Chevron, Petronas resolve Chad tax dispute

Chevron Corp. and Malaysia's state-owned Petronas have resolved a dispute with the government of Chad over the payment of taxes.

Oct. 9, 2006

Eric Watkins
Senior Correspondent

LOS ANGELES, Oct. 9 -- Chevron Corp. and Malaysia's state-owned Petronas have resolved a dispute with the government of Chad over the payment of taxes.

In a memorandum signed Oct. 6, Finance Minister Abbas Mahamat Tolli and Chevron's Africa Director Frederick Neilson, representing the two companies, agreed to pay $289 million in taxes.

In August, Chad President Idriss Deby accused Chevron and Petronas of failing to pay taxes and ordered the two companies to leave the country (OGJ Online, Aug. 28, 2006).

Contact Eric Watkins at [email protected].