Guyana Takes Exxon to Court Over Misstated Value of Equipment [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Most Read from Bloomberg Saudi Arabia Steps Up Arrests Of Those Attacking Israel Online Everything Apple Plans to Show at May 7 ‘Let Loose' iPad Event Apple Rallies Most in 18 Months on Upbeat Forecast, Buyback Trump Auditions VP Picks Before Wealthy Donors in Palm Beach Turkey Confirms All Trade Halt With Israel Over War in Gaza The Guyana Revenue Authority issued a summons to the oil giant, with a hearing is scheduled for May 10, according to the agency's Commissioner-General Godfrey Statia. Exxon and Ramps Logistics, a Trinidad-based company, said the overvaluation stemmed from a clerical error that denoted the sum in US dollars instead of Guyanese dollars. A Guyana dollar is worth about one-half of a US cent. The error was “caught early,” and “nobody suffered any loss,” Exxon country manager Alistair Routledge said. The company has updated its procedures to make sure it won't be repeated, he said. Under Guyana's production sharing contract with Exxon, the govern
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XOM
Earnings
- 4/26/24 - Miss
XOM
Sec Filings
- 5/17/24 - Form DEFA14A
- 5/15/24 - Form DEFA14A
- 5/15/24 - Form SD
- XOM's page on the SEC website