Exxon disagrees with court's $75 billion fine for its Chad consortium

Exxon disagrees with court's $75 billion fine for its Chad consortium
 

N'DJAMENA ExxonMobil (XOM.N) said on Thursday it disagreed with a court decision in Chad that fined a consortium led by the U.S. oil major over 44 trillion CFA francs ($75 billion) - nearly four times BP's record Deepwater Horizon settlement - over unpaid royalties.
The decision would see the central African nation awarded the equivalent of nearly seven times its annual gross domestic product.
"We disagree with the Chadian court's ruling and are evaluating next steps," Exxon media advisor Todd Spitler said in an emailed response to a Reuters request for comment.
Malaysian state... read more

 
6 October 2016 in Business, Views: 51
Source: Reuters
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