Reuters: Regulatory News: FERC seeks BP fine of $28 mln for natgas market manipulation

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FERC seeks BP fine of $28 mln for natgas market manipulation Aug 5th 2013, 12:45 Mon Aug 5, 2013 8:45am EDT Aug 5 (Reuters) - U.S. federal energy regulators on Monday ordered BP Plc to show cause why a unit of the British oil company should not be found to have manipulated the natural gas market and to pay a fine of $28 million and disgorge $800,000 plus interest. The Federal Energy Regulatory Commission's (FERC) Office of Enforcement alleged BP manipulated the next-day, fixed-price gas market at Houston Ship Channel from mid-September 2008 through November of that year.

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