Reuters: S&P may cut ratings on Royal Dutch/Shell: “S&P said it may also cut its ratings on Shell units Shell Oil Co., Shell Petroleum NV and Shell Petroleum Co. Ltd.”: “New downward revisions in reserves represent the fifth such adjustment this year, S&P said in a statement. The latest revision could reduce Shell's proven reserves life to less than 10 years, it said.” (ShellNews.net)

Posted 30 Oct 04

NEW YORK, (Reuters) - Standard & Poor's on Friday said it may cut its long-term ratings on Royal Dutch/Shell Group citing new downward revisions to the group's proven oil reserves.

S&P said it may also cut its ratings on Shell units Shell Oil Co., Shell Petroleum NV and Shell Petroleum Co. Ltd. Royal Dutch/Shell and those units are rated "AA-plus," the second-highest rating.

New downward revisions in reserves represent the fifth such adjustment this year, S&P said in a statement. The latest revision could reduce Shell's proven reserves life to less than 10 years, it said.

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