Anadarko Tells 5th Circ. Williams Owes $9M In Oil Deal

Law360, Houston (February 11, 2013, 11:11 PM EST) -- Anadarko Petroleum Corp. on Friday told a federal appeals court that a subsidiary of the Williams Companies Inc. ignored agreements to pass through shipping credits on oil transported through the Trans-Alaska Pipeline System, cheating it out of more than $9 million.

In a brief filed with the Fifth Circuit, Anadarko says Williams Alaska Petroleum Inc. should have paid the price adjustment on oil it purchased and upon which it later received $9.1 million in credit from a federally approved “quality bank” that compensates shippers when their...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.