Woodside Energy Group (ASX:WDS) is facing a complaint lodged with the Australian Securities and Investments Commission (ASIC) by activist group Market Forces, according to a Wednesday report by the Australian Financial Review.
The complaint alleges the company misled investors over oil demand forecasts and misrepresented key climate data to justify its $7.2 billion Trion oil project in Mexico, per the report.
The Trion project has faced criticism from environmental groups for its assumptions about future oil demand.
In response to MT Newswires' request for comment, a Woodside spokesperson said the company has not been notified of any ASIC lodgement and cannot comment on the reported claims but confirmed that Trion's expected returns exceed its capital allocation targets.
Market Forces did not immediately respond to a request for comment by MT Newswires.
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