US oil major sues EU over windfall tax ...News

Exxon Mobil says the levy on excessive profits would not help lower bills for consumers US energy giant Exxon Mobil on Wednesday filed a lawsuit against the European Union, aiming to block the recently announced windfall tax on oil companies. The suit was filed by Exxon’s Dutch and German subsidiaries at the EU’s General Court in Luxembourg. It contests the legal authority of the EU Council to impose the levy, arguing that it should be a matter decided by each country individually. Brussels introduced the new tax in September as part of a package of measures aiming to curb the surge in energy prices. The price spi

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