July 19, 2003 |
Federal energy regulators approved a settlement Friday with BP Energy Co. of charges that the subsidiary of London-based oil giant BP manipulated Southwestern electricity prices through bogus trades. Under the agreement with the Federal Energy Regulatory Commission, Houston-based BP Energy will contribute $3 million to low-income energy assistance programs in California and Arizona. BP was allowed to keep its power trading authority, which FERC had threatened to strip away.
April 17, 2003 |
BP has fired an electricity trader accused last month of conspiring with a counterpart at Reliant Resources Inc. to conduct phony trades in the Western U.S. power markets. Conversations between the two traders were "inappropriate and disappointing and are embarrassing to the company," BP said in a filing to the Federal Energy Regulatory Commission. FERC accused the trader of using "wash" trades to manipulate prices.
May 2, 2007 |
Occidental Petroleum Corp. and London-based BP will swap oil and natural-gas assets in the Permian Basin and the Gulf of Mexico. Occidental will get BP assets that include the Seminole San Andres unit and Sheep Mountain as well as numerous interests in the Cowden area that are adjacent to and complement its assets in the Permian Basin of West Texas and New Mexico, the Westwood-based company said. BP will receive Occidental's one-third interest in the Horn Mountain property in the Gulf of Mexico.
CALIFORNIA | LOCAL
May 17, 2007 |
A consumer advocacy group urged the UC Board of Regents on Wednesday to ensure that BP does not benefit inappropriately from its $500-million research grant to UC Berkeley by obtaining exclusive rights to scientific discoveries. The Santa Monica-based Foundation for Taxpayer and Consumer Rights also called on the regents to prohibit the British oil company from conducting secret research at the public university and from using UC's name in marketing campaigns without the regents' approval.
August 9, 2000 |
Greenpeace activists occupied an unmanned oil company vessel in the Arctic Ocean for a second day Tuesday in a protest against the company's offshore oil development in Alaska. The environmental group said five activists were on a vessel holding a BP Amoco control center and staff living quarters being towed to a construction site for the Northstar oil project in Prudhoe Bay, the site of Alaska's largest oil field.
CALIFORNIA | LOCAL
February 2, 2007 |
Oil giant BP will give $500 million to a partnership led by UC Berkeley to develop new biofuels and reduce environmental harm caused by the use of fossil fuels, Gov. Arnold Schwarzenegger and company officials announced Thursday. UC Berkeley will team up with the University of Illinois at Urbana-Champaign and the Lawrence Berkeley National Laboratory to develop fuel from plants, improve the extraction of oil from existing reserves and find ways to keep carbon from entering the atmosphere.
August 11, 2006 |
Oil giant BP expects the replacement of corroded pipelines at the Prudhoe Bay oil field in Alaska to cost about $100 million, a company source said Thursday, but the total cost to BP will probably be several times that figure. The expected cost includes $20 million to $30 million for a steel pipeline, the source said, well above the $15 million that one steel analyst estimated Wednesday. The BP source said the higher-than-predicted cost was because the company was "a distressed buyer."
July 19, 2006 |
BP and General Electric Co. said Tuesday they had agreed to develop fossil-fuel-fed power plants in California and Scotland that bury carbon dioxide underground to reduce emissions. The two companies said they might form a venture to build as many as 15 power plants in the next decade, including those previously announced in Carson in Los Angeles County and Peterhead, Scotland. BP, based in London, and GE, based in Fairfield, Conn.
August 30, 2006 |
Oil giant BP is being investigated for possible manipulation of crude oil and gasoline prices, the company confirmed Tuesday, raising concern that the company has failed to manage its U.S. operations. BP's trading of crude is being reviewed by the U.S. Commodity Futures Trading Commission, while the Justice Department is probing the company's gasoline business, BP spokesman Robert Wine said.
November 2, 2006 |
Oil company BP said Wednesday that it was replacing the head of its Alaskan unit after inadequate maintenance led to leaky pipelines, partial shutdown of the largest U.S. oil field and an investor lawsuit. Doug Suttles, president of London-based BP's operations on the Russian island of Sakhalin, will become president of BP Exploration (Alaska) Inc. on Jan. 1, taking over from Steve Marshall, company spokesman Daren Beaudo said in a telephone interview.