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FERC seeks BP fine of $28 mln for natgas market manipulation

Mon, 05th Aug 2013 12:45

Aug 5 (Reuters) - U.S. federal energy regulators on Mondayordered BP Plc to show cause why a unit of the Britishoil company should not be found to have manipulated the naturalgas market and to pay a fine of $28 million and disgorge$800,000 plus interest.

The Federal Energy Regulatory Commission's (FERC) Office ofEnforcement alleged BP manipulated the next-day, fixed-price gasmarket at Houston Ship Channel from mid-September 2008 throughNovember of that year.

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