Natural Gas Ends Week on a High Note; Russia and Greece Sign Gas Deal

Natural Gas Ends Week on a High Note; Russia and Greece Sign Gas Deal

The natural gas price ended last Friday on a high note after a bumpy week. Natural gas for July delivery settled up 3.9 cents, or 1.4 percent, at $2.816 per million British thermal units on the NYMEX. For the week, it rose 6.6 cents, or 2.4 percent, for a second straight week of gains.

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Company News

Simba Energy Signs Agreement with Essel Group to Invest in its African Oil and Gas Projects

Simba Energy Inc. (TSXV:SMB) announced that it has entered an agreement with Essel Group Middle East, a subsidiary of Essel Group India that will see Essel Group earn 60 percent participating interest in Simba's production share contracts in Kenya, Chad and Guinea. As part of the agreement Simba will be carried on all future exploration costs.

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Market News

Infographic: The World’s 10 Biggest Oil and Gas Companies

The latest inforgraphic from Visual Capitalist not only ranks oil producers based on factors such as barrel production per day, but it also compares data from a decade ago with today’s information for better perspective.

Australia’s LNG Industry to Contribute AU$55 Billion to GDP by 2020

Mining Weekly reported that Australia's liquefied natural gas (LNG) industry could contribute more than AU$55 billion to the country's GDP by 2020 if it can improve international competitiveness, introduce a more flexible labor regime and remove regulatory constraints. These findings came from a new analysis put together by LNG producer Accenture Plc (NYSE:ACN).

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