BP: Big problems for oil giant

BP’s reputation as one of Britain’s biggest corporate success stories took a fresh battering yesterday after the oil giant confirmed that it is being investigated in the US for possible manipulation of the crude oil and petrol markets.

The latest inquiries follow hard on the heels of US grand jury investigations into oil spills in Alaska and last year’s Texas City refinery explosion, in which 15 workers died, and a separate inquiry by the US authorities into claims that BP attempted to rig the propane market.

independent