Exxon Sues U.S. Interior Department
Investing News Network - August 18th, 2011
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.