BP Settles Alaskan Tax Dispute For $379M

Law360, New York (January 2, 2008, 12:00 AM EST) -- BP Exploration (Alaska) Inc., a key subsidiary of British energy giant BP Plc, has agreed to pay $379 million to settle a dispute with the state of Alaska.

Alaska Governor Sarah Palin announced the settlement on Monday.

The sum covers what Alaska characterized as outstanding liabilities, namely for corporate taxes for the tax years 2000, 2001 and 2002. Alaska said that state law prohibits it from disclosing the details of the dispute or the settlement.

“I am very pleased with this settlement and appreciate BP’s willingness...
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