Topics

BP Plc
Lawsuit accuses BP of overcharging California agencies for natural gas
Lawsuit accuses BP of overcharging California agencies for natural gas

British energy giant BP, which supplies natural gas to California state agencies under a $250-million annual contract, overcharged the state by as much as $300 million over eight years, a lawsuit contends. The oil company failed to buy gas for the state at competitive prices, the whistle-blower suit says, and then knowingly sold it at inflated prices. "BP's management manipulated its profit margin to exceed any reasonable amount of profit and greatly exceeded these contractual caps," according to the complaint. "The amount of overcharging to plaintiffs on special purchases was rarely less than three times greater than allowed under the contract and was often five to...

Loading