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A trader for Golden, CO-based Enserco Energy has pleaded guilty to one count of wire fraud in connection with the reporting of false natural gas price and volume information to manipulate a price index published by Platts' Gas Daily.
The Oregon Public Utility Commission (PUC) last Tuesday approved the pending $475 million sale of Cascade Natural Gas to North Dakota-based MDU Resources Group Inc., following stipulations and a settlement filed with the PUC last month by MDU. Seattle-based Cascade serves retail natural gas customers in Oregon and Washington state, with its 54,633 Oregon customers concentrated in the central region including the towns of Pendleton, Hermiston and Ontario.
Despite a major snowstorm that slammed the Plains and the Midwest Friday and was bearing down on the East, a number of natural gas futures traders took profits following a week of trading higher. January natural gas futures on Friday put in a low of $8.350 before closing at $8.422, down 42.2 cents on the day but 32.3 cents higher than the previous week's close on Wednesday (Nov. 22).
The final rules under the Dodd-Frank Act to be issued in the near future would make clear that only parties that "make markets for others on a routine basis," would be subject to rules governing swap dealers, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler told a congressional committee last Wednesday.
After its Main Pass Energy Hub (MPEH) proposed offshore liquefied natural gas project was denied by Louisiana Gov. Kathleen Blanco early last month, McMoRan Exploration Co. said Thursday it has amended its license application in order to obtain approval.