Big Oil Lashes Out At Brazil For Surprise Crude Export Tax ...Middle East

Big Oil majors with operations in Brazil have filed an injunction against a new oil export tax that the Lula da Silva government introduced surprisingly a week ago. The Brazilian government announced at the start of this month that it would collect taxes on crude oil exports for four months in a bid to offset the effects of an earlier decision to keep fuels tax-exempt, Reuters reported at the time. That decision, however, was made without consulting the industry and it will increase uncertainty about future investments in Brazil’s oil and…

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