The Times: Revival in the pipeline?
April 29, 2004
By Richard Irving, Business News Editor
Shell has shocked investors again, this time by revealing profits far better than they had hoped for.
For most of 2004, Shell has found buyers for its shares as elusive as its “proven” oil reserves.
It was not so long ago, in June last year, that the stock was trading near parity with BP shares at a little over 400p.
Yesterday Shell shares closed at 386.75p, more than 20 per cent below the price of BP stock.