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Boeing delivers C-17 to RAF
NEW YORK, March 4 (UPI) -- Shell has ousted its embattled chairman as the U.S. Securities and Exchange Commission began looking into the oil company's activities.
The probe by the SEC and internal investigators were focusing on Shell's massive overbooking of oil and natural-gas reserves. Shell stunned investors and industry observers Jan. 9 by saying it would slash its tally of oil and gas reserves by 20 percent.
In a surprise move, the twin boards of Shell and Royal Dutch ended the short, troubled tenure of Philip Watts at the helm of one of the world's largest publicly traded oil companies, the Wall Street Journal reported.
Also out is Walter van de Vijver, who had led Shell's global exploration and production business.
Shell said it named Jeroen van der Veer, president of Royal Dutch, to succeed Watts as chairman of Shell's committee of managing directors, the group's top decision-making body. Malcolm Brinded, a Royal Dutch board member, will succeed van de Vijver as head of exploration and production.
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PERTH, Australia, May 22 (UPI) --
Australia has scrapped the planned $8.8 billion expansion of the Abbot Point coal terminal in Queensland.
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WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
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