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ExxonMobil sentenced to pay fine of USD 76 billion in Africa

US-based oil major ExxonMobil has been sentenced to pay a fine of approximately USD 76 billion by a court in the African nation Chad. The fine is greater than what British oil company BP paid in relation to the Deepwater Horizon scandal.

Photo: /ritzau/LM OTERO

An oil consortium, headed by US-based ExxonMobil, has been sentenced to pay a fine of approximately USD 76 billion by a court in the African country Chad. The fine is a result of a dispute over unpaid royalties to the government, writes Financial Times.

ExxonMobil's fine is larger in itself than the costs related to British oil company BP's Deepwater Horizon scandal, which towered at about USD 62 billion. Furthermore, the fine is almost seven times the size of Chad's GDP in 2015 of USD 10.9 billion.

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