Chevron Says BP, Exxon Seized $13M In Oil Over Pipeline Fee

Law360, Houston (February 1, 2013, 7:14 PM EST) -- A Chevron Corp. unit on Friday fired off a suit in Texas court, alleging subsidiaries of BP PLC, Exxon Mobil Corp. and others owe it a contractual exit fee from an 800-mile pipeline venture as well as $13 million in oil currently stranded in the line.

Unocal Pipeline Co. says BP Pipelines (Alaska) Inc., ExxonMobil Pipeline Co. and ConocoPhillips Transportation Alaska Inc. refuse to buy out UPC’s interest in the Trans Alaska Pipeline System and are holding 130,000 barrels of oil it owns hostage.

“The continuing...
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