Anadarko to prepare legal challenge to oil profits tax
The US' Anadarko Petroleum Corporation is to seek international arbitration over the country's new profits tax, which could cost it $450 million a year.Anadarko, the largest oil producer in Algeria, says the tax would cost it $100 million in the last five months of 2006. 'We have the contractual right to international arbitration,' says chief executive officer Jim Hackett. 'We believe the sanctity of this agreement will ultimately lead to the recovery of any monies withheld.' Anadarko ...
Subscriber access only
Sign In
- If you are a new, paid MEED subscriber accessing the site for the first time, please activate your account.
- If you are a registered user who would like to to enjoy unlimited access to MEED.com, click subscribe to purchase a subscription or contact Customer Service by email or by calling +971 (0) 4 368 1588.
- Alternatively, you may browse MEED.com as a registered user for free. Our quick registration will allow you to sample premium business intelligence which is otherwise only available to paying subscribers through our Editor's Choice section, sign up for newsletters and to set up a library of saved articles.
