MARSHALL ISLANDS: Mobil uses 'blackmail tactics'

July 20, 2005
Issue 
634
World

Mobil Oil Micronesia, the sole fuel supplier in Majuro, has been accused of trying to blackmail the local utility company to agree to unreasonable profit margins for Mobil. A diesel supply contract expired late last year, and negotiations for a new contract between ExxonMobil subsidiary Mobil Oil Micronesia and the Marshalls Energy Co. have been unsuccessful, with the MEC refusing to agree to a new deal that would amount to a 600% increase in Mobil's profit margins. MEC was told in June that prices will rise and it will now have to pay millions of dollars in advance of diesel shipments.

From 91×ÔÅÄÂÛ̳ Weekly, July 20, 2005.
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