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Market Chatter: Chevron, Exxon Win Supreme Court Review in Louisiana Coastal Cases
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Market Chatter: Chevron, Exxon Win Supreme Court Review in Louisiana Coastal Cases
Jun 16, 2025 9:57 AM

12:43 PM EDT, 06/16/2025 (MT Newswires) -- Chevron ( CVX ) , Exxon Mobil ( XOM ) and other oil companies won a US Supreme Court review in their bid to move lawsuits accusing them of harming Louisiana's coast to federal court, Reuters reported Monday.

A lower court had rejected the companies' request to transfer the cases to federal jurisdiction, according to the report.

Six Louisiana parishes, starting in 2013, filed 42 lawsuits accusing the oil and gas companies of violating a state coastal resources act passed in 1978, the report said.

"Chevron ( CVX ) is pleased that the Supreme Court has decided to grant review in these cases, and we look forward to presenting our arguments to the court," Paul Clement, a lawyer for Chevron ( CVX ), said in an emailed statement to MT Newswires.

Exxon didn't immediately respond to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 144.77, Change: -1.14, Percent Change: -0.78

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