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BP To Pay $255 Million For 2006 Pipeline Spills And Shutdowns

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November 9, 2012

The State of Alaska said Nov. 8 that it won a multi-million dollar arbitration award against BP Exploration (Alaska) Inc. 

The dispute related to money damages for oil production shortfalls caused by the 2006 pipeline leaks and pipeline replacements in the Prudhoe Bay oilfield. BP admitted liability for purposes of the arbitration, but contended that the State suffered no losses and asked the arbitration panel to award zero damages.

Following a four-week hearing in May and June, a three-arbitrator panel issued a unanimous decision in favor of the State on ...

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