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NEW REPORT CRITICIZES DEPARTMENT OF INTERIOR FOR UNDERCOLLECTING ROYALTIES FROM OIL AND GAS DRILLING

NEW REPORT CRITICIZES DEPARTMENT OF INTERIOR FOR UNDERCOLLECTING
 ROYALTIES FROM OIL AND GAS DRILLING
 An investigative report by the House Interior Committee finds that despite some improvement, mismanagement by an Interior Department agency continues to deny the federal government, states and Indian tribes million of dollars in uncollected royalties from oil and gas companies drilling on federal lands.
 The report faults the Minerals Management Service, the Interior agency responsible for managing royalties owed by oil and gas companies that operate on federal land, for failing to ensure collection of all royalties owed the government. Royalties are shared with the states and Indian tribes. One of the key problems, the report finds, is an inadequate computer system that has failed to monitor royalties accurately. Mineral royalties constitute the second largest source of revenue to the federal treasury. The report will be available Wednesday, Feb. 19, at 9:45 a.m. following a formal vote of approval by the full Committee on Interior and Insular Affairs, chaired by Rep. George Miller (D-Calif).
 DATE: Wednesday, Feb. 19, 9:45 a.m.
 LOCATION: 1324 Longworth Office Building, New Jersey and
 Independence avenues, N.E., Washington
 CONTACT: Daniel Weiss of the Committee on Interior & Insular Affairs, 202-225-2095.
 -0- 2/18/92


CO: House Committee on Interior & Insular Affairs ST: District of Columbia IN: OIL SU: EXE

MK-SB -- DC026 -- 0069 02/18/92 15:21 EST
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Publication:PR Newswire
Date:Feb 18, 1992
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