SubscribeAll Posts Tagged With: "natural gas"
Natural Gas Drilling Shutting Down Due to Low Prices
Natural gas drillers from Devon Energy Corp. to XTO Energy Inc. are idling rigs at the fastest pace since 2002, setting the stage for this year’s worst commodity to almost double as supplies drop faster than demand.
About 45 percent of U.S. rigs have been shut since September, which means fourth-quarter gas production will tumble 5.2 percent, faster than the 1.9 percent decline in use, the Energy Department forecast. Prices will rise to $7 per million British thermal units by January from $3.824 today on the New York Mercantile Exchange, according to a Bloomberg News survey of 20 analysts. The…
17Mar2009 | The Real Deal | 0 comments | ContinuedGas Supplies Drop Across Europe as Russia-Ukraine Dispute Drags On
Supplies of natural gas have fallen sharply across Europe and are now approaching crisis levels, as the standoff between Russia and Ukraine continues to drag on.
Austria, Bulgaria, Croatia, Germany, Greece, Italy, Macedonia, Poland, Romania, Slovakia, Turkey and the Czech Republic all have said that gas shipments coming through Ukraine had stopped or fallen sharply.
Story continues below…
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Italy, Greece, and the Balkans have been among the hardest hit by the ongoing dispute.
As of yesterday (Tuesday) Russian gas deliveries to Italy had fallen by 80%…
7Jan2009 | Money Morning | 0 comments | ContinuedChina Natural Gas continues to grow
Press Release
10/14/08
China Natural Gas, Inc. one of the leading providers of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi’an, China, today announced that it has signed a contract with the local government to be the exclusive provider of compressed natural gas ("CNG") and piped natural gas to the Town of Tangyu in Lantian County, Xi’an City, Shaanxi Province. The Company will immediately commence the layout of infrastructure and expects to start providing natural gas distribution services beginning in the fourth quarter of 2008.
Mr. Qinan Ji, CEO and Chairman of…
New Natural Gas Discoveries are a Boon for the U.S. Energy Sector
After declining for 15 years, U.S. natural gas production is finally on the rise, thanks to new technological developments that make it possible to draw large amounts of gas from deposits previously thought to be unreachable. An increase in natural gas production of the magnitude many industry insiders predict could do wonders for business, the environment and even U.S. energy independence.
U.S. gas production is up 9% this year – a rate of increase not seen since 1984 – with most of that gain coming from natural-gas shale, particularly the Barnett Shale, a deposit that now produces 7% of the…
28Aug2008 | Money Morning | Comments Off | ContinuedFalling Oil Still Gives Us Investment Opportunities
Oil’s Big Run Up and Let Down
On the energy front, we’ve seen several days of declining prices. Oil has led the way, falling from about $146 to $112. Coal and natural gas sold down, as well, as did many energy companies and service firms.
So we’ve seen quite a tumble, led by declining oil. But then again, oil had quite a run-up. I’ve said before that oil was climbing too far, too fast. And over the past few weeks, oil tested the $150 mark. But like Gen. Pickett at Gettysburg, this charge to $150 failed.
What seems pretty clear is that at…
13Aug2008 | The Penny Sleuth | Comments Off | ContinuedOil Defies a Correction…
The returns are coming in from the distant precincts of the oil patch, and the winner is……… Oil!
The price for oil has barely budged based on the Saudi Summit. There has been no summer sell-off, and I’d be surprised to see a significant pull-back as the summer driving season kicks into gear. (Followed by hurricane season, and then the buildup for winter heating stocks, followed by winter.)
What’s going on? Well, what the Saudis give — in proposed, future increased production… the Nigerians take away — with ongoing oil patch carnage that forces the likes of Shell & Chevron to close vast pipeline systems.…
26Jun2008 | Energy and Oil | Comments Off | ContinuedMineral Rights: Landowners are getting rich
With food and energy prices making climbs higher and higher nearly every day, somebody must be getting rich. But who? The gas stations claim they can barely get by. Farmers are protesting their own rising costs. And Exxon Mobil shareholders have little to smile about. Share price has barely risen over the last year.
Well, it looks like at least one small portion of the American population will be making money from this mess. Landowners in Pennsylvania, West Virginia, and even parts of New York have folks knocking at their doors almost daily. The checks they are willing to write are getting bigger by…
30Apr2008 | Guest Contributor | Comments Off | ContinuedRussia vs. the Ukraine: Gazprom always wins
The Ukraine government is a teenage boy, and a rather ungrateful teenage boy, at that. The former Soviet Bloc country wants to be independent and chose its own friends. But at the same time, it still wants an allowance from good old Dad.
And in this case, Dad is Russian natural gas giant Gazprom, which threatened yet again this week to cut off not only the Ukraine’s allowance, but its electricity, too. And those threats aren’t going to end anytime soon.
In the good old days, the USSR subsidized energy to Soviet states. And even after capitalism and Gazprom emerged from the…
15Feb2008 | Stephanie Grimmett | Comments Off | Continued
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