A former employee’s lawsuit against oil giant Shell PLC (NYSE:SHEL) has reportedly peeled back the curtain on the financial intricacies of its expansive oil and gas trading enterprise.
The lawsuit documents unveiled in a Texas state court shed light on the company’s closely-guarded secrets, particularly regarding its U.S. crude trading operations.
Testimony by John Dimech, a former head of Shell’s U.S. crude trading division, offered a rare glimpse into the substantial profits reaped by the trading arm, along with the lavish bonuses bestowed upon traders, reported Reuters.
Dimech, who served as a manager in Shell’s crude oil trading group in Houston for over a decade, disclosed in his deposition that the crude trading unit consistently ...