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Page added on March 8, 2004
Ex-Shell Head Warned on Reserves
It turns out that Sir Philip Watts was honest after all. The Wall Street Journal, citing undocumented sources, said that executives warned in 2002 that the company’s accounting of oil and natural gas reserves was inconsistent with U.S. Securities and Exchange Commission reports. But warning in a memo isn’t the same thing as warning in a press release?
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