BP, Shell, Statoil Said to Face FTC Scrutiny in U.S. Oil Probe
This article is for subscribers only.
BP Plc, Royal Dutch Shell Plc and Statoil ASA are under scrutiny by the U.S. Federal Trade Commission as the agency probes whether they manipulated oil benchmarks published by Platts, according to a person familiar with the matter.
The FTC’s early-stage investigation into oil prices mirrors a review by the European Union, which raided the offices of the three companies and Platts in May, two people familiar with the probe said last month. Platts, the energy-news and data provider owned by McGraw Hill Financial Inc., publishes the Dated Brent benchmark that contributes to setting the price of more than half the world’s oil.