Exxon sues U.S. over taxes related to gas project in Qatar
ExxonMobil Corp filed a suit against the U.S. seeking a partial refund of $2.1 B in taxes and penalties tied to a Middle East gas project in Qatar, according to a filing on Friday in U.S. district court in Dallas.
Exxon and QatarEnergy have a partnership to explore and develop offshore natural gas reserves in the North Field, one of the world's largest. Its lawsuit alleges overpayment of income taxes and misclassified agreements as purchases and not leases.
The U.S. "has erroneously collected taxes and assessed penalties that were not owed for tax years 2010 and 2011," Exxon alleged in the filing. While an abatement is pending, the U.S. Internal Revenue Service has not respected the partnership’s decision to finance its business venture with debt, Exxon said.
(Reporting by Sabrina Valle, Editing by Rosalba O'Brien)
- Digital Exclusive: Evolving pressure relief valve designs protect LNG facilities
- JGC-Hyundai JV awarded EPC contract for major low-carbon LNG plant project in Papua New Guinea
- TC Energy approves $1.5-B Columbia Gas expansion after profit tops estimates
- NextDecade to use Honeywell liquefaction technology for 30-MMtpy LNG terminal
- Wärtsilä continues to expand its data center footprint with new 790 MW order in Texas
Comments