Shell Assures with $2bn Buy-Back; Oil Giant Aims to Restore Investor Confidence with Bold Move

The Herald (April 30, 2004)

Author: Ben Griffiths

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Summary

EMBATTLED oil giant Shell stunned the London market yesterday with news of a $2bn share buy-back for this year and stronger-than- expected first-quarter financial results.

The Anglo-Dutch company, which has been thrust into the spotlight following the dramatic downgrading of its oil and gas reserves, is taking steps to restore investor confidence following the ousting of three executives.

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Extract

Shell Assures with $2bn Buy-Back; Oil Giant Aims to Restore Investor Confidence with Bold Move

Shell said underlying profits for the first three months of the year rose 9%, ahead of City expectations, to $4.25bn ((pounds) 2.4bn) - despite a dec...

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