Shares of Arch Coal Inc. continued falling Thursday after a Morgan Stanley analyst took the coal producer off a list of preferred stocks, saying warm weather spells trouble for coal prices.
Morgan Stanley analyst Henry H. McVey struck Arch Coal from the Focus List.
“We are increasingly concerned that high inventories and warm weather will prove to [...]

Xcel Energy wants to boost capacity and reduce emissions at its coal-fired Sherco power plant in Becker, Minn., with a $900 million expansion. The proposal would add 140 megawatts of electricity to Sherco’s current 2,400-megawatt capacity and use state-of-the-art technology to reduce emissions of mercury, nitrogen oxides, sulfur dioxide and soot, Xcel officials said Thursday. [...]

Iran and Pakistan are learnt to have decided to proceed expeditiously on the gas pipeline project, by neither waiting for reluctant India nor bothering the US, according to an ANI report.
A Pak-Iran agreement in this regard is likely to be signed early next month to cement their already signed Memorandum of Understanding, and also have [...]

An NGL (natural gas liquids) plant being constructed on Sirri Island in southern Iran will be completed within two years, project manager Mohammad-Reza Abrishami said.
Operations to construct the plant have so far progressed by 20%, and work on infrastructures is underway, he told the Iranian Students News Agency (ISNA).
“Expected to come on stream over [...]

Iran’s North Drilling Company (NDC) is gearing up to drill its ninth oil well in Turkmenistan after the completion of the eighth one, the NDC managing director told ISNA.
Based on a contract signed two years ago, the company is also assigned to start the drilling of the 10th well at hydrocarbon fields of this northern [...]

Vinccler Oil and Gas, C.A. , the wholly-owned subsidiary of PetroFalcon Corporation , announced that its 40%-owned joint venture, PetroCumarebo, S.A. (”PetroCumarebo”), confirmed the presence of oil and gas reservoirs with the LV-11 development well. PetroCumarebo subsequently suspended drilling operations and is in the process of skidding the rig for a re-drill of the [...]

Shares of China Oil and Gas Group (0603) surged as much as 50 percent Friday after it announced it has agreed to buy Vast China Group, which has won approval to invest in, construct and operate a natural gas station in Maanshan, Anhui province.
The company said it agreed to buy the entire stake in Vast [...]

Oil & Natural Gas Corp (ONGC) has entered into an agreement with Gujarat State Petroleum Corporation Ltd (GSPCL) for the sale of natural gas from its Olpad field in Ankleshwar.
The agreement, which was recently signed, is valid for three years. It can be renewed for another two years.
Speaking to DNA Money, NK Mitra, director (offshore), [...]

The constraints in gas procurement has forced state-run NTPC Ltd to try its luck by bidding for offshore blocks being offered by Australia.
Australia has put on offer 36 such blocks in the Commonwealth waters. It will assess all bids using a work programme bidding system and award exploration permits for an initial term of six [...]

The BSE Oil & Gas index was the sole gainer in all the four quarters of calendar 2006. The index gained 40.11 per cent to close at 6179.6 over a year-ago level of 410.64.
The Capital Goods index turned out to be the largest gainer with annual returns of 56.43 per cent. The 30-scrip Sensex was [...]