Court of Chad has fined Exxon Mobil for a record $74 billion

Court of Chad has fined Exxon Mobil for a record $74 billion


Photo: Reed Saxon/AP

Court of Chad has fined Exxon Mobil $74 billion. This amount is equal to the GDP of the African country for five years

As reported by Bloomberg, the court in the Chadian capital n’djamena upheld the claim of the Ministry of Finance, accused the Exxon Mobil-led consortium of failing to pay taxes. The court found that the U.S. company must pay in connection with the payment of $74 billion, and further to transfer $819 million in royalties.

The decision of the court of n’djamena is remarkable that the fine imposed them — for the largest oil companies. Until now, the maximum payout for a total of $61 billion, saying BP after the accident in the Gulf of Mexico in 2010. Then, as a result of an accident on an oil platform, 11 people were killed, and the ecology of the region had suffered considerable damage.

However, as pointed out by the Agency Bloomberg , an expert in international law from Los Angeles Jeffrey Atik, Chad is unlikely to receive the full amount that they requested the court of n’djamena. According to him, other countries will not help a child to enforce the decision. If Exxon Mobil decides to leave the African state, leaving behind all their possessions, in this case, losses are not so great.

The representative of Exxon Mobil Todd Spitler has said that the company disagrees with the decision of the court of Chad. However, he did not attempt to explain how the African country’s authorities took the amount specified in the lawsuit.

Exxon Mobil since 2003, produces oil in Chad, and also owns a pipeline which produced comes to Cameroon for further export. Partner work some time was Chevron, but in 2014, she left the project.

In 2006, the President of Chad, Idriss déby has accused Chevron and Malaysia’s Petronas for not paying taxes, demanding from them in 24 hours to shut down its operations and leave the country. However, later the case was closed.