Federal Contractor Misconduct Database (FCMD)
Colluding to Fix Commissions Paid on North Sea Oil Contracts
The U.S. Department of Justice reached a settlement with oil trading firms AIG Trading Corporation, BP Exploration & Oil Inc. and Cargill International S.A. that prohibited the companies from exchanging broker commission information involving contracts for Brent blend crude oil, a crude oil produced in the North Sea. The government accused the companies of colluding from July 1992 through May 1993 to lower the commissions they paid to brokers in the U.S. for these contracts.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Settlement Announcement