BP has been fined $7 million by the
FERC's penalty comes on top of $373 million in fines and restitution BP agreed to pay other US regulators for a deadly explosion at its Texas City oil refinery, oil spills on its Alaska pipeline and manipulation of the US propane market. In the FERC case, the violations involved thousands of individual transactions in 2005 and 2006 related to BP's management of customers' rights to ship and store natural gas. In addition to the penalty, BP will implement a compliance monitoring plan for at least one year under FERC supervision.
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