Royal Dutch Shell Group .com

THE NEW YORK TIMES: Shell Inflated Reserves by 41%: “Royal Dutch/Shell Group reports its oil and gas reserves as of 2002 was overstated by 41 percent; Shell has made five cuts in reserve number, leading to investor lawsuits, replacement of three senior executives and more than $150 million in fines; US Justice Department is conducting criminal investigation into Shell's statements of its oil and gas reserves” (ShellNews.net) Posted 4 April 05

 

(Bloomberg News) 334 words

 

ABSTRACT - Royal Dutch/Shell Group reports its oil and gas reserves as of 2002 was overstated by 41 percent; Shell has made five cuts in reserve number, leading to investor lawsuits, replacement of three senior executives and more than $150 million in fines; US Justice Department is conducting criminal investigation into Shell's statements of its oil and gas reserves; company amends annual reports, lowering net income for 1999 through 2003 in connection with previously announced cuts; lowers net income for 2003 by $183 million, to $12.31 billion, and for 2002 by $66 million, to $9.66 billion (M)

 

http://query.nytimes.com/gst/abstract.html?res=FB071EFF34590C7B8CDDAA0894DD404482&incamp=archive:search

 

 

 

Click here for ShellNews.net HOME PAGE


Click here to return to Royal Dutch Shell Group .com