Shell to Reflect Recent Organisation Change in Future Accounting Disclosure
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Thursday, 01 October 2009 |
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Shell has recently implemented (1 July, 2009) a series of changes to
senior management roles and responsibilities. These changes will be
reflected in the future accounting disclosure segmentation.
These changes will reduce Shell's administrative costs, simplify the
presentation of Shell's financial results, and at the same time provide
additional information for investors. Financial results will be
presented in three segments: Upstream, Downstream and Corporate &
Minority Interest. This will simplify the accounts presentation, which
up to the second quarter 2009 was comprised of six business segments.
Downstream will include earnings from the previous Oil Products and
Chemicals segments, and Alternative Energy, with the exception of Wind,
which will be consolidated into Upstream. Upstream will include
earnings from the previous Exploration Production, Gas & Power and
Oil Sands segments.
Shell will provide a financial supplement disclosure, on a quarterly
basis, which will include expanded geographical disclosures for
Upstream, financial information on Integrated Gas, which includes the
LNG business, and an Oil Products and Chemicals split for Downstream.
PetrolWorld 280909
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