Exxon in Negotiations With Chad About $74 Billion Penalty
- Oil company’s fine appeal has been delayed by the talks
- Fine exceeds amount BP paid out after Deepwater Horizon
Exxon Mobil Corp. signage is displayed on a fuel pump at a gas station in Richmond, Kentucky.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Exxon Mobil Corp. is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties.
While the world’s biggest oil producer by market value, valued at $360 billion, has appealed the Oct. 5 ruling by the High Court, the appeals court hearing has been delayed because of the talks, Thomas Dingamgoto, a lawyer for the company, said in an interview in the capital, N’Djamena.