FOUR FIRMS SETTLE CALIFORNIA PRICE-FIXING SUITS

Four of the five remaining oil companies involved in a 16 year legal action with California and the city of Long Beach over alleged crude oil price-fixing have tentatively agreed to a $220 million settlement. Chevron Corp., Mobil Oil Corp., Shell Oil Co., and Texaco Inc. agreed to the proposed settlement last week. The state and Long Beach said they will go to trial Sept. 3 to seek further damages from Exxon Corp., the remaining company involved. ARCO and Unocal Corp. earlier struck separate

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive

Subscribe

More in Companies