WorldOil Guilty plea on five counts in UK's Iraqi bribes case A former oil executive pleaded guilty to five counts of corruption in the U.K. as part of one of the white-collar financial crime prosecutor’s biggest bribery investigations. EIA: Summer natural gas prices on track to be the lowest since 1998 EIA forecasts Henry Hub natural gas spot prices for June, July, and August this year will average $2.37 per MMBtu. Baker Hughes sells reciprocating compression business to private equity fund Arcline Investment Management signed a definitive agreement to acquire the reciprocating compression division of Baker Hughes, a GE company. EIA: Iran drove unplanned OPEC production outage to highest levels since 2015 EIA says unplanned crude oil production outages for OPEC averaged 2.5 MMbpd in the first half of 2019, the highest six-month average since the end of 2015. ExxonMobil commits to joint development of open automation processes The goal of this collaboration is the creation of a standards-based, open, interoperable, and secure automation architecture that addresses both the technical and commercial challenges of current systems. Iran confirms it seized fuel tanker in the Persian Gulf Oil extended gains after Iran confirmed it had seized an oil tanker in the Persian Gulf earlier this week. Vanguard emerges from Chapter 11 bankruptcy as Grizzly Energy Vanguard Natural Resources successfully completed financial restructuring, emerging bankruptcy as a new limited liability company. MAN Energy Solutions awarded subsea compression FEED order MAN Energy was awarded a FEED contract for the Chevron-operated Jansz-Io field in Western Australia. Permian watch: America’s hottest shale play is slowing down The engine of America’s shale boom is beginning to sputter. Canadian heavy crude surges as rail shipments increase Heavy Canadian crude prices narrowed to the smallest discount against U.S. benchmark futures since April as rail shipments increase.