Petroliam Nasional Bhd., Malaysia ’s state energy company, remains committed to using Brent as a benchmark for buying and selling oil even amid accusations of price fixing, its chief executive said. “I don’t see any manipulation,” Chief Executive Officer Shamsul Azhar Abbas told reporters in Kuala Lumpur today. “Brent is still the most acceptable benchmark.” Four energy traders claimed in a lawsuit last month that some of the world’s biggest oil companies including BP Plc, Statoil ASA and Royal Dutch Shell Plc conspired with Morgan Stanley and energy traders such as Vitol Group to fix spot prices for Brent for more than a decade. The North Sea oil price as assessed by Platts, a unit of New York-based McGraw Hill Financial Inc., is used to price more than half the world’s crude including Australia ’s Cossack, Malaysia’s Tapis and Castilla in Colombia . The case is one of at […]