The Independent (UK): Shell urged to back external audits: “The call from California Public Employees' Retirement System (Calpers) yesterday follows Shell's disclosure that it may have to downgrade another 900 million barrels of proved reserves.” (ShellNews.net) 10 Nov 04

Nov 10, 2004

CALPERS, ONE of the largest pension funds in the United States, has called on Shell to commit to annual external audits of its oil and gas reserves.

The call from California Public Employees' Retirement System (Calpers) yesterday follows Shell's disclosure that it may have to downgrade another 900 million barrels of proved reserves.

Shell declined to comment.