The Federal Energy Regulatory Commission backed Occidental...
The Federal Energy Regulatory Commission backed Occidental Petroleum in the energy conglomerate’s appeal of a $412-million court judgement, Oxy said. The dispute in a federal court in Wyoming centers on natural gas prices and an alleged breach of contract by an Occidental subsidiary, Natural Gas Pipeline Co. In a filing with the 10th Circuit Court of Appeals in Denver, FERC said the jury ruling should be overturned because it conflicts with the federal agency’s rulings on such issues. A jury first awarded $724 million to Colorado Interstate, a pipeline unit of Coastal Corp., but a judge lowered the damages.
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