BP Amoco settles US oil royalties case for US$32m

PUBLISHED : Thursday, 13 April, 2000, 12:00am
UPDATED : Thursday, 13 April, 2000, 12:00am


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Washington: BP Amoco agreed to pay US$32 million to resolve claims it underpaid royalties to the US Government for oil extracted from federal and American Indian land since 1988, the Justice Department said. The settlement is part of a US$223 million December agreement that BP and 17 other oil producers reached with the government and several Indian tribes. Conoco agreed to pay US$26 million, Chevron US$95 million, Exxon Mobil US$45 million and Occidental Petroleum US$7.3 million.