Thursday, August 31, 2006

Oil and Gas: Malaysia's Petronas dispute Chad's tax allegations

Malaysian state oil company Petronas, has disputed the Chad government's claim it failed to pay millions of dollars in back taxes, adding it was attempting to resolve the issue.

Petronas and Chevron Corp. were ordered out of the country by Chadian President Idriss Deby last week after he claimed the oil giants failed to settle a $450 million tax bill.

A statement released by the company said, "Petronas would like to clarify that it has fully complied with its contractual obligation including all tax payments under the agreements that has been signed with the government of Chad in the year 2000."