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SEC Investigates Exxon Mobil on Value of Key Asset

Stocks of ExxonMobil Gas Company dropped over 5% January 15 when a report from the Wall Street Journal stated that the U.S. Securities and Exchange Commission (SEC)’s investigation on the valuation of key asset in  Oil Producing Area of  The Permian Basin.  Allegedly, the oil and gas corporation has forced its employees to offer incorrect information; Exxon rejected this claim as “demonstrably false.” Suffering a bad year in 2020, the company adopted strategies to cut costs, some of which are believed to bring good results in the end. Barclays financial services company recently stated the prospects sound ok. Samira H.
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By Samira Hassanzadeh on October 19, 2021


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