Latest Export Tax News

Karoon Energy reveals the Brazilian government has extended its 12% crude oil export tax for an additional 60 days. The company continues legal efforts to contest the tax while leveraging trade agreements to mitigate its impact.

The Brazilian government has imposed a 12% tax on crude oil exports effective immediately, a move framed as windfall profit sharing amid high oil prices. Karoon Energy, with significant Brazilian operations, faces new cost pressures as the tax awaits potential ratification by Congress.