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Shell proved reserves climb on SEC rule change

By Steve Goldstein

LONDON (MarketWatch) — Royal Dutch Shell in its annual report, said proved oil and gas reserves rose to 14.13 billion barrels of oil equivalent from 10.9 billion in 2008. Shell said the 2009 volumes were established under new SEC rules on oil and gas reporting. The report said 4.42 billion barrels were added before accounting for production. As for compensation, the report showed Linda Cook received a $7.6 million severance and a performance bonus of $1.54 million after leaving as head of the gas and power business. Peter Voser’s total compensation was $4.39 million, Malcolm Brinded earned $3.69 million and Simon Henry earned $1.49 million in 2009.

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