Royal Dutch/Shell to Hire 1,000 Engineers

The Royal Dutch/Shell Group of Cos. said Tuesday that it plans to hire more than 1,000 engineers to strengthen the unit at the center of last year’s reserves crisis.

The Dutch-Anglo oil giant was forced to cut its proven oil reserves, its most precious asset, by nearly a quarter last year after vastly overestimating how many reserves it held.

The scandal cost the company almost US$150 million in fines imposed by U.S. and British regulators and led to the sacking of three senior executives.

Forbes.com