Los Angeles Times: Shell Increases 2004 Spending in Europe
“The alleged role of individuals in the scandal remains under investigation by the SEC, and Shell also faces a separate probe by the U.S. Justice Department.”
By Associated Press
25 August 04
LONDON — Royal Dutch/Shell Group on Wednesday announced a $150 million increase in the amount of money it will spend in 2004 on exploration and production in Europe, bringing the total to $1.8 billion.
In addition to Italy, Ireland, Germany and Austria, Shell’s European region includes the North Sea, which is made up of Britain, Denmark, Netherlands and Norway. Despite recent concerns in the oil industry of declining production in the North Sea, Shell said it remains a strategic heartland for the company.