Theft Ring Targeted Texas Deepwater Oil-Drilling Tech
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A man was convicted in federal court of conspiracy to steal deepwater trade secrets, highlighting the fierce competition between the world’s economic superpowers for oil-drilling supremacy.
Shan Shi, 54, faces sentencing for conspiracy to commit theft of trade secrets on Oct. 25, the U.S. Justice Department said in a statement on Tuesday. Shi led a ring of at least four other people that targeted syntactic foam, a key material for deepwater oil drillers that also has military and commercial uses, according to the statement.