Oil and Gas

Exxon lodges claim at Stockholm court in Russia tax dispute-ministry

MOSCOW, April 2 (Reuters) - U.S. oil and gas major ExxonMobil has lodged a claim against Russia at the Stockholm arbitrage court as part of a tax dispute over its project in Russia’s far east, a spokeswoman for Russia’s Energy Ministry said on Thursday.

The ministry did not provide any details of the lawsuit.

Exxon in Moscow declined immediate comment.

Exxon believes it overpaid profit taxes on the Sakhalin-1 oil and gas project, in which it owns a 30 percent stake, and is now seeking a cut in taxes and reimbursement of a part of the taxes it already paid, according to local media.

Russia reduced the profit tax in 2009 to 20 percent for production-sharing agreements such as Exxon’s Sakhalin-1 but Exxon continued to pay at an earlier level of 35 percent after the project broke even in 2008. (Reporting by Olesya Astakhova and Vladimir Soldatkin; Writing by Maria Kiselyova, editing by Elizabeth Piper)