DOE Breached Oil Field Division Deal With Chevron, CFC Says

Law360, New York (May 9, 2013, 7:45 PM EDT) -- Chevron Corp. won a long-running suit seeking costs incurred during allegedly tainted negotiations over a jointly operated California oil field on Thursday after the U.S. Court of Federal Claims found that the U.S. Department of Energy breached its contracts with the oil giant.

The court determined that the DOE "repeatedly and materially" violated its agreement to equitably determine asset ownership at the Elk Hills oil and gas reserve near Bakersfield, Calif., which it sold to Occidental Petroleum Corp. for $3.7 billion in 1997.

"The purpose of...
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