Maersk Loses $190 Million Danish Supreme Court Oil-Tax Case (1)

A.P. Moller-Maersk A/S lost a supreme court case in Denmark over taxable income from oil and gas facilities in Algeria and Qatar, which have since been taken over by TotalEnergies SE.

Maersk must pay tax on about 1.3 billion kroner ($190 million) of income generated from 2006 to 2008, the Copenhagen-based court said in a ruling on Wednesday, overturning a 2022 verdict by a lower court.

Maersk has already made extra tax payments in subsequent years to cover a potential penalty and therefore doesn’t expect it will have to pay any money now, it said in an emailed statement. ...