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From Times Staff and Wire Reports
BP Settles Alaska Royalty Dispute: Alaska’s largest oil producer, British Petroleum, agreed to pay $185 million to settle a 14-year-old lawsuit alleging that it cheated the state out of North Slope oil royalties. The settlement is the second-largest negotiated in the case, which the state brought against 12 companies. Last summer, Arco Alaska Inc. paid $287 million to settle. BP’s settlement brings to $486.8 million the amount paid the state.
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