I think you have the wrong thread. This is not about BP.
posted on 01/08/2013 9:02:55 AM PST
(life is fragile, handle with prayer)
BP apparently has a large unit marketing and shipping their own NGLs and trading same.
posted on 01/08/2013 9:08:55 AM PST
"On Jan. 8, the government alleges, Mark Radley, manager of the Houston-based natural-gas liquids, or NGL, trading team, told other BP traders the market was "vulnerable to a squeeze," according to taped phone records. BP declined to discuss specific disciplinary action, but in an attachment to the CFTC complaint, regulators said Mr. Radley was fired by BP in connection with the trade. His attorney didn't return a phone call and email message seeking comment.
On Feb. 5, Mr. Radley discussed the benefits of the deal with a lieutenant on the trading floor, Dennis Abbott, according to the complaint. "What we stand to gain, is not just we'd make money out of it, but we would know from thereafter that we can control the market at will," he said, according to phone recordings.
In a criminal plea filed by the Department of Justice, Mr. Abbott admitted to participating in the alleged market manipulation and is cooperating in the criminal probe. His attorney declined to comment in an email."
From a few years ago.
posted on 01/08/2013 9:25:09 AM PST
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