Investors Shell-Shocked at Lack of Internal Controls at Oil Giant
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Summary
INVESTORS expressed total astonishment yesterday at the lack of internal controls at Shell that led to only one former employee, who worked part-time, checking the group's own claims about its oil reserves.
Lord Oxburgh, non-executive chairman of Shell, yesterday expressed "profound regrets and apologies" for what he said was a "major embarrassment for Shell".See the full content of this document
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Investors Shell-Shocked at Lack of Internal Controls at Oil Giant
However, he said the debacle surrounding the group overstating billions of barrels of oil reserves was "attributable to human failings", rather than any structural breakdown.
In a statement, the unnamed, part-time employee said: "With hindsight I shou...See the full content of this document
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