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ConocoPhillips reveals it has been subpoenaed in CFTC oil price fixing probe: What about Shell, the leader in illegal cartels?

Reuters UK

ConocoPhillips says subpoenaed in CFTC probe

Tue Jun 3, 2008 6:55am BST

 

NEW YORK (Reuters) – ConocoPhillips (COP.N: QuoteProfileResearch) said on Monday it was subpoenaed last December by the Commodity Futures Trading Commission as part of the agency’s six-month investigation into manipulation of the oil market.

“ConocoPhillips has been and will be fully cooperating with the CFTC and any other governmental agency involved in this probe,” said company spokesman Bill Graham.

Speaking to the Reuters Global Energy Summit earlier on Monday, Jim Gallogly, executive vice president of ConocoPhillips’ downstream activities, said he was unaware if the CFTC was looking at the company as part of its broad investigation.

But Graham clarified later that ConocoPhillips was subpoenaed by the CFTC last December 3.

(For summit blog: summitnotebook.reuters.com/)

(Reporting by Tom Doggett, editing by Phil Berlowitz)

 

 

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