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Shell Warning Represents Rare Reputational Blow

Screen Shot 2013-06-25 at 08.12.06

Screen Shot 2013-10-01 at 07.56.54It’s been 10 years since Royal Dutch Shell PLC issued a profits warning. Back then, it disclosed massive accounting discrepancies in its reserves. Today’s fourth quarter profit warning doesn’t carry any whiff of scandal, but represents a big and rare reputational blow to one of Europe’s most dependably-performing companies.

Still, the damage isn’t as bad as the last time the company issued a profit warning on Jan 9, 2004. On that day the company’s share price fell 7.4% following the disclosure of discrepancies in its oil reserves calculation that would lead to a major management and company restructuring and unfold into one of its biggest crisis in its century-plus of pumping oil.

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(Seems that the WSJ may have visited our website earlier today)

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