Analysts and investors have been eagerly awaiting news on how Shell has progressed in booking its reserves, after it emerged in 2004 that the oil-giant had overstated reserves by 20%.
Expectations that fourth-quarter income will be between $4bn and $5.5bn have gone almost unnoticed, as market watchers focus all their attention on how many more barrels will have to be cut from reserves, and how Brinded plans to get reserves back up to par.
Analysts have been quoted as saying that Shell may have only replaced oil sourced in 2004 by between 40 per cent and 60 per cent. Oil companies need to achieve a 100% replacement rate to maintain their main asset bases.
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