Summary
ONE should not be too easily lulled into the view that after the release of an abbreviated report into the reserve accounting scandal at Shell, all the troubles at Britain's second-most important oil company are over.
London-based brokers, including Deutsche Bank and Cazenove, have been quick to upgrade the company's shares following chairman Lord Oxburgh's display of openness. But there are reasons for caution. Walter van de Vijver, the ousted exploration chief, is disputing Shell's version of events, claiming he warned early and often on the reserves issue.See the full content of this document
Extract
Shell Must Be Fully Opened
Credit rating agency Standard Poor's thought the disclosures sufficiently worrying that it stripped the blue-chip firm of its top ranking AAA rating.
It may yet downgrade again once it has seen ...See the full content of this document
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