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The Anglo-Dutch oil giant Royal Dutch/Shell (SC - Cramer's Take - Stockpickr) Monday trimmed its forecast of proven energy reserves again and said its CFO was leaving the company, according to media reports. The company said an internal review determined that reserves had been overstated by 24%. CFO Judith Boynton also stepped down on Monday. In early January, Royal Dutch/Shell stunned the markets by saying reserves -- a key industry measure -- had been overstated by 20%, which led to the early March departure of its chairman Philip Watts, as well as the head of its oil and gas division. Then in mid-March the company revised its estimate again, trimming proven reserves by 21%. The Securities and Exchange Commission is among the government agencies investigating the accounting of reserves.
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