N'DJAMENA (Oct 6): Exxon Mobil Corp said it’s weighing its next steps after the High Court in Chad ordered the oil company to pay US$819 million in royalties. “We disagree with the Chadian court’s ruling,” spokesman Todd Spitler said in an e-mail Thursday. The ruling was against a consortium of three oil companies led by Exxon Mobil, which operates a pipeline carrying crude from Chad to a marine terminal in Cameroon for export. Chevron sold its stake in Chad in 2014 and declined to comment, spokeswoman Isabel Ordonez said by e-mail. Chad’s Finance Minister Ngabo Seli Mbogo said the court ruling was clear and he didn’t want to comment further.

Source: The Edge Markets October 06, 2016 15:33 UTC