Exxon disagrees with Newfoundland over Hibernia

Exxon (NYSE:XOM) seems to have continuing trouble with Newfoundland’s Premier Danny Williams over the accounting related to the Hibernia field. An independent audit has found Exxon’s claims underwhelming. Exxon of course argues that the field has not been as productive as expected. The province feels they have found evidence to the contrary. Exxon may be surprised by what Danny Williams will do for the people of Newfoundland. He is not a tin pot dictator. His understanding of process will be excellent.