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Anadarko Petroleum to pay $6.4b in pollution case

Published on Apr 4, 2014 4:17 AM
 

NEW YORK (AFP) - Anadarko Petroleum said Thursday it will pay US$5.1 billion (S6.4 billion) to settle environmental claims against Kerr-McGee, an oil company it acquired in 2006.

The settlement follows a December US court ruling that said Anadarko owed as much as US$14.5 billion to address Kerr-McGee's environmental liabilities prior to the acquisition.

Anadarko said the settlement removed doubts that have depressed the value of its stock.

The dispute concerns claims that Kerr-McGee, which also had a chemicals business, left waste sites around the United States tainted with uranium contamination, thorium and other toxins that pollute land and water.

 
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