Shell's £82.7m fines over reserves crisis confirmed

Shell was today rapped by financial watchdogs for a catalogue of failings that led to it inflating its oil and gas reserves.

Tue, 24 Aug, 2004 - 17:57

Shell was today rapped by financial watchdogs for a catalogue of failings that led to it inflating its oil and gas reserves.

Fines totalling £82.7m (€122.6m) were confirmed against the group after investigations by the Financial Services Authority (FSA) and Securities and Exchange Commission (SEC) in the US found it committed market abuse.

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