French official threatens ‘windfall profit’ tax

French Finance and Economy Minister Thierry Breton has threatened to initiate a windfall profits tax against oil majors Total SA, Esso, BP PLC, and Royal Dutch Shell PLC-all of which operate refineries in France-if they do not develop “concrete and tangible proposals” to “return to consumers a part of the exceptional profits corresponding to an exceptional situation amassed since the beginning of the year.

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