AMP Capital Investors, with $95 billion under management declared that it is selling oil futures to purchase natural gas contracts in anticipation of an imminent price spike. For full story, click here
Reliance Industries’ gas finds in the Krishna Godavari basin, if validated by Indian regulators, may place India among the top 15 gas producers in the world. For full story, click here
The Arctic region announced that it may hold enough natural gas to meet current global demand for 14 years and most of it belongs to Russia, which could accentuate the country’s dominant role in the industry, U.S. geologists said. For full story, click here
Construction has been commenced on a 1,740 kilometre pipeline from Iran through Turkey and on to consumers in Europe to carry Iranian gas, said the head of economic affairs at the Iranian embassy in Turkey on Friday. Ahmad Noorani, the Iranian embassy’s chief of economic affairs, stated: The Pars Pipeline will go from Turkey to [...]
Mangalore Refinery and Petrochemicals Ltd, a subsidiary Oil and Natural Gas Corporation, on Wednesday declared a 6.3 per cent dip in profit during 2008-09. For full story, click here
ONGC declared that it may invest $1.01 billion in Cairn India’s Rajasthan oilfields even though the project offers negative returns as the public sector firm is liable to pay all the statutory levies. For full story, click here
The Energy Department will likely to declare a 108 billion- to 113 billion-cubic foot jump in natural gas reserves on Thursday for the week ended May 22. For full story, click here
After D6 in Krishna Godavari basin, Reliance Industries declared that it has struck big in two nearby blocks with estimates putting in place natural gas reserves at 20 trillion cubic feet. For full story, click here
Brazilian state-run energy giant Petrobras announced that it will hold two or three more natural gas spot-market auctions in 2009. For full story, click here
The Indian government is likely to double the price of natural gas sold through the administered price mechanism to $4.2 per million metric British thermal unit, which is equivalent to the price that Reliance Industries is getting for its K-G basin gas. For full story, click here
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