From our October 2004 Shell News Archive
London Evening Standard: Shell stuns City with revamp
“The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.”: “Buried deep in the results statement, Shell said it was considering yet another downgrade after a review of 8bn barrels of reserves for the year to December.”
Steve Hawkes,
28 October 2004
ANGLO-DUTCH giant Shell stunned the City today by unveiling plans to scrap its century old corporate structure and create ‘one company, one board and one chief executive.
The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.
It will effectively take over the British and Dutch arms, which came together in a joint venture in 1907 with Royal Dutch owning 60%. The new group will be based in the Netherlands but listed in London.