Saturday, December 10, 2005

Shell Lacks Oil Sources

Dec. 10 (Bloomberg)

Royal Dutch Shell Plc isn't succeeding in finding enough new sources of oil, according to Robin Batchelor, a fund manager at Merrill Lynch & Co., De Telegraaf newspaper reported.

Batchelor, who heads the $3.7 billion World Energy Fund, sold all of his shares in Shell last year after the company overstated its oil reserves, the newspaper said.

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