BP Looks To Sink FERC's $29M Market Manipulation Fine

Law360, New York (October 9, 2013, 2:01 PM EDT) -- BP PLC on Friday urged the Federal Energy Regulatory Commission to dismiss allegations that it manipulated the natural gas market in Texas in 2008 as well as a proposed $29 million penalty, calling the claims skewed, unreliable and irrelevant.

In August, the FERC slapped the energy giant with a show cause order after its enforcement staff accused BP of manipulating the next-day, fixed-price gas market at the Houston Ship Channel — part of the Port of Houston — from September to November 2008 in order to...
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