BP's $7B Apache Deal Sours Over Canada Enviro Claim

Law360, New York (March 3, 2011, 12:20 PM EST) -- BP PLC revealed Wednesday that an Apache Corp. unit was taking it to arbitration over the purchase price of several Canadian sites Apache bought off the oil giant that allegedly need environmental compliance work.

Apache Canada Ltd. began the arbitration against BP Canada Energy Co. on Feb. 9, London-based BP said in its annual financial report.

BP Canada Energy has denied such costs will arise or require any adjustment to the purchase price, BP said, adding that the process of selecting the arbitrator has begun and...
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