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-0.13

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BRENT 59.2

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AI-92 42.28

0

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Diesel 46.26

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33

Exxon Asks to Revise its Fine

The company says the punitive award was improperly calculated

U.S. oil giant ExxonMobil Corp has asked the U.S Supreme Court to review a US$2.5 billion fine against the oil company for the 1989 Valdez disaster, the nation's worst tanker spill.

The company says the punitive award was improperly calculated and an unacceptably high multiple of actual compensatory damages.

ExxonMobil has argued punitive damages should be no more than US$25 million, based on actual compensation given to commercial fishermen for the loss of their harvests.

Plaintiffs include more than 30,000 fishermen, Alaska natives, property owners and others who filed individual claims against Exxon that were consolidated into a class-action case.