RealNews

Chad eyes bigger share of its oil profits

Describing Chad’s profits from a multibillion-dollar pipeline as “crumbs,” President Idriss Deby is trying to grab a larger slice of the petrodollar pie, joining the trend of “resource nationalism” in vogue from Algeria to Venezuela. Mr. Deby’s opening salvo made oil executives and diplomats take note. Just over a week ago, he ordered Chevron and Malaysia’s Petronas, who hold 60 percent of the consortium operating the $3.7 billion pipeline, to leave the country for tax nonpayment – a charge both companies deny. Full Story

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