UK markets close in 7 hours 6 minutes
  • FTSE 100

    7,182.27
    +9.79 (+0.14%)
     
  • FTSE 250

    22,611.33
    -20.39 (-0.09%)
     
  • AIM

    1,243.08
    -1.10 (-0.09%)
     
  • GBP/EUR

    1.1631
    +0.0023 (+0.20%)
     
  • GBP/USD

    1.4108
    +0.0026 (+0.18%)
     
  • BTC-GBP

    28,467.10
    -271.46 (-0.94%)
     
  • CMC Crypto 200

    998.97
    -11.64 (-1.15%)
     
  • S&P 500

    4,246.59
    -8.56 (-0.20%)
     
  • DOW

    34,299.33
    -94.42 (-0.27%)
     
  • CRUDE OIL

    72.46
    +0.34 (+0.47%)
     
  • GOLD FUTURES

    1,861.90
    +5.50 (+0.30%)
     
  • NIKKEI 225

    29,291.01
    -150.29 (-0.51%)
     
  • HANG SENG

    28,436.84
    -201.69 (-0.70%)
     
  • DAX

    15,687.73
    -41.79 (-0.27%)
     
  • CAC 40

    6,641.95
    +2.43 (+0.04%)
     

Exxon protests Australia's industry levy for Timor Sea oil field clean-up

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: Exxon Mobil Corp’s Altona refinery is seen on the outskirts of Melbourne
  • Oops!
    Something went wrong.
    Please try again later.

(Corrects day of week in first paragraph)

MELBOURNE (Reuters) - Exxon Mobil Corp on Thursday protested Australia's move to hit the oil and gas industry with a levy to cover the cost of removing facilities at an oil field off northwest Australia after a small firm that owned the project collapsed.

Exxon said it had proven that it could safely decommission facilities around the world and had the financial backing to do so and shouldn't have to help cover the costs of other companies unable to meet their obligations.

"Therefore, it was disappointing to see the federal government announce the introduction of an industry levy to pay for the decommissioning of the Laminaria-Corallina oil fields and associated infrastructure," Exxon said in its first public comments on the plan announced on May 12.

(This story refiles to correct day of week in first paragraph)

(Reporting by Sonali Paul; Editing by Tom Hogue)