Chada court fined Exxonmobil $ 74 billion

The Cad court ordered the Exxonmobil oil company to pay a fine of $ 74 billion and reimburse $ 819 million to the African state. It is reported by Bloomberg.

“We do not agree with the decision of the Chad court and evaluate what steps we should take,” said the representative of Exxon.

In an interview with the agency, President of Chada Brahim Abbo Abakar said that the court made a decision after a complaint of the Chad Ministry of Finance on non -compliance with Exxonmobil tax liabilities. At the same time, he emphasized that the actual fine could be lower, but did not specify how much. It is noted that the material of the case indicates the figure of $ 669 million.

The World Bank evaluates a child’s GDP of $ 14 billion, respectively, the Exxon fine exceeds this indicator by almost six times.

In the second quarter of 2016, the profit of the oil company was the smallest since 1999 and amounted to $ 1.7 billion, decreasing by 59% compared to the same period last year.

In September, The Wall Street Journal wrote that the New York Prosecutor General began an investigation to find out why Exxonmobil did not write off the value of its assets, despite the fall of world oil prices over the past two years. The representative of the oil company refused to comment on this information, emphasizing that Exxonmobil complies with all laws and rules.

In 2006, the Chad authorities suspected the company Chevron and Petronas in tax evasion and gave them 24 hours to stop activities in the country. The companies initially denied the charges and later regulated this issue.