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Anadarko resolves Algeria tax dispute, nets $4.4B
Written on:March 10, 2012
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Anadarko Petroleum Corp. (APC), the largest independent U.S. oil and natural-gas producer by market value, rose after announcing an Algerian tax settlement that will increase revenue by $1.8 billion in the first year. Anadarko climbed 1.9 percent to $85.25 at the close in New York. The company values the settlement at $4.4 billion, including revisions to its production-sharing agreement and tax liability, spokesman John Christiansen said in a telephone interview…
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