Two gas traders were sentenced to prison yesterday for reporting false gas trading data to industry publications in order to control gas markets. Michelle Valencia, a former Dynegy trader, faces a 57-month sentence on seven counts of wire fraud. Greg Singleton, formerly with El Paso Corp., received a 28-month sentence on a single count. Valencia and Singleton were charged with violating the Commodity Exchange Act by trying to influence gas markets through false price reporting to Platts' Inside FERC's Gas Market Report and Natural Gas Intelligence. The data is used in indexes used to calculate the value of gas transactions. Meanwhile, a Russian court today rejected jailed oil tycoon Mikhail Khodorkovsky's request for early release from an eight-year sentence for tax evasion and fraud. Khodorkovsky, who headed the Yukos oil company and was once Russia's richest man, has spent almost five years in jail. He was sentenced in 2005 to an eight-year term and has been eligible for parole for the past 10 months. Khodorkovsky was ineligible for parole because he had refused to undertake professional training at his prison, which specializes in sewing.
2023-11-06 - From another postponement of the Gulf of Mexico’s Lease Sale 261 to new contract awards, below is a compilation of the latest headlines in the E&P space.
2023-10-30 - Here’s a roundup of the latest E&P headlines, including the gas export concept solution for Goliat and subsea equipment delivered for Shenzi North.
2023-11-21 - As the oilfield service market faces headwinds from consolidation and a dwindling rig count, ProPetro CEO Sam Sledge sees Permian Basin demand picking up for next-generation equipment.
2023-10-02 - Here’s a roundup of the latest E&P headlines, including the go-ahead for a North Sea subsea field to begin production and new contract awards and technology launches.
2023-10-09 - Here’s a roundup of the latest E&P headlines, including go-ahead for production at Tommeliten A and decommissioning at Dunlin Alpha, along with new contract awards.