BP confirms US probe into crude, gasoline price manipulation
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British energy major BP has confirmed that it was facing a US investigation over whether the group had manipulated crude oil and motor fuel markets.
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BP said regulators were considering civil charges against it for trading activities in the gasoline futures market four years ago.
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Oil major BP  on Thursday  agreed to pay $373 million to settle U.S. charges stemming from  a deadly Texas refinery explosion, an Alaska oil spill and  allegations it manipulated the propane market.
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Scientists planned to examine oil samples and the Coast Guard issued subpoenas in an investigation into who caused at least 1,000 gallons of oil to spill in Puget Sound, officials said.
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CRUDE oil futures fell yesterday after the American government reported a slight increase in the US inventory of crude. The supply of distillate fuel, which includes heating oil, also increased, following
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A US government advisory panel is to recommend a revision to the minimum level of crude inventories required to ensure adequate supplies of crude oil to the nation&#39;s refiners to produce gasoline
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US oil prices have surged above $48 per barrel as production and shipping disruptions caused by Hurricane Ivan cause domestic supplies to shrink more than expected.
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Oil giant BP Plc has denied misleading a  U.S. environmental regulator about having installed safety  equipment at its Texas City refinery that investigators believe  would have reduced the likelihood of a fatal explosion last  year.
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The U.S. government on Thursday said  BP Plc  could continue to pump oil from the western half  of its giant Prudhoe Bay field in Alaska, although the oil  major reiterated it would decide only next week whether to do  so.
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BP BP.L was working to clean up a   thousand barrels of gas oil that spilled from a pipeline at the   Port of Long Beach, near Los Angeles, according to local media   reports.
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Oil giant BP is planning to review its global operations in response to last year's Texas refinery blast, a report says.
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The State Department yesterday endorsed a Senate investigation into possible fraud in the United Nations oil-for-food program while sidestepping a senator&#39;s
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New York - Oil prices rose sharply Wednesday following the release of a US government report that said crude supplies fell by more than expected last week due to disruptions caused by Hurricane Ivan.
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British energy giant BP said that it planned to invest 3.0 billion dollars (2.36 billion euros) in its refinery in the US state of Indiana, in a move aimed at boosting motor fuel output.
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Some top executives at British oil company BP  are worried that cost cutting at a Texas refinery might have contributed to the plant's poor state of safety and equipment, according to an internal BP review, The Wall Street Journal reported on its Web site on Tuesday.
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US regulators said yesterday that they had concluded their investigation of Royal Dutch/Shell Group in connection with the company&#39;s overstatement of its oil and gas reserves and now will target officials responsible for the problem.
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The U.S. Chemical Safety Board said on Thursday it was sending investigators to probe the latest death at BP Plc.'s giant Texas refinery.