Shell’s reputation was destroyed in 2004 after FIVE consecutive cuts to its hydrocarbon reserves covering 55% of its total reserves.
US and UK financial regulators imposed $150 million in fines on Shell for securities fraud. Shell was also rocked by class action lawsuits.
Sir Philip Watts and Walter van de Vijver (whose headcut images appear courtesy of The Wall Street Journal), were among the Shell executives forced to resign.
MONTAGE OF MEDIA COVERAGE (CLICK LINK TO VIEW LARGE IMAGES OF NEWSPAPER ARTICLES)
SHELL RESERVES SECURITIES FRAUD UNFOLDS IN SIZZLING NEWS HEADLINES
Daily Telegraph: Shell drops ‘bombshell’ on reserves: 9 January 2004
The Times: How Shell blew a hole in a 100-year reputation: 10 January 2004
The West Australian: Investors howl for Shell’s blood: 12 January 2004
London Evening Standard: Shell bosses lied to the City: 19 April 2004
Houston Chronicle:‘Sick and tired about lying’ at Shell: 19 April 2004
Bloomberg: Shell Loses AAA Credit Rating: 19 April 2004
BBC News: Shell bosses ‘fooled the market’: 19 April 2004
The Guardian: Trail of emails reveals depths of deceit at the heart of Shell: 20 April 2004
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
