Shell Publishes First Ever Oil Reserves Report

The Royal Dutch/Shell Group has published its first ever oil and gas reserves report in an attempt to reassure investors that the accounting of its resources fully complied with US regulations.

Shell explained in detail how it counted reserves, and considered them proved, in a a 42-page report, borne out of the reserves scandal that shook the world’s third largest oil company last year.

It released the report after reviewing over 1,500 fields and 12,000 wells worldwide.

“This report details the mandatory requirements for ‘proved reserves’ reporting within Shell and is intended to assure compliance with rules set by the US Securities and Exchange Commission in relation to ‘proved reserves’,” said Shell in its opening statement.
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