FSA fines Shell for reserves misstatement
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The Financial Services Authority has hit oil giant Royal Dutch/Shell Group with a 17 million pound fine over its misstatement of its proven reserves.
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Anglo-Dutch energy giant Shell has allegedly accused the Russian government of concocting an environmental issue concern as an excuse to capture control of its multi-billion dollar Sakhalin gas project.
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Royal Dutch/Shell Group agreed on Tuesday to finalized settlements with U.S. and UK regulators which will cost the oil giant &#36;150.7 million over its mis-statement of proven oil reserves.
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LONDON, August 26 (New Ratings) - The beleaguered global oil giant, Shell (SHE1.ETR), has been reportedly asked by the Nigerian government to pay $1.
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Shell, the beleaguered oil giant, has been asked by Nigeria&#39;s Senate to pay $1.5bn (Â£830m) compensation to communities affected by oil pollution in the country.
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WASHINGTON -- A $120 million fine levied on Royal Dutch/Shell Group by the Securities and Exchange Commission resolves the company's part in the SEC inquiry into the overstatement of oil and gas reserves, but the role of individuals is still under investigation, regulators said yesterday..
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Royal Dutch/Shell, the energy group, ignored internal warnings for several years that it was overstating reserves because it was determined to show investors it could find enough oil and gas to keep it at the forefront of the industry.
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Grumbles over reduced pay-off deal for IT workers Royal Dutch Shell faces legal action from trade union Unite over the terms of its redundancy package, a week after telling staff that more than 3,000 IT jobs were to be outsourced at the firm.â¦
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Shell and other oil companies sought loans from the US reserve after Hurricane Ivan disrupted oil imports and production. While the added supply from the Strategic Petroleum Reserve
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LONDON : Royal Dutch/Shell announced plans to boost investment in exploration and production, making the replacement of its reserves a top priority as it seeks to restore battered investor confidence.
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The British oil exploration firm Cairn Energy may owe the Indian government more than $6.9m (Â£3.8m) in a dispute over an Indian oilfield, the company said yesterday.
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South KoreaÂs central bank ordered lenders to raise reserves held against foreign currency deposits, the second time in two weeks it has tried to curb borrowing. The reserve requirement ratio on short-term foreign currency deposits rose to 7 percent from 5 percent, the Bank of Korea said. The move brings the ratio into line with that for local currency demand deposits and reduces the incentive for banks to lend foreign currencies to home buyers. ÂThis is targeted at the property market,Â said Go You-sun, an economist at Daewoo Securities in Seoul. ÂItÂs a supplementary measure to the reserve requirement ratio increase they announced earlier. The results will take time to show, but this effectively reduces the amount of loans a bank can give.Â.
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New York (Nov. 5, 2004) - Media and entertainment giant Time Warner Inc. said that it had established $500 million in legal reserves related to pending government investigations, and that it intends to restate
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Business & money: Â· Miners also accused of exaggerating reserves   Â· Fears of renewed Kremlin attack on resources sector
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HOUSTON -- The Securities and Exchange Commission has decided to take no action against the former Royal Dutch Shell PLC chief executive over the 2004 oil reserves overbooking scandal, his lawyer said yesterday.
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Scandal-hit oil giant Royal Dutch/Shell will invest $45 billion (25 billion pounds) over three years to boost reserves and production but its shares have fallen on disappointment
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Royal Dutch/Shell will invest $15 billion (8 billion pounds) a year in 2004/06 to boost reserves and production, as it tries to draw a line under a reserves scandal that rocked the group.