THE FINANCIAL TIMES: Shell could restore share buy-backs: “The company only returned $1.7bn (£900m) to shareholders last year, while rival BP took advantage of record oil prices to return $7.5bn. Shell will find it difficult to compete with BP as it tries to spend its way out of its reserves crisis.“ (ShellNews.net) 14 Jan 05

By James Boxell

Published: January 14 2005

Royal Dutch/Shell is considering whether to reinstate share buy-backs after it was given clearance by the US Securities and Exchange Commission. The Anglo-Dutch oil group was blocked from buying back shares after it announced the merger of its Dutch and British holding companies in October.

The company only returned $1.7bn (£900m) to shareholders last year, while rival BP took advantage of record oil prices to return $7.5bn.

Shell will find it difficult to compete with BP as it tries to spend its way out of its reserves crisis. It was forced to cut proved reserves by almost a quarter last year.

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