The Guardian: Shell 'needs Wall St help'
Monday April 26, 2004
Non-executive directors at Shell are understood to be urging the company to take on a Wall Street bank to advise it on a corporate restructure. Although the oil group declined to comment, it has said it is reviewing its corporate governance and will present its findings to shareholders at its June 28 annual meeting.
BP will add to pressure on Shell this week when it is expected to say that its production will overtake Shell's this year .
The likelihood of Shell's facing a Department of Trade investigation receded yesterday. It is understood that there is no regulatory requirement for reserves to be stated so any investigation should be left to the Financial Services Authority.