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Karoon Energy Ltd (ASX:KAR)

ALERT: Price-sensitive ASX Announcement for KAR
Current share price for KAR : $1.455 -0.525 (-26.52%)+
Release
13 Mar 2026 9:53AM
Price at Release
$1.980
Full Release
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Summary
Karoon Energy Ltd announced that the Brazilian government has imposed a 12% tax on crude oil exports starting 12 March 2026. This tax is part of a windfall profit-sharing measure in light of the current oil price environment and is expected to be deductible for corporate income tax purposes. The tax will remain in effect for 120 days, pending ratification by the Brazilian Congress. The announcement was authorized by the CEO and Managing Director of Karoon Energy Ltd.
Key Points
  • Karoon Energy Ltd announced a 12% tax on Brazilian crude oil exports.
  • The tax is effective from 12 March 2026, subject to congressional ratification.
  • Brazilian government describes the tax as windfall profit sharing.
  • The tax is deductible for corporate income tax purposes.
  • Karoon's CEO and Managing Director authorized the announcement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.