Metropolitan Utility District officials predicted that natural gas prices will rise by 15 percent for the cold season. MUD’s Jim Knight said: For one, the high price of oil affects natural gas prices. For more information, click here
Queensland Gas is betting on a shining outlook for the development of the liquefied natural gas industry with the acquisition of Sunshine Gas. For more information, click here For company’s website, click here
Naperville-based natural gas distributor Nicor Inc. is encouraging customers to make their homes more energy efficient and to use its Web site, Nicorgas.com, to review energy usage and help reduce costs. For more information, click here
NYMEX announced margin changes for some of its natural gas basis swap futures contracts, beginning at the close of business tomorrow. For full story, click here
Canada’s dealings with Russia, including a pact giving gas giant Gazprom access to North America’s marketplace, are being reconsidered due to Russia’s foray into Georgia. Canada’s Prime Minister Stephen Harper said: We’re examining obviously all aspects of our relationship. We’re obviously focusing on aspects that have to with the strategic and military situation, but we will of [...]
Pantera Petroleum reported that it has started Commercial Natural Gas Sales From Its Sibley 84 #1 Well in West Texas. Pantera Petroleum’s CEO, Chris Metcalf said: We are very pleased to have successfully brought the Sibley 84 #1 into production at the natural flow rates we are seeing without the added step of acidization. For more [...]
Iran has raised its natural gas exports to Turkey after the Russia-Georgia conflict disrupted supplies from Azerbaijan. For more information, click here
Reuters reported, citing a company spokesperson, that Chesapeake Energy is planning to spin-off its natural-gas gathering business. Jeff Mobley, head of Oklahoma City-based Chesapeake’s investor relations, told Reuters: The company is proceeding to create a standalone business for its so-called midstream operation. For more information, click here
Allied Resources Inc. posted record financial results for the first half of 2008 due to increase in oil and gas revenues. Ruairidh Campbell, Allied’s chief executive officer, commented: While we are very pleased with these results, we are convinced that growth opportunities remain within the reach of small independent producers as energy prices make a [...]
Myanmar’s natural gas sales gained nearly 25 percent to US$2.5 billion in the financial year through March. Ministry of National Planning and Economic Development said: Natural gas sales constituted 40 percent of Myanmar’s total commodities export revenue of US$6.4 billion in 2007-2008, with neighboring Thailand being the primary market. For more information, click here
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