EXXON, BP GRAPPLE WITH OIL SPILL PROBLEMS

03/05/1990
Exxon Corp. and BP America continue to grapple with problems associated with oil spills off Alaska and California. A federal grand jury in Anchorage last week indicted Exxon and Exxon Shipping Co. on felony and misdemeanor charges stemming from the Mar. 24, 1989, Exxon Valdez oil spill in Prince William Sound off Alaska. The Justice Department said if Exxon is convicted on the five count criminal indictment, the company could face fines totaling more than $700 million. Exxon last week slashed its 1989 net income to $3.51 billion from $3.81 billion by taking a further $300 million writedown related to Exxon Valdez spill c...
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