BP rebuked for pipeline failings
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The US Congress hears that BP's failure to maintain oil pipelines at the largest US oil field was "unacceptable".
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LONDON - BP PLC agreed to pay $373 million to resolve charges related to a fatal refinery explosion, market manipulation, and an oil pipeline leak, as Europe's second-largest oil company tries to recover from lapses that dented its share price and image.
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BP avoids battering as poor results are better than Hayward's bleak warning suggests and market looks beyond 2007.
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Federal investigators are examining  whether BP Plc  manipulated crude oil and unleaded  gasoline markets, according to a report in The Wall Street  Journal on Tuesday that cited lawyers and traders close to the  case.
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A complete shutdown of BP Plc.'s   giant Prudhoe Bay field may not be necessary, and global  crude supplies look sufficient to hold U.S. refiners over while  BP fixes a leaky pipeline, U.S. Energy Secretary Sam Bodman  said on Tuesday.
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Oil giant BP admits a review into a fatal 2005 blast at a US refinery found shortcomings among some managers.
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BP  said on Wednesday  production at its Prudhoe Bay oil field in Alaska, the largest  in the United States, fell to 110,000 barrels per day (bpd) due  to a technical fault. A company spokesman said the reduced  output would last for several days. Production had previously  been about 200,000 bpd, around half the field's normal output.
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BP Plc BP.L this week will conduct   safety tests and seek government permission to restart part of   the eastern Prudhoe Bay oil field pipeline in Alaska that was   shut due to corrosion, the company told Congress on Tuesday.
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Oil company BP has indefinitely shut down the nation's biggest oilfield after finding a pipeline leak, removing about 8 percent of U.S. oil production and stoking fears that already high gas prices will shoot up further.
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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 BP.L told U.S. lawmakers on   Thursday that it could restart its giant oil field in Alaska by   the end of October after rusty pipelines forced part of the   field shut last month, though a former senior BP manager in   Alaska refused to testify about the pipeline corrosion.
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BP Plc  said on Tuesday it was working toward settling outstanding safety and health violations at two of its Midwestern refineries.
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British energy company BP reported weak crude production in the third quarter following the partial shutdown of Prudhoe Bay -- the largest oil field in the United States.
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A BP executive criticises the firm's management style, leaked remarks from the firm's intranet reveal .
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BP Plc  has submitted a  revised plan for preventing and responding to spills at the  Prudhoe Bay oil field following pipeline corrosion problems and  oil spills earlier this year, a state official said on Monday.
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BP PLC is facing a growing federal investigation into possible criminal environmental and safety violations at its Texas refinery where a 2005 explosion killed 15 workers, lawyers suing the firm said.
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Investigators in the U.S. Congress  have found "significant problems" with the way BP Plc.  maintained its Prudhoe Bay facility in Alaska, sources close to  the inquiry said, setting the stage for a heated hearing on  Thursday into corrosion that threatened to shut down the  biggest U.S. oil field.