Justice Dept. Opens Inquiry Into Shell Oil

[Renew Deal]

By STEPHEN LABATON and JEFF GERTH

Published: March 17, 2004

WASHINGTON, March 16 - The Justice Department has opened an inquiry into whether executives at the Royal Dutch/Shell Group violated any laws by failing to disclose in a timely fashion a significant shortfall in proven reserves of oil and natural gas, a person involved in the inquiry said Tuesday.

The company and its executives are already the focus of investigations by European regulators and officials from the Securities and Exchange Commission. But the Justice Department, unlike the commission, has the authority to bring criminal charges as well as civil ones. British and Dutch regulators are also examining the company.

The Justice Department inquiry, which was opened in recent days, is being conducted by prosecutors in the United States attorney's office in Manhattan, which often handles securities law inquiries involving large publicly traded companies. Shell, the world's third-largest publicly traded oil company, is controlled by Dutch and British executives. It has publicly traded shares on major exchanges around the world, including the New York Stock Exchange.

A spokesman at the company, Matt Samuel, said it had not been contacted by Justice Department officials.

http://www.nytimes.com/2004/03/17/business/17oil.html?ei=5062&en=94bee42

[jmcgowanjm]

1. hello, Ormen Lange

http://www.planetforlife.com/OilSituation.htm
.
250million barrels. That would be the
amount that ShellRD just revised downward its
reserves, again on March 18 2004.

Now, the 250 million downgrade came from the Ormen Lange
field off Norway.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=a32..Tzvas14&refer=home

http://www.oilonline.com/news/features/oe/20031101.North_Se.12798.asp

In the above article you will find these hydrocarbon
corps:

ShellRD
ExxonMobil
NorskHydro
StatOil
ConocoPhillips
Marathon
and oil surveyors
the Pilot-KonKraft team (new for me),
Wood Mackenzie
and Britain’s Department of Trade & Industry.

So only Shell's P/R % of Ormon Lange was the only
downgrade? Everybody else has been right on the $.
Right.

http://www.elsi.org/endofoil.htm