US oil major ExxonMobil is suing the EU in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.
“Whether we invest here primarily depends on how attractive and globally competitive Europe will be,” Norton added. Exxon said it invested $3bn over the past decade in refinery projects in Europe, helping it deliver more energy products at a time when Europe struggles to reduce its imports from Russia.
“That goes against the intent of increasing suppliers and making energy more affordable,” Chevron CFO Pierre Breber said in October.
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