ExxonMobil seeks settlement in $800 mln Chad tax dispute -sources

Tue Mar 11, 2014 12:25pm EDT

N'DJAMENA, March 11 (Reuters) - An ExxonMobil-led consortium in Chad is seeking an out-of-court settlement after the government filed a legal claim for more than $800 million in unpaid taxes, finance ministry sources said on Tuesday.

The Central African government on March 3 filed a legal claim for 396 billion CFA francs ($837.90 million) in royalties from the consortium which also includes Chevron and Petronas.

A representative for the Exxon consortium in the country declined to give an immediate comment. ExxonMobil's press service in Houston could not immediately be reached for comment.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.