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ConocoPhillips Subpoenaed By CFTC In Oil Probe

Law360 (June 3, 2008, 12:00 AM EDT) -- Oil giant ConocoPhillips Co. revealed on Monday that it was subpoenaed in December by the U.S. Commodity Futures Trading Commission as part of the agency's ongoing investigation into possible price manipulation in the crude oil market.

At a Global Energy Summit hosted by Reuters, ConocoPhillips Executive Vice President for Downstream Activities Jim Gallogly said that ConocoPhillips had been subpoenaed by the CFTC on Dec. 3, 2007.

However, he contended that he was unaware of whether the CFTC was investigating the company itself as part of the...
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