Company News: Shell to end dual ownership; still evaluating reserves

The boards of Royal Dutch/Shell Group and Shell Transport & Trading Co. (ST&T) have proposed to shareholders that the companies be merged under a single parent company, Royal Dutch Shell PLC.The move to formally combine the group's British and Dutch parent companies under a single board and a single executive was prompted by criticism from investors who said that the old structure hindered transparency and financial accountability.That criticism escalated this year after Shell announced in January its first in a series of four adjustments that ultimately lowered proved reserves by 24%, mainly through reclassification. Shell has said a fifth reserves adjustment might be coming.In recen...

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