FT: Shell files revised statement with SEC: The revision was necessary because of the Dutch-UK oil and gas group's serial restatements of proved reserves earlier this year. (ShellNews.net)

By Clay Harris

Published: July 3 2004 5:00 | Last Updated: July 3 2004 5:00

Royal Dutch/Shell late yesterday filed its revised 20-F financial statement for 2002 with the US Securities and Exchange Commission.

The revision was necessary because of the Dutch-UK oil and gas group's serial restatements of proved reserves earlier this year. Shell downgraded its proven reserves by 4.47bn barrels, or 23 per cent, in four separate revisions starting in January.

The 20-F statement for 2003 was filed earlier in the week. Shell said last night that all of the financial impact of the new SEC filings had been reflected in its 2003 annual report published in late May.