Shell bosses were warned about reserves 4 years ago; potential overbooking was outlined to executives as early as June 2000
Article Abstract:
US regulators have obtained internal documents showing that Royal Dutch-Shell Group was warned in early June 2000 that the company risked disappointing financial markets by presenting overly optimistic assumptions about oil reserves and production capacity. At the time, Shell executives were publicly portraying a positive picture of the company's performance and future potential. It was not until Sept 2001 that the company told analysts and investors it was reducing targets for oil and gas production.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
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How Shell's move to revamp culture ended in scandal
Article Abstract:
Royal Dutch-Shell Group of Cos. developed a new age management style in 2000 and accounting maneuvers hid failures at finding oil reserves.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
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