ExxonMobil Corp. posted a 50 percent increase in net income for its third quarter. AFP
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ExxonMobil Corp. and Chevron Corp. paid no tax in Australia in the 2016 financial year, the third year in a row, despite reporting billions of dollars in income from operations in the country, a report from the tax office showed Thursday. ExxonMobil, which has oil and gas production in the Bass Strait and a stake in the giant Gorgon LNG project among other assets in Australia, reported 6.7 billion Australian dollars ($5 billion) in income, but it reported a loss for taxable income and paid no tax, similar to the previous two years.Chevron reported AU$2.1 billion in income for 2016 and paid no tax, while Shell Energy Holdings Australia – a unit of Royal Dutch Shell – reported AU$4.2 billion in income and AU$97 million in taxable income, but paid no tax.
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