Pipeline companies pledge millions to Native foundation - October 28, 2000

Providing coverage of Alaska and northern Canada's oil and gas industryOctober 2000

Vol. 5, No. 10

Week of October 28, 2000

Pipeline companies pledge millions to Native foundation

by The Associated Press

Owners of the trans-Alaska oil pipeline pledged a gift of $20 million to the First Alaskans Foundation endowment fund on Oct. 21 at the Alaska Federation of Natives annual convention.

The First Alaskans Foundation is a nonprofit organization dedicated to aiding Alaska Natives to meet future social, educational and economic challenges. It was formerly known as the AFN Foundation.

“This pledge will assist us as Alaska Natives to set our own course for the future and ensure the success of our children,” said Byron Mallott, foundation president.

British Petroleum, Phillips Petroleum, ExxonMobil, Amerada Hess, Unocal and Williams Energy Services will pay the $20 million proportionately according to their ownership in the pipeline. The companies previously had given $6 million to the foundation.

Mallott said the contribution will be the financial anchor for the endowment fund and enable the foundation to raise additional money from other donors.

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