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

Law360, New York (July 11, 2013, 4:20 PM EDT) -- The Fifth Circuit ruled Wednesday that Anadarko Petroleum Corp. was entitled to $9.1 million in shipping credits from Williams Companies Inc. on crude oil transported through the Trans-Alaska Pipeline System, agreeing with Anadarko that a trial judge had incorrectly interpreted contractual language.

The appeals court said U.S. District Judge Vanessa D. Gilmore erred in concluding that Anadarko's 2001 and 2002 agreements with Williams for the purchase of crude oil required “contemporaneous” payments and therefore precluded Anadarko from collecting the credit from a federally approved “quality bank”...
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