3 U.S. Oil Majors Reveal $42 Billion in Foreign Payments in 2023
ConocoPhillips(COP) ZACKS·2024-10-01 23:16
The three largest U.S. oil companies — Exxon Mobil Corporation (XOM) , Chevron Corporation (CVX) and ConocoPhillips (COP) — revealed that they collectively paid more than $42 billion to foreign governments in 2023, about eight times the amount paid in the United States, per a Reuters report. These revelations are a direct result of a new Securities and Exchange Commission (“SEC”) regulation that required transparency in payments made to foreign governments for the first time. Currently, these stocks carry a ...