Stay Connected

Shell to pay $353 million in reserves settlement

04/16/2007
Royal Dutch Shell PLC agreed to pay $352.6 million, plus administrative costs, to investors outside the US in a settlement related to a series of reserves writedowns. Shell admitted no wrongdoing in the settlement. Investors had said the oil and gas major was involved in improper accounting for oil and gas reserves during 1997-2003.The company reclassified reserves five times in a little over a year (OGJ Online, Feb. 4, 2005).In an Apr. 11 news release, Shell said it agreed to settle with a group of European and other investors outside the US. Parties to the settlement involve institutional investors including Dutch pension funds led by Stichting Pensioenfonds ABP. Others are organization...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.