Chad to punish Exxon Mobil $74 billion equivalent to the country’s 5 year gdp- Sohu news-jiuyaogan

Chad will be fined $74 billion Mobil Exxon in the country for 5 years GDP- Sohu news failed to pay enough taxes by Chad court accused Exxon Mobil Corp face fines of $74 billion, plus $819 million in taxes. Such a hefty fine is almost 5 times more than Chad GDP. According to Bloomberg news, local time on October 5th, in the capital Ndjamena, Chad, Chad Supreme Court announced on the American Oil Co Exxon Mobil litigation judgment, Exxon Mobil Corp in the past 15 years failed to fulfill their obligations to pay taxes, pay a penalty of $74 billion, plus $819 million in taxes. Chad’s government has issued a ticket to Exxon Mobil, more than the $61 billion 600 million penalty it faced after the Deepwater Horizon disaster in 2010. At the same time, it is also Mobil Exxon oil spill in Alaska in 1989 to pay a fine of 70 times. The World Bank estimates that Chad’s GDP is $13 billion, in other words, Chad calls for more than 5 times as much fines as the country’s GDP. "The Chadian government is unlikely to recover so many fine. This is equivalent to the loss of all the assets of Exxon Mobil in chad. I don’t think they’re in Chad’s assets can offset such huge fines." International law teachers in Losangeles Loyola law school in an interview with Bloomberg News said. Exxon Mobil, the world’s largest oil producer, began operations in Chad in 2001 and began producing oil in 2003. In addition, Exxon Mobil also manages to get the oil pipeline at the Cameroon terminal. "We do not agree with the court ruling that the company is evaluating follow-up actions. The dispute involves the government’s commitment to corporate differences, rather than the government’s ability to tax." Exxon spokesman Todd speto? Said, but he declined to comment on a fine of $74 billion. Ibrahim, President of the Supreme Court of Chad, Abu, confirmed the matter to Bloomberg, but said the final fine may be less than the amount of the ruling. Chad is located in Central Africa, the country’s economic income depends mainly on oil. Chad’s oil production was 120 thousand barrels a day in 2015. In the past 2 years, as international oil prices plunged, Chad’s economy has been declining. According to world bank data, in 2014 Chad GDP growth rate of 6.9% in 2015 fell to 2.6%. In addition to the fall in oil prices, Nigeria’s budget has fallen because of the riots in Cameroon that have blocked trade with Chad and Nigeria. There have been strikes and protests in chad. Chad’s government is not the first time to open a ticket to overseas companies. In 2006, President Deby of Chad to Chevron and Malaysia oil company to open a ticket, because the two companies failed to hand over taxes, asked the two companies to leave Chad in 24 hours. The two companies denied the allegations, but the case was later resolved.相关的主题文章: