"The case comes after the US authorities took away three out of five of Exxon's leases for the Julia field, which is thought to contain billions of barrels of oil.
The leases expired and the US Interior Department said Exxon had not met the requirements for an extension. It concluded that Exxon "lacked commitment" to developing the field, after the company tried to request a suspension of production in October 2008.
Exxon – the world's largest company – argued that federal law allows suspensions in order to ensure a development advances in a safe manner"................READ MORE
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