Royal Dutch Shell News Friday, 1 April 2005
THE WALL STREET JOURNAL: Shell Is in Settlement Talks Over Oil Reserves Scandal: “Royal Dutch/Shell Group said it is in settlement talks on some of the class-action litigation unleashed after it was forced to reclassify its oil reserves.” (ShellNews.net) 1 April 05
The Guardian (UK): Shell boss gets £1m bonus despite crisis over reserves: “Jeroen van der Veer, the chief executive of Shell, took home a bonus of nearly £1m last year despite the reserves fiasco that made it the worst year ever for the company’s reputation.”: “The SEC filing reveals that the Anglo-Dutch group’s oil reserve replacement ratio was a dismal 19% last year…” (ShellNews.net) 1 April 05
THE LONDON TIMES: Directors strike it rich after Shell’s investors lament their lost billions: “SHELL lost billions of barrels of oil, investors lost billions of pounds in value and the famous brand lost a century of hard-earned credibility but the directors profited handsomely in 2004, notwithstanding.” (ShellNews.net) 1 April 05
THE LONDON TIMES: Worrying amount of room at the top: “One can understand a certain wariness about taking on the task, given the revelations that have emerged about the culture that allowed Shell to so badly mislead investors” (ShellNews.net) 1 April 05
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