API applauds Supreme Court's decision not to hear royalty case

10/5/2009 | Reuters

The Supreme Court decided not to hear the Interior Department's appeal of a decision that says Anadarko Petroleum does not have to pay about $350 million worth of royalties for drilling on federal leases in the Gulf of Mexico granted between 1996 and 2000. American Petroleum Institute President Jack Gerard said the ruling "definitively reaffirms the Fifth Circuit's unanimous decision that Congress, when it passed the Deep Water Royalty Relief Act, provided royalty relief based only on a volume limitation, not on price."

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