By Duncan Sutherland – Exclusive to Gas Investing News
Market News:
The American Energy Information Administration (the U.S. Government’s register of official energy statistic) is still forecasting an increase in home heating costs over the winter. The EIA did note that its figures were subject to change as new information about the extent of the financial crisis [...]
By Duncan Sutherland- Exclusive to Gas Investing News
Company news
The headline this week is obviously Shell (NYSE:RDS.A) and the Iraqi government putting ink to paper on a US$4 billion joint venture deal that will see the company collect flareoff from oil production in Southern Iraq’s Al-Basra province.
In even better news, Shell opened a new office in [...]
By Duncan Sutherland – Exclusive to Gas Investing News
Market news
The radical realignment of oil and gas prices after Hurricane Gustav’s relatively tranquil passage through the Gulf of Mexico has been interesting to watch.
NYMEX futures showed light crude taking a body blow, while natural gas seemed to largely shrug off the news. Part of this is [...]
By Duncan Sutherland – Exclusive to Gas Investing News
Bloomberg reported that NYMEX natural gas futures have lowered to their lowest in six months. The huge decline in the past month is comprised of multiple factors. First, the increased output and stockpiles have reassured traders of supply security. Second, the commodity drawdown has lured hedging investors [...]
Devon Energy Corp. second-quarter profit rose 44% as the oil and natural gas firm boosted production.
The company said:
The combined effects of increased oil and gas production and higher oil, natural gas and natural gas liquids prices led to the increase in sales.
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Tuesday, October 7, 2008