LAW & REGULATION

Chevron to Pay $95.5 Million to Ex-Gulf Workers: Chevron Corp. has agreed to pay $95.5 million to 16,000 former employees of Gulf Oil Corp. who lost benefits when the companies merged in 1984. Under the agreement in federal court in Houston, Chevron will also place $65 million in the Chevron pension plan for the use of the employees. U.S. District Judge Sim Lake awarded the employees $160 million in April, a judgment that San Francisco-based Chevron appealed. Lake pushed for an agreement so the workers, whose average age is 68, would not have to go through a lengthy appellate process before receiving money.