Shell ex-official defends his role in reserves flap

Article Abstract:

Ousted from Royal Dutch-Shell Group of Cos. following an accounting scandal, the company's former executive Sir Philip Watts has since been implicated by investigators as largely responsible for Royal Dutch-Shell's overstating of its oil and natural gas reserves. Breaking several months of silence on the matter, he has now filed a request for a hearing before the Financial Services and Markets Tribunal to challenge the findings against him.

Executive changes & profiles, Capacity, Officials and employees, Appointments, resignations and dismissals, United Kingdom. Financial Services Authority, Financial misrepresentations, Financial misrepresentation, Watts, Philip

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BP to pay $2.5 million to settle improper trading allegations

Article Abstract:

BP PLC will pay $2.5 million (2.2 million euros) in a record fine to settle improper trading charges with the New York Mercantile Exchange. The company was accused of improper oil trading.

British Petroleum Company PLC, New York Mercantile Exchange Inc.

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Shell's auditor had outside support

Article Abstract:

Royal Dutch-Shell Group of Cos. was assured by an outside auditor that reserves auditor Anton Barendregt was competent and independent. British and United States regulatory investigations.

Capital funds & cash flow, Accounting and auditing, United States. Securities and Exchange Commission

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