(Adds BP comment)
Jan 6 (Reuters) - Oil major BP PLC paid almost $24.4
million to the U.S. Treasury to cover allegations company
traders manipulated natural gas markets in 2008, but is still
challenging the fine in court, U.S. energy regulators said in a
filing.
The U.S. Federal Energy Regulatory Commission (FERC) alleged
BP violated the Natural Gas Act by manipulating the next-day gas
market at Houston Ship Channel from mid-September through Nov.
30, 2008.
FERC said in a filing late Tuesday that BP paid the fine on
Dec. 28 but noted the company said it intends to seek review in
the U.S. Court of Appeals for the Fifth Circuit.
"BP maintains that our natural gas traders did not engage in
market manipulation," said a spokesperson for BP, noting "We
will appeal this decision to the Fifth Circuit."
The case dates to actions taken by BP traders to take
advantage of market dislocations around the time Hurricane Ike
smashed into the Houston area in September 2008. FERC's Office
of Enforcement alleged BP traders made uneconomic physical gas
sales to suppress the Houston Ship Channel Gas Daily index and
boost the value of BP's financial position.
(Reporting by Scott DiSavino; Editing by David Gregorio and
Philippa Fletcher)