After sitting on the matter for years despite repeated pleas from Oil and Natural Gas Corporation and Oil India Limited to hike prices, the Petroleum and Natural Gas Ministry is learnt to have prepared a Cabinet note for a 15-20 per cent hike in natural gas to help the two companies cut losses due to [...]
The U.S. Energy Information Administration has expected natural gas prices to remain below $4 a thousand cubic feet until late this year amid robust supplies and weaker demand resulting from the economic slump. For full story, click here
Government declared that it will consider deregulating petrol and diesel prices as also raising rates of natural gas sold by state firms. For full story, click here
PetroQuest Energy Inc., an independent petroleum exploration and production company announced that it has posted a first-quarter loss driven by a hefty write-down related to deteriorating natural gas prices. For full story, click here
Chevron Corp. declared that first-quarter profit slipped 64 percent as it, along with competitors, was stung by lower oil and natural gas prices. For full story, click here
Shares of Dynegy Inc. dipped on Monday, as an analyst reported the power producer faces profit pressure from continued weak natural gas prices and lowered his rating on the company. For full story, click here
The Government reported that it has launched the biggest auction of oil & gas exploration blocks even as global energy producers cut investments in the face of slipping prices and the worst economic slump since the World War II. For full story, click here
As prices at the gas pump slowly rise, the price of fuel to heat homes and power buildings remains low as the world faces an abundance of natural gas. Tim Rundall, director of gas supply for South Jersey Gas, stated: There are fewer rigs out there. For full story, click here
Global prices of natural gas which is rising replacing liquid fuel, dipped by more than 50% over the last six months, leading to huge foreign exchange savings on imports. For full story, click here
Economy Minister Christine Lagarde said that French natural gas prices are likely to decline on April 1, to reflect lower oil prices. Lagarde said: There will certainly be a decline. It is expected and reflects lower oil and raw material prices. For full story, click here
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