The Financial Times – Ed Crooks

The company faces questions about reserves and asset valuations as oil slumps

ExxonMobil prides itself on its reliability — in its finances as well as its engineering. So the warning the company issued on Friday about its reporting of oil and gas reserves was particularly uncomfortable.

As the world’s largest listed oil company reported a 38 per cent drop in earnings for the third quarter, Exxon made two separate but related warnings resulting from the weakness of energy prices this year.

Read the full article on The Financial Times website here.