Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  BP plc    BP.   GB0007980591

BP PLC (BP.)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

U.S. Asks BP to Respond to Alleged Market Manipulation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/05/2013 | 05:55pm CET

WASHINGTON--U.S. regulators ordered BP PLC (BP, BP.LN) on Monday to respond to charges that it allegedly manipulated natural gas markets.

The order, issued by the Federal Energy Regulatory Commission, is the latest development in an inquiry dating back to at least 2011. The order directs BP to show why it should not pay a $28 million civil penalty and give up $800,000 in profits.

The energy commission claims London-based BP violated the Natural Gas Act by manipulating natural gas markets at Houston Ship Channel from September 2008 to November 2008.

BP spokesman Geoff Morrell said in a statement that the allegations "are without merit and we stand by what we previously disclosed...that BP natural gas traders did not engage in any market manipulation in late 2008."

Mr. Morrell said BP would "vigorously defend against these allegations."

If BP contests Monday's order, the energy commission can respond by issuing a civil penalty. The charges can move through a hearing process and could eventually end up in a federal court.

FERC has stepped its enforcement activity in recent years following passage of a new law that bolstered its powers. In July, FERC issued a $435 million civil penalty to Barclays PLC (BARC, BARC.LN) for alleged energy market manipulation--a charge Barclays has vowed to fight. More recently, FERC and JP Morgan Ventures Energy Corp. reached a $410 million settlement following charges of electricity market manipulation in California and the Midwest.

Write to Tennille Tracy at tennille.tracy@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BP PLC
03:23p BP : Total oil drilling would endanger newly discovered Amazon coral reef
03:05a CNPC buys stake in UAE oil concern
02/23 Top policymakers reassure Europe on Azeri gas deadline
02/23 Argentina picks winners in nine-cargo LNG supply tender - trade sources
02/23 Absheron gas field could be source for Southern Gas Corridor - Socar VP
02/23 Azeri minister says Southern Gas Corridor will cost no more than $40 billion
02/23 BP : Q4 2016 Scrip Dividend Reference Price
02/22 Norway's Aker BP estimates Snadd development cost at $1.2 billion
02/22 DIRECTOR DEALINGS : BP Non-Executive Director Buys 30,000 Shares
02/22 BP : C-M Law Appoints Steven W. Percy as First Leader-in-Residence
More news
Sector news : Oil & Gas Refining and Marketing - NEC
02:03pDJPHILLIPS 66 : Reports FCCU Maintenance at Borger Refinery
03:26a YPF, Shell sign deal for Vaca Muerta pilot project
01:15aDJBorder-Adjustment Tax Divides Energy Sector -- Update
02/23DJDow Extends Recent Streak of Gains
02/23DJBorder-Adjustment Tax Divides Energy Sector
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
02/22 Is Chevron's Dividend Worth Taking The Risk?
02/21 BP Accepts Reality
02/21 2 Undervalued U.K. Stocks... One With A 7.75% Dividend, Both Growing Earnings
02/20 BP's Long-Term Outlook Is Solid - Dividend Should Be Safe For Years
02/17 Take The Road Less Traveled
Advertisement
Financials ($)
Sales 2017 230 425 M
EBIT 2017 12 201 M
Net income 2017 7 434 M
Debt 2017 37 170 M
Yield 2017 7,01%
P/E ratio 2017 15,93
P/E ratio 2018 13,04
EV / Sales 2017 0,64x
EV / Sales 2018 0,58x
Capitalization 109 190 M
More Financials
Chart BP PLC
Duration : Period :
BP plc Technical Analysis Chart | BP. | GB0007980591 | 4-Traders
Full-screen chart
Technical analysis trends BP PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 6,45 $
Spread / Average Target 14%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Robert W. Dudley Group Chief Executive Officer & Executive Director
Carl-Henric Svanberg Chairman
Brian Gilvary Group Chief Financial Officer & Executive Director
Cynthia Blum Carroll Independent Non-Executive Director
Paul Milton Anderson Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BP PLC-12.15%109 190
EXXON MOBIL CORPORATIO..-10.34%339 117
ROYAL DUTCH SHELL A-5.06%217 440
CHINA PETROLEUM & CHEM..10.35%102 174
SAUDI BASIC INDUSTRIES..--.--%77 806
RELIANCE INDUSTRIES LI..11.95%57 558
More Results