April 3, 2014 / 7:40 PM / 4 years ago

Anadarko payment will cover environmental costs -U.S. official

WASHINGTON, April 3 (Reuters) - Anadarko Petroleum Corp’s $5.15 billion settlement with the U.S. government will more than cover the past environmental damage caused by its Kerr-McGee unit, U.S. Deputy Attorney General James Cole said on Thursday.

At a news conference, Cole, the No. 2 Justice Department official, said that the amount of the settlement was in line with a bankruptcy court ruling about liability.

“It provides us with recovery now, as opposed to years and years down the road,” Cole said.

Reporting by David Ingram

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