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March 7, 2014
07:24 EDTBPBP: Asian regulators also probe possible oil price manipulation, WSJ reports
BP says regulators in Asia joined European and U.S. agencies who are investigating potential manipulation of oil prices, reports the wall Street Journal. In its annual report, BP reported that in June 2013, the Japanese Fair Trade Commission sent an "initial request for information" from BP, and that the Korea Fair Trade Commission "initiated an investigation" in December. In January of this year, BP said, the U.S. Commodity Futures Trading Commission had requested documents.Reference Link
News For BP From The Last 14 Days
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December 1, 2015
06:24 EDTBPBrazil suing BHP, Vale for $5.2B to clean up mining disaster, Reuters says
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November 17, 2015
10:16 EDTBPBP confirms exploring sale of Alabama petrochemical facility
BP confirmed that it has decided to market for sale its Decatur, Alabama, petrochemicals complex as part of a broader reorganization of the company's global petrochemicals business. BP said its refocused petrochemicals strategy is pursuing a competitively advantaged portfolio through world-scale, low-cost facilities that utilize BP proprietary technology including the production of purified terephthalic acid, or PTA, a key raw material in the production of polyester. BP is spending $200M to upgrade its Cooper River, S.C., plant and its sister facility in Geel, Belgium - the largest PTA-producing sites in the Americas and Europe, respectively. The investment will enable the two facilities to lower operating costs, improve reliability and reduce emissions. Earlier this year, BP also started up its new Zhuhai 3 unit in Guangdong Province, China. Using BP's latest technology and capable of producing up to 1.25M tons of PTA per year, Zhuhai 3 is the world's largest single-train PTA production unit as well as being one of the largest and most efficient PTA production units in the world. While BP's Decatur complex no longer fits with this strategy, the facility has been a major contributor to BP's U.S. petrochemicals business for many years. It makes chemicals essential for the production of thousands of items, from plastic water bottles to flat-screen televisions. BP expects to complete a sale of all or part of the facility provided a buyer can be found and an acceptable deal can be reached. Reference Link
09:48 EDTBPBP to explore sale of Alabama petrochemical plant, Bloomberg reports
Bloomberg cites e-mailed statement from BP.

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