Conoco Unit To Pay Up For 2004 Wash. Oil Spill

By Melissa Lipman (March 15, 2010, 5:52 PM EDT) -- A ConocoPhillips Co. subsidiary has agreed to pay $588,000 to settle claims from federal and Washington state environmental regulators seeking damages for thousands of gallons of oil that one of the company's tankers spilled into the Puget Sound in late 2004.

The complaint and proposed consent decree — both filed Monday in the U.S. District Court for the Western District of Washington — call for the bulk of the funds from Conoco unit Polar Tankers Inc. to go toward a restoration plan to improve three of the coastal areas affected by the oil spill.

Polar Tankers has not admitted any wrongdoing...

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