Reclassify

Shell’s Reclassification Not Expected by Peers; Watts’ Future Questioned

Royal Dutch/Shell Group’s decision to reclassify its proven reserves by 20% continued to rattle energy investors and analysts on Monday, with many wondering whether other producers also will restate their reserves numbers in the near future. And in London, insiders say it’s only a question of weeks before Group Chairman Phil Watts is looking for another job.

January 13, 2004