Russia Said to Prepare for Exxon Arbitration Claim This Week
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Russia is preparing for the possibility that Exxon Mobil Corp. will file an arbitration claim over taxes as a statute of limitation for part of a disputed payment at its offshore project expires this week, said two Moscow officials with knowledge of the matter.
Exxon is seeking a cut in profit tax for the 30 percent-owned Sakhalin-1 oil venture it operates in the country’s Far East, the people said, asking not to be identified as the information is private. The company, based in Irving, Texas, also wants to get back tax it paid above the reduced rate for the past seven years, they said.