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Royal Dutch Shell News Wednesday, 27 April 2005

Royal Dutch Shell News Wednesday, 27 April 2005

FINANCIAL TIMES: Shell and Oman fall out on oilfield deal: “News of the disagreement between the Omanis and Shell over the best way to extract more from the field will be a blow to the group’s prestige in a key country. Shell is recovering from last year’s overbooking scandal.” (ShellNews.net) 27 April 05

London Evening Standard: Shell to weather the storm: “Shell’s underlying health is under question however.”: “…it was forced to slash its estimate of proven reserves by six billion barrels, almost 30%. The changes came as it admitted having misled investors for years. The scandal shattered Shell’s reputation”: “Moreover, Shell revealed recently that its ratio of reserve replacement had collapsed to a paltry 19% – the lowest of any oil major.” (ShellNews.net) Posted 27 April 05

Daily Mail (UK): Fat cats in doghouse over ‘cash for failure’: “Companies in the investor’s sights include Shell, which paid multimillion pound bonuses to directors despite admissions it had overstated its reserves by 23%.”: “Former chairman Sir Philip Watts and exploration and production director Walter van der Vijver pocketed £3.5m between them despite being censured by an independent review.” (ShellNews.net) Posted 27 April 05

allAfrica.com: Shell ‘World’s Most Ethical Oil Firm’: “Despite the controversy over the misstatement of oil reserves and the reshuffle of executives at Shell, the company excelled in many of the 120 points examined in the M&E study.” (ShellNews.net) Posted 27 April 05

THE WALL STREET JOURNAL: Shell Canada 1Q EPS C$1.52: “Shell Canada said revenue rose to C$3.01 billion from C$2.51 billion.” (ShellNews.net) Posted 27 April 05

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