, it said March 22, underscoring the company’s ambitious plans to become an integrated energy player by targeting renewable and low-carbon energy investments. Receive daily email alerts, subscriber notes & personalize your experience. Register Now A measure of whether a producer has been able to replace its production with new, proved reserves during any one year, reserves replacement ratios and related “reserves life” have been a touchstone of operating performance measures for oil majors since the birth of the global oil industry. “We have removed proved reserves replacement ratio from our [key performance indicators], as it no longer serves as a useful […]