Oil and gas giant Exxon Mobil is suing Australia’s Macquarie Energy to avoid paying US$11.7 million (around A$15.2 million) in damages for missed deliveries.
The two energy companies will face the Texas court as Exxon seeks a ruling that last month’s deep freeze was a natural disaster.
Essentially, Exxon’s natural gas business is arguing that the massive storm and severe weather conditions, combined with Texas state declarations of emergency, prevented it from fulfilling supply commitments to Macquarie.
Macquarie Energy is the second-biggest United States gas marketer. Read more…..
Chart of the Day
Amazon CEO & Founder Jeff Bezos share his wisdom to us.