Federal Energy Regulatory Commission (FERC) and Commodity Futures Trading Commission (CFTC) had notified BP of the action in November last year, and are currently "investigating certain practices relating to crude oil pipeline nominations procedures on Canadian pipelines," the company said. "We have responded to CFTC's allegations and challenged their jurisdiction over the alleged conduct," BP said in response to a query from Reuters. Friction between U.S. commodity regulators and BP is not out of the ordinary.
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