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BP pays pounds 1.5m.

BRITISH energy giant BP has agreed to pay more than pounds 1.5 million to the New York Mercantile Exchange to settle charges of improper crude oil trading activity.

BP did not admit any wrongdoing in the settlement, said Nymex spokeswoman Nachamah Jacobovits.

Nymex had charged the company with ten separate counts, including engaging in round-trip trading, and in conduct that was detrimental to the exchange.

"We have put the matter behind us and look forward to strengthening our relationship with Nymex," said Scott Dean a BP spokesman.
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Title Annotation:Business
Publication:Coventry Evening Telegraph (England)
Geographic Code:1USA
Date:Sep 17, 2003
Words:88
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