| Log In | Register New User |
|
|
| Home | Company Search | Related Articles | Forum (new!) |
| Company | BP Amoco [Company Info] |
| Track this Company (an email will be sent to you everytime a report is filed about this company) |
| Date | Issue | Title |
| 6th Sep 2006 | Other Issue | BP facing US oil prices lawsuit |
| Report |
| BP is facing a fresh lawsuit in the US, alleging it manipulated oil prices by limiting access to important storage facilities in 2003 and 2004. Oil futures trader Richard Hershey claimed he suffered financial damage as a result of BP's alleged action, which he said artificially affected prices. BP said it had not seen the lawsuit and therefore could not comment. The oil giant is already facing a lawsuit stemming from problems at its Prudhoe Bay oil field in Alaska. In a further separate legal action, BP has been accused of manipulating propane prices in the US in 2004. The latest lawsuit, lodged with a Federal Court in New York, claims that BP either owned or controlled 30% of storage facilities at the Cushing petroleum facility in Oklahoma. "BP abused its dominant market position by not making available space at its crude oil storage facilities in Cushing to market participants who were obligated to deliver crude oil at Cushing," the lawsuit alleges. This resulted in the price of future crude oil contracts trading at "prices higher or lower than otherwise would have prevailed". |
| Other Reports on BP Amoco | |||
| Date | Issue | Company | Report |
| 22nd Jul 2007 | Other Issue | BP Amoco | BP faces fines after Texas blast |
| 20th Mar 2007 | Questionable Practice | BP Amoco | BP blamed for Texas blast |
| 8th Jun 2006 | Other Issue | BP Amoco | BP faces Alaska oil spill probe |
| 27th Mar 2006 | Other Issue | BP Amoco | Venezuela hits BP with tax bill |
| 12th Dec 2005 | Criminal Investigation | BP Amoco | BP could face US criminal charges |
| 15th Dec 2003 | Other Issue | BP Amoco | Alaska well explosion may cost BP $2.5 mln fine |
| 26th Jun 2003 | Other Issue | BP Amoco | BP closes deal with Russia |
| Related Reports from the Petrochemical Industry | ||
| Company | Issue | Report |
| Halliburton | Fraud Investigation | Halliburton settles accounts case |
| Halliburton | Other Issue | Halliburton worker admits bribes |
| Halliburton | Other Issue | Halliburton faces 'payment cut' |
| China Aviation Oil | Fraud Investigation | China Aviation boss pleads guilty |
| Halliburton | Questionable Practice | Halliburton Iran deals under fire |
| Contact Us | Terms of Service | Privacy Policy | Add Report | Links |
| © 2006 Corp-Ethics.com | Corporate Ethics |