And now:Sonja Keohane <[EMAIL PROTECTED]> writes:
For more reference information:
<http://www.dickshovel.com/rogue.html> on this chronic mismanagement by the
US government and the Minerals Management Services of the Department of the
Interior <http://www.mms.gov/>
<http://dailynews.yahoo.com/h/ap/19990910/bs/chevron_settlement_1.html>
Friday September 10 2:04 PM ET
Oil Cos. Settle Royalty Dispute
LUFKIN, Texas (AP) - Chevron Corp. (NYSE:CHV - news), BP Amoco PLC
(NYSE:BPA - news) and Conoco Inc. (NYSE:COCa - news) reportedly have agreed
in principle to pay about $155 million to settle charges that they
underpaid oil royalty payments.
Chevron would pay about $95 million and BP Amoco PLC and Conoco Inc. would
pay about $30 million each, The Dallas Morning News and the Wall Street
Journal reported in Friday's editions.
The settlements would resolve charges made by two whistleblowers in a 1996
lawsuit against 18 large oil companies.
In the lawsuit filed in federal district court in Lufkin, the
whistleblowers alleged that the companies knowingly undervalued oil they
extracted from federal and Native American lands beginning in 1988 to
reduce the royalties they owed.
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