The oil giant revealed that it has had to restate 1.4bn barrels of oil equivalent (boe), and revise its reserves for 2003 down from 14.35 billion boe to 12.95 billion boe.
The company is now faced with the challenge of replacing the missing barrels. Shell disclosed that it had only replaced between 15% and 25% of its oil reserves – well short of its goal of 100% replacement, on average, over the next five years.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements