Norwegian oil company StatoilHydro ASA announced that it has found natural gas near its Snoehvit offshore field in the Barents Sea. Geir Richardsen, head of exploration activities in the far north for StatoilHydro, said: It is, of course, promising that we once more have proven gas in the Barents Sea. We need time to make an evaluation [...]
Read the full article: "StatoilHydro finds gas in Barents Sea"
Friday, October 31, 2008
Shares of Exxon Mobil, floundered as it posted its Q3 income of $14.83 billion, shattering the U.S. record. Exxon Mobil’s investor relations, chief David Rosenthal, said: Our integrated business portfolio, strong operational performance and financial discipline continued to allow us to capture the benefits of the commodity price environment. Despite recent volatility in the financial, commodity and [...]
Read the full article: "Exxon Mobil records biggest US quarterly..."
Friday, October 31, 2008
New York Mercantile Exchange November Natural Gas futures fell due to more than expected rise in inventory and weak oil prices weighed on gas prices. December natural gas ended at $6.431, down by 5.11%. For full story, click here
Read the full article: "November Natural Gas futures ends low"
Friday, October 31, 2008
Energy stocks rallied with the broad market, with a less-than-expected drop in GDP giing a lift to shares of natural gas producers. For full story, click here
Read the full article: "Natural gas stocks rises"
Thursday, October 30, 2008
Iranian gas export officials said that they have plans to develop a natural gas pipeline to Europe set to go online within the next s6 years. National Iranian Gas Export Co. Director Reza Kasaizadeh said: Persian Pipeline will be operational by 2014. The pipeline will run through Turkey and on to European markets. We have [...]
Read the full article: "Iran Plans increased Gas Exports to Europe"
Thursday, October 30, 2008
Whiting Petroleum Corp. said that Q3 net income soared to a record of $112.4 million, or $2.65 per share, on revenue of $388.4 million. For full story, click here For company’s website, click here
Read the full article: "Whiting Petroleum’s Q3 income soars"
Thursday, October 30, 2008
TXU Energy said that it is reducing prices as much as 10 % for more than 300,000 existing customers on several month-to-month residential plans. Dave Hennekes, vice president, residential markets, said: The lower prices reflect the fact that wholesale electricity costs have dropped as the price of natural gas has fallen. We are passing lower costs [...]
Read the full article: "TXU Energy Lowers Prices"
Thursday, October 30, 2008
Prices for natural gas fell more than 6 percent after the EIA reported a 46 billion cubic-foot increase in natural-gas supplies in storage for the week ended Oct. 24. Beth Sewell, managing partner at Quantum Oil & Gas Services, said: Wednesday was an artificial rally ahead of November’s expiration, short covering and rolling positions. This is [...]
Read the full article: "Natural gas fell more than 6 percent"
Wednesday, October 29, 2008
Blaze Energy Corporation said that its output for this year is rapidly increasing and on target to meet internal expectations. Mike Thompson, President of Blaze Energy, said: Currently, we have a working interest in over 134 wells, with 64 wells producing and selling gas. Moreover, we have an additional 14 wells within the drilling process. For [...]
Read the full article: "Latest on Blaze Energy’s Operations"
Wednesday, October 29, 2008
Gas prices will fall below $1 when prices are adjusted at midnight as observers expect prices to decline by at least two cents. For full story, click here
Read the full article: "Gas prices set to decline"
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Friday, October 31, 2008