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Shell investors call for clarity

Financial Times

By Charlie Kirby

Published: January 17 2010 08:30

A UK coalition of institutional and private shareholders is calling on Royal Dutch Shell to provide transparency on risks associated with Canadian oil sands projects.

Over 140 fund managers, mutual funds, pension funds and individual investors co-filed a resolution, co-ordinated by social responsible investment campaign group FairPensions, in December 2009. Shell has since confirmed that the resolution is valid, and will be addressed in its annual general meeting on May 18.

Nearly one third (30 per cent) of Shell’s total reserves are in oil sands, which have particularly high operating costs. Oil analysts have questioned whether sands extraction is still economically worthwhile…

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