Economy - Voice of America: East Timor to Seek Legal Action Against ConocoPhillips

Economy - Voice of America economy-and-business

East Timor to Seek Legal Action Against ConocoPhillips Jul 12th 2012, 14:30 JAKARTA — The tiny half-island nation of East Timor says it will seek legal action against the U.S. mining giant ConocoPhillips for unpaid mining taxes. The East Timorese government claims that U.S. mining company ConocoPhillips owes the country "millions, possible billions" in unpaid mining taxes. The small and impoverished nation has a $10 billion petroleum fund, which is almost entirely generated by the Bayu Undan project - operated by ConocoPhillips. Imbued by a new mandate following ... Media files: 63E3B617-0560-4212-90A1-168CFDA6728A_cx0_cy0_cw0_w800_r1.png (image/jpeg, 0 MB)

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