An oil industry-led lawsuit against Securities and Exchange Commission policies that would require oil, natural gas and mining firms to report payments made to foreign governments was dismissed by the U.S. Court of Appeals for the District of Columbia Circuit, saying a federal district court should hear the case. The substance of the case wasn't addressed by the decision, the American Petroleum Institute said. "The court simply concluded that it does not have jurisdiction to decide the case at this time. We will continue to explore every avenue as our challenge moves forward in the District Court for the District of Columbia," said Brian Straessle, a spokesman for API.

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