BP fined $5.2 million for misreporting
BP fined $5.2 million for misreporting

Troubled oil company, British Petroleum (BP) has got another shocker. The Obama administration has imposed a fine of $5.2 million on the company for misreporting about the amount energy production that takes place on an Indian reserved area in Colorado. As per the Interior Department, BP had given false reports about the royalty rates that it charges for natural gas in the Southern Ute.

This is an area reserved for the Indian tribes. While the case against the British oil major is not of taking more gas than it reports, it is about paying erroneous royalty rates for the gas that it uses. The errors, said a source from the Interior Department to the tune of $200,000. No comment was given by the tribal leaders.

However, there is some good news for the company as well. The chemical that it is using to clear the oil spill areas has been approved and it is said that they are not more toxic than other materials. This must come as a relief for the company that it facing so much of trouble in recent months.

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