Louisiana puts major on trial over royalties

摘要

Louisiana put ChevronTexaco on trial this week,alleging the major underpaid nearly US100-mil in state royalties from the venerable near-shore Bay Marchand field over a dozen years.The state also seeks termination of the company's 10 leases there.Louisiana's attorney general charges that between 1987 and 1999,Chevron paid royalties based on its own posted crude price,before transferring oil to a trading subsidiary that sold the oil at market prices.