Once criticized for being overstaffed, underinvested and politically led, state-controlled national oil companies (NOCs) are transforming themselves into lean, professionally managed enterprises.
Showing posts with label multinational oil and gas companies. Show all posts
Showing posts with label multinational oil and gas companies. Show all posts
April 29, 2011
Baucus Targets Billions in U.S. Oil Tax Breaks as Gasoline Prices Increase
Senate Finance Committee Chairman Max Baucus, citing rising gasoline prices and corporate profits, said he will seek to repeal billions of dollars in tax breaks for multinational oil and gas companies.
Baucus, a Montana Democrat, released yesterday what he called a blueprint for legislation that his tax-writing committee will craft. The proposal, offered the day Exxon Mobil Corp. (XOM) reported its highest net income in almost three years, seeks to eliminate a manufacturing tax deduction, reduce a tax credit for royalties paid to other governments and impose an excise tax on “certain Gulf leases,” according to an e-mailed statement.
Baucus, a Montana Democrat, released yesterday what he called a blueprint for legislation that his tax-writing committee will craft. The proposal, offered the day Exxon Mobil Corp. (XOM) reported its highest net income in almost three years, seeks to eliminate a manufacturing tax deduction, reduce a tax credit for royalties paid to other governments and impose an excise tax on “certain Gulf leases,” according to an e-mailed statement.
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