Two top Shell executives began reserve feud in '02: Sir Philip resisted urgings of van de Vijver to begin housecleaning over data

Article Abstract:

Two Royal Dutch/Shell Group executives agreed not to disclose the booking of more natural gas and oil reserves than permitted under US regulatory guidelines, it has been revealed. Although Walter van de Vijver had urged reporting revisions, Sir Philip Watts resisted. Since van de Vijver's revelation, reserve statements to investors have now been reduced by 20%, negatively impacting company stocks.

Production management, Labor Distribution by Employer, Statistics, Watts, Philip, Vijver, Walter van de

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Shell's outside auditors got warning on reserves in 2002

Article Abstract:

Royal Dutch-Shell Group of Cos. admits to having massively overstated its energy reserves in 2002. Company records show that an internal auditor at the time alerted external auditors KPMG International and PricewaterhouseCoopers International Ltd. to the discrepancy, but it is unclear how significant the warnings were.

United States, Legal issues & crime, Contracts & orders received, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Legal/Government Regulation, Petroleum refining, Contracts & orders let, Company legal issue, Cases, Contracts, Accounting firms, Accounting services, Contract agreement, Internal auditing, KPMG International, Financial misrepresentations, Financial misrepresentation, Barendregt, Anton, PricewaterhouseCoopers International Ltd.

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Shell restatement has roots in 1990s: move to relax guidelines for accounting of reserves predates arrival of Watts

Article Abstract:

The relaxing of guidelines for reporting natural gas reserves occurred back in the mid-1990s, according to investigations into Royal Dutch-Shell Group of Cos. business practices. These would predate the 1997 arrival of Shell exploration and production unit leader Philip Watts.

Comparative analysis, Accounting procedures

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