Royal Dutch Shell Group .com

Sky News: SHELL: slip, sliding away -SHELL EXEC FIGHTS BACK


A former top executive at oil group Shell has complained of being ousted from his job "without credible explanation".


Former exploration and production chief Walter van de Vijver says he is cooperating with investigations of Shell reserve accounts.


Mr Van de Vijver said he had "provided full cooperation and support to the (Securities and Exchange Commission) and internal investigations" of sharp reserve reductions at Shell.


Responding to what he called "misleading" portrayals of his role in the Shell reserves affair, he said he found problems in the classifying of reserves when he started the job.


He had told Shell's managing directors committee about his findings, he insisted, saying: "I introduced improved controls, guidelines, and technical rigor in the E&P unit.


"As the magnitude of the non-compliant reserves classifications became apparent in late 2003, I led the charge to communicate the issues fully within the company.


"I persisted in calling for full and prompt disclosure to the company's joint boards of directors and to the public."


The SEC in February launched a formal probe of the world's third-largest oil group, which slashed its proved reserves by 20% in January.


In March, it again cut its oil and gas reserve accounts - a key item for energy companies.


Anglo-Dutch Shell is under investigation by the SEC, the US Justice Department, the UK's Financial Services Authority and the Netherlands' markets regulator, AFM.


The company is listed on stock exchanges in all three countries.,,30400-13058046,00.html


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