ConocoPhillips To Pay BP $264M Under Alaska Pipeline Plan

Law360, New York (July 17, 2013, 4:19 PM EDT) -- The Federal Energy Regulatory Commission on Tuesday greenlighted a cost-sharing agreement between Trans-Alaska pipeline owners BP PLC, ConocoPhillips Co. and Exxon Mobil Corp. in which ConocoPhillips agreed to pay $264 million to BP and $8.9 million to Exxon.

Houston-based ConocoPhillips agreed to pay the amounts as part of their cost-pooling agreement they proposed Sept. 25, 2012, for the 800-mile project that spans from the North Slope of Alaska to the Port of Valdez, according to ConocoPhillips.

BP will pay $1.8 million to Exxon, as part of...
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