Shell is very different from Enron. We were criticized for that some time ago and Im glad we have a absolutely rock-solid way we do business. And, if you read our annual report, you read our footnotes and all the details, everything is in there. Its all completely transparent, as far as Shell is concerned.
Sir Philip Watts, Group Chairman, Royal Dutch Shell Group
By John Donovan
During a Bloomberg interview in 2002, with the then Group Chairman of Royal Dutch Shell, Sir Philip Watts, reference was made to the core Royal Dutch Shell business principle of complete transparency.
The following is an extract from his exchange with Guy Collins of Bloomberg on 8 February 2002: –
COLLINS: I want to ask you about Enron and any parallels there. Do you have any off balance sheet liabilities? Do you have trigger mechanisms in place that make you vulnerable to changes in the share price or credit ratings?