The Guardian: Energy: Shell hires 1,000 more engineers: “Auditors have questioned the status of 900m barrels of oil and gas stocks and Shell is expected to provide an update alongside its annual results on February 3.” (ShellNews.net) 19 Jan 05

Jan 19, 2005

Shell said yesterday that it planned to hire more than 1,000 engineers to beef up the unit at the centre of its reserves crisis last year.

The recruitment drive for its exploration and production arm is aimed at regaining ground lost to rivals after Shell cut its oil reserves by nearly a quarter last year.

The move was disclosed in an internal newsletter and comes as investors wait to discover whether Shell will reclassify its reserves for the fifth time since last January.

Auditors have questioned the status of 900m barrels of oil and gas stocks and Shell is expected to provide an update alongside its annual results on February 3.

Shell, by expanding its exploration and production arm, is striving to close the gap on rivals such as BP by finding new reserves to replace fully the oil and gas it takes from the ground over the next four years.

In October, Shell announced plans to merge its UK and Dutch parent companies. - PA