An oil company was ordered to pay $22.9 million for understating the amount of royalty it owed the federal governments for oil pumped from offshore oil leases.
A federal judge ruled that Kerr-McGee Corp. understated the value of the oil and natural gas produced from the leases, allowing it to pay fewer royalties than the government was entitled to, The Wall Street Journal said.
Anadarko Petroleum…
Continue reading Judge Orders Oil Company to Pay $22.9 Million for Understating Royalties
Judge Orders Oil Company to Pay $22.9 Million for Understating Royalties originally appeared on DailyFinance on Tue, 21 Sep 2010 06:34:00.
Filed Under: Energy, Company News, Technology, Green, Taxes