Paulson: credit crisis may be fading
ATHENS, Greece - The European Central Bank and the Bank of England are both expected to keep their interest rates unchanged Thursday, as more evidence mounts that growth in the euro zone and in Britain is likely to slow in coming months.
Representatives of Valero Energy Corp. and Chevron Corp. said they had joined the settlement, although a number of other oil companies are also named in a memo supporting the deal that was obtained by The Associated Press.
The companies confirmed their involvement after The Wall Street Journal reported on its Web site that several oil companies agreed to pay $423 million plus cleanup costs to settle groundwater contamination litigation involving 153 public water providers in 17 states. That would make it the largest settlement to date involving the additive.
"We've worked hard to reach a responsible resolution to the cases being settled and are pleased to be moving forward," Chevron spokeswoman Stephanie Price said.
Valero's agreement "resolves many of the lawsuits" filed against the oil refiner over its prior use of the gasoline additive, company spokesman Bill Day said in a brief statement to the AP.
He said the "settlement agreement is being reviewed by the court and is not yet final." He did not provide details of the agreement and declined to name other companies involved in the deal.
According to the Journal, the other defendants settling include BP PLC's BP America Inc., ConocoPhillips, Royal Dutch Shell PLC's Shell Oil Co., Marathon Oil Corp., Petroleos de Venezuela SA's Citgo Petroleum Corp. and Sunoco Inc.
Those companies were among those listed in the court document obtained by the AP. Messages left with the companies seeking comment were not immediately returned.
At least six companies declined to settle, the largest being ExxonMobil Corp., the Journal said.
Each company's contribution to the settlement was undisclosed, as was the potential cleanup cost. Past estimates have put the tab to remediate all tainted sites as high as $30 billion, the Journal reported.
- 1 Lenovo: Cancel Liu Xiangs TV Ad Unrelated with His Withdrawal
- 2 Dollar Weakens as Fannie and Freddie Problems Will Not Go Away
- 3 Hurdler Liu Xiang done without a run in Olympics
- 4 Golden boy Michael Phelps eager for his own bed
- 5 Top 10 islands in the Mediterranean
- 6 China shares fall; Shanghai Composite down 5.3 pct
- 7 Chinese hurdlers pullout a blow to advertisers
- 1 HK typhoon alert No.1 issued
- 2 HSBC reports 1H fall in profit 29 percent
- 3 Bryant scores 19, helps US beat Russia in tuneup
- 4 Actor Morgan Freeman is injured in car accident
- 5 Jolie-Pitt baby twins photos online
- 6 Christina Applegate treated for breast cancer
- 7 Paris Hilton's mom takes offense at McCain's humor
- 1 Top 10 islands in the Mediterranean
- 2 Need a break? Here's how to get more vacation time
- 3 Equestrian excitement expected to gallop in HK
- 4 Anti-Obama book seeks to repeat Kerry defeat
- 5 Left or right, Obama books are hot
- 6 US first lady Bush tours Beijing's Forbidden City
- 7 Babies born 8/8/08 at 8:08; 8 pounds, 8 ounces
|
|

















Air NZ raises airfare by 3%



