Exxon Sues U.S. Interior Department

Aug. 18, 2011 09:46AM PST

Bloomberg reports that Exxon Mobil Corp. (NYSE:XOM) sued the U.S. Interior Department, requesting a judge to set aside the agency’s decision to cancel offshore leases.

Bloomberg reports that Exxon Mobil Corp. (NYSE:XOM) sued the U.S. Interior Department over canceled Gulf of Mexico leases.

The market news is quoted as saying:

Exxon Mobil, the world’s largest publicly traded oil company, said federal regulations allow oil producers to suspend production in their fields, partly “to facilitate proper development of a lease.” Because of drilling complexity, Exxon Mobil said, it asked for a suspension for Julia in 2008.