Alaska oil companies settle dispute over Trans-Alaska Pipeline tariff charges

ANCHORAGE, Alaska (Reuters) - The state of Alaska will receive hundreds of millions of dollars in a settlement with oil companies over the value of North Slope crude oil shipped through the Trans-Alaska Pipeline (TAP), officials announced.

The settlement between Alaska and the companies that own the 800-mile oil artery concerns transportation tariffs charged by the pipeline owners between 2009 and 2015.

Alaska claimed that the Alyeska owner companies, including BP, ConocoPhillips, ExxonMobil, Koch Industries and Unocal, overstated the tariffs and improperly devalued the oil delivered by the pipeline, thus reducing state income.

“This settlement is a great result for the State,” Alaska Attorney General Jahna Lindemuth said in statement. “It creates certainty going forward, avoids future litigation, and will provide additional taxes and royalties -- bringing needed money to the state treasury.”

Read more: https://www.reuters.com/article/us-alaska-pipeline-settlement/alaska-oil-companies-settle-dispute-over-trans-alaska-pipeline-tariff-charges-idUSKBN1EA02X?il=0