- Exxon Mobil (NYSE:XOM) is asking the Russian government to return several billion rubles in taxes it says it overpaid on the Sakhalin-1 oil and gas project in Russia's far east in which it has a 30% stake.
- The Kommersant newspaper reported that XOM believes it overpaid profit taxes, as it continued to pay a 35% rate after Russia reduced its profit tax in 2009 to 20%; XOM is said to have overpaid by 10B rubles ($163.7M) in 2014 alone.
- XOM CEO Rex Tillerson is expected to meet with Russian Energy Minister Alexander Novak today, as well as several other top government officials during his stay in Moscow.
- XOM -0.5% premarket.