BP pays $25.3 million in tax settlement - July 28, 2000

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

Vol. 5, No. 7

Week of July 28, 2000

BP pays $25.3 million in tax settlement

Petroleum News Alaska Staff

The Alaska Department of Revenue said July 6 that BP Exploration (Alaska) Inc. will pay the state $25.3 million to settle two years of outstanding tax issues. The settlement covers disputed production taxes and conservation taxes for 1996 and 1997 on BP’s share of oil production at the Prudhoe, Kuparuk, Endicott, and Milne Point fields.

BP is expected to transfer the funds to the state by July 7.

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