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May 31st, 2004:

Mail on Sunday: £150m bonanza for Shell auditors

Mail on Sunday: £150m bonanza for Shell auditors

 

Patrick Tooher,

30 May 2004

Posted 31 May 04

 

ACCOUNTANTS who failed to spot Shell’s massive overbooking of reserves were paid more than £150m in the past five years by the embattled oil giant.

 

Most of the fees paid to KPMG and PwC were for lucrative consultancy work rather than the basic audit, which spectacularly missed major shortcomings in Shell’s own internal financial controls.

 

However, Shell says it has no plans to change its auditors, who will stand for re-election at next month’s annual meeting. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

BARRON’SOnline.com: Winds of Fortune

BARRON’SOnline.com: Winds of Fortune

MONDAY, MAY 31, 2004
By JACQUELINE DOHERTY

With oil at $40 a barrel, windmills and solar panels are getting a second look

IT USED TO BE A QUAINT DREAM of the granola and Birkenstock crowd: widespread use of windmills and solar panels to generate electricity. But now, lured by the potential profits, some big corporations are starting to plow billions into the field. Giants such as General Electric and Royal Dutch/Shell Group have jumped into the manufacturing end of the business, while wind farms are finding equity financing from the likes of FPL Energy, a unit of Florida’s FPL Group; PPM Energy, a unit of Scottish Power; and the Zilkha family of Texas, which made a fortune in natural gas in the 1990s. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

News.com.au: Shell cuts earnings $285m

News.com.au: Shell cuts earnings $285m

By Bruce Stanley in London
May 31, 2004

ROYAL Dutch/Shell Group has reduced its annual earnings by $US203 million ($285 million).

This was revealed in an annual report delayed by two months due to the scandal arising from the company’s downgrading of its oil and gas reserves. Yet even as it sought to restore its battered reputation, Shell suffered another blow when a US refinery said it had supplied Shell stations in the US state of Florida with petrol that contained potentially damaging amounts of sulphur. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.