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Federal Contractor Misconduct Database (FCMD)
The federal government routinely awards contracts to companies with
histories of misconduct, including
…
contract fraud and other
violations. POGO believes that providing this website will help to
improve contracting decisions and increase public knowledge of how
the government spends billions of taxpayer dollars each year.
Read more…
Natural Gas Market Manipulation
The Federal Energy Regulatory Commission (FERC) ordered four BP subsidiaries to show cause why they should not be fined $28 million and forced to disgorge $800,000 in profits for allegedly trying to manipulate the Houston Ship Channel natural gas market from mid-September 2008 through November 30, 2008. FERC alleged three BP traders tried to increase the value of its gas contracts by manipulating the price of natural gas through false trades. In July 2016, FERC issued an order affirming an administrative law judge’s decision finding that BP America and certain affiliated entities violated FERC’s prohibition on market manipulation. FERC ordered BP to pay a civil penalty of $20,160,000 and to disgorge $207,169 in unjust profits as a consequence of its violation.
- Misconduct Type
- Antitrust
- Enforcement Agency
- FERC
- Contracting Party
- None
- Court Type
- Administrative
- Disposition
- Judgment Against Defendant
- Date of Show Cause Order
- 8/5/2013
| Contractors Involved |
Penalty |
| Total |
|
| BP P.L.C. |
$20,367,169
|
