Shell's top executives kept board in dark on reserves: directors only heard in December of woes arising in early 2002

Article Abstract:

Ongoing investigations into corporate reserve accounting practices reveal that Royal Dutch-Shell Group of Cos. executives knew about reserve overstatements but did not reveal the extent of the overstatements to board members until much later. Knowledge of overstatements surfaced as early as 2002; board members were informed at the end of 2003.

Capital funds & cash flow, Economic aspects, Accounting and auditing, Petroleum reserves

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SEC may probe Shell over reserves

Article Abstract:

The Securities and Exchange Commission plans to investigate Royal Dutch/Shell Group's overbooking of oil and gas reserves. Chairman Philip Watts is under added pressure after the company admits it overbooked reserves by 20%.

Petroleum and gas industry software, Watts, Philip

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Shell case spurs fast U.S. response

Article Abstract:

United States regulators move quickly to investigate allegations that Royal Dutch/Shell overbooked oil and natural gas reserves, while their European Union legal counterparts respond more slowly.

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