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Equity Market News 06th February 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

18/01/05

Permalink 04:53:13 pm, Categories: Europe Eurofirst, 134 words  

Shell to recruit engineers, to rebuild reputation

Royal Dutch/Shell has detailed plans this year that seek to restore investor confidence, improve company accountability, and rebuild its overall reputation, in the wake of last year's scandal over over-estimation of its oil and gas reserves.

In restructuring, that has already seen the deconstruction of a centuries' old dual-board, chief executive Jeroen van der Veer is keen to see full accountability applied throughout the company.

He has also warned that estimates of existing reserves will also be likely to fall, but that plans are already being detailed to narrow down a project list of exploration projects most likely to see reserve estimates increased.

Shell is under pressure to match rivals ExxonMobil and BP, by finding new reserves equal to 100 per cent of the oil and gas it extracts for the next four years.

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