Oil and energy companies said that there will be an overage of gas supplies until 2014. There was a decrease in demand for gas due to the financial and economic crisis in 2008 so gas prices have collapsed.
Jean-Jacques Mosconi, head of strategy for Total SA (TOTF.PA) is quoted saying:
“Gas faces a bubble — especially in [...]
Read the full article: "Companies See Two-Tier World Gas Market til..."
Monday, May 24, 2010
BHP Billiton (BHP.AX)(BLT.L), world’s largest mining company, is planning to drill for gas in South Africa’s West Coast. This project will pursue once they get their permits by August 2010.
David van der Spuy, a resource evaluation manager at Petroleum Agency SA is quoted saying:
“BHP Billiton holds the area on sub-lease under the previous legislation and [...]
Read the full article: "BHP Billiton to Drill Gas in South Africa"
Wednesday, January 27, 2010
The federal government’s controversial decision to allow oil and gas drilling off Virginia’s coast is reported to be delayed.
The press release is quoted as saying:
The federal government’s current five-year drilling plan, which was drawn up under the Bush administration, calls for leasing almost 3 million acres in a triangular area located about 50 miles off [...]
Read the full article: "US Govt’s plan to drill off Virginia..."
Friday, December 18, 2009
On Thursday, the U.S. Federal Energy Regulatory Commission approved the $2.5 billion Jordan Cove liquefied natural gas import terminal and related pipeline project. This project is expected to help meet growing natural gas demand in the Pacific Northwest.
The news release is quoted as saying:
The terminal, to be located on Coos Bay in Oregon, would provide [...]
Read the full article: "Jordan Cove LNG import terminal gets approval"
Wednesday, November 18, 2009
On Wednesday, gas rose above 80$ per barrel. The dollar continues to weaken against other currencies.
The news article is quoted as saying:
The dollar has fallen steadily for most of this year and hit a 15-month low this week, helping drive commodities higher as investors have sought hard assets to hedge against the depreciating currency.
Click here [...]
Read the full article: "Gas rose above 80$ per barrel"
Tuesday, November 17, 2009
On Monday, The Organization of the Petroleum Exporting Countries (OPEC) president Jose Botelho de Vasconcelos said it was still too early for the oil exporters’ group to make a decision on production changes. Global oil market still oversupplied.
The news article is quoted as saying:
The Organization of the Petroleum Exporting Countries will meet in Luanda, Angola, [...]
Read the full article: "Too early for the oil exporters’ to..."
Thursday, August 20, 2009
The slip-sliding natural gas market plumbed new seven-year depths Tuesday, and industry watchers warned that overflowing storage facilities and tepid demand could push prices still lower.
For full story, click here
Read the full article: "Natural Gas Prices Can’t Find a Bottom"
Wednesday, August 19, 2009
A 50 billion Australian dollar $41 billion deal for China to purchase Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests.
For full story, click here
Read the full article: "Australia, China Inked $41 bln Natural Gas..."
Tuesday, August 11, 2009
Canada’s energy players don’t quite seem to get it. At least, not yet. There is much hand-wringing going on about the depressed state of natural gas prices but nothing is being done.
For full story, click here
Read the full article: "LNG Spurred on Ailing Market"
Monday, August 10, 2009
The government on Saturday declared the ongoing corporate dispute between the Ambani brothers over Andhra offshore gas will not impact India’s acreage auctions, even as the petroleum ministry kicked off the series of roadshows to hawk 70 concessions with the aim of attracting $3 billion investments for exploration. Simultaneously, the government is also offering 10 [...]
Read the full article: "No Impact of Gas Dispute on 8th Acreage..."
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Wednesday, May 26, 2010