U.S. regulator ends Exxon Mobil accounting probe by recommending no action

HOUSTON (Reuters) – The U.S. Securities and Exchange Commission has recommended no action against Exxon Mobil Corp (N:) over its oil-reserves accounting, ending a two-year probe with a victory for the company.

The SEC in 2016 launched its review of Exxon’s reserves valuation in the wake of low prices and concerns over potential curbs on carbon emissions left its valuations too high.

The decision, in a letter to the company dated Thursday, shows Exxon’s “financial reporting meets all legal and accounting requirements,” said company spokesman Scott Silvestri.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.