The US company says the levy on its profits will discourage future investment in Europe.
US energy giant ExxonMobil is suing the EU in a bid to force the bloc to scrap its new windfall tax on oil firms.Energy firms are getting much more money for their oil and gas, partly due to supply concerns as a result of Russia's invasion of Ukraine.
In September, European Commission chief Ursula von der Leyen announced the plan for major oil, gas and coal companies to pay a "crisis contribution" on their increased 2022 profits. But Exxon argues that the levy discourages investments and undermines investor confidence, in a challenge filed at the EU's Luxembourg-based General Court.
In an investor meeting earlier this month, ExxonMobil's chief financial officer estimated that the EU tax would cost the group "over $2 billion".
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Poland looks to nuclear energy to guarantee its energy independence\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
Weiterlesen »
Mild Weather Drags Energy Prices In Europe Down | OilPrice.comMild winter weather in many parts of Europe, rising wind power generation, and lower electricity consumption were dragging European natural gas and power prices lower on Tuesday.
Weiterlesen »
Surging Energy Costs Cripple UK Ceramics Industry | OilPrice.comSome ceramics companies have seen their energy bills jump tenfold, Bloomberg reports. The industry is forced to curtail production and cut jobs as the costs have become unsustainable for many manufacturers.
Weiterlesen »
ExxonMobil Sues EU Over Investment-Destroying Windfall Profit Tax | OilPrice.comHitting back at Brussels’ imposition of a windfall tax on oil companies, Exxon Mobil Corp is suing the European Union on the grounds that the tax will hinder investment and end up being “counter-productive”
Weiterlesen »
Banks are cutting loans to UK oil and gas producers, says energy industry\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Weiterlesen »
Banks are cutting loans to UK oil and gas producers, says energy industry\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Weiterlesen »