ENERGY

British Petroleum to Pay $1.4 Billion to Alaska: The payment by British Petroleum’s Alaska unit will resolve state tax disputes that date back to the time when oil began flowing through the trans-Alaska pipeline, Alaska Gov. Walter Hickel said. The settlement, coming after years of negotiations, is the largest Alaska tax deal ever, Hickel said at a news conference. Paul Laird, spokesman for BP’s Alaska unit, said the payments will not have a material effect on the company’s financial results or operations.