#Monarchives

Chad orders foreign oil firms out

Chad orders foreign oil firms outfrom bbc news: Chad has ordered two major foreign oil firms to leave the country on Sunday in a row over taxes. President Idriss Deby gave the order to US firm ChevronTexaco and Malaysia's Petronas after deciding on Saturday.

"Chad has decided that as of tomorrow ChevronTexaco and Petronas must leave Chad because they have refused to pay their taxes," Mr Deby said.

There was no immediate comment from the two firms, which are responsible for handling 60% of Chad's production. The decision leaves only Exxon Mobil remaining in the consortium which handles the country's oil production. President Deby said his government would take control of the remaining reserves... the surprise decision has sent shock waves around the oil industry.

#PumpUpThaVolume: September 18, 2020