Crude oil fell below $57 a barrel Thursday for the first time in more than two weeks after an Energy Department report showed increases in U.S. inventories of natural gas, a competing fuel.
Natural gas supplies rose five billion cubic feet, or 141 million cubic meters, to 3.45 trillion cubic feet last week, the report showed. [...]
Oil prices rose Wednesday, as traders assessed declines in U.S. supplies of gasoline and diesel fuel.
Other factors prompting traders to buy were the possibility of further
OPEC production cuts; the specter of cold winter weather; and the feeling that the newly empowered Democrats won’t be shaking up the oil industry anytime soon.
“There’s some relief over the [...]
Petroleo Brasileiro SA, Bolivia’s biggest foreign investor, and Repsol-YPF SA agreed to the South American nation’s new energy law, pledging to search for more natural gas deposits.
Petrobras and Repsol were among eight companies that early today signed agreements with the Bolivian government, adding to accords with Total SA and Occidental Petroleum Corp. yesterday.
“The other option [...]
China has raised the capital threshold for projects converting coal to liquid fuel to brake a possible overheating in the coal-chemical industry, as excessive development of the fossil fuel pollutes the environment and strains the water supply.
On July 7, the National Development and Reform Commission (NDRC), China’s industrial watchdog, issued a circular requiring local governments [...]
The Department of Energy reports it will provide more than half of the funding for a $1 million MIT project aimed at helping oil and gas companies identify geologic ’sweet spots’ in low-permeability oil and gas reservoirs, optimizing the placement of wells.
The award is part of a larger initiative by the DOE aimed at [...]
Coal is making a comeback.
In an industrial corner of South Jersey, on a 300-acre parcel of land on the Delaware River, a company has negotiated for the last two years to build a $1 billion coal-burning electric plant that could juice 500,000 homes.
It is one of 150 coal-burning power plants on drawing boards around the [...]
www.NaturalGasStocks.com (NGS) and www.OilandGasStockNews.com (OGSN), global investor websites for the natural gas, energy and oil industries, take a look at speculation surrounding the 2006 hurricane season in terms of potential impacts on oil and natural gas supplies and prices. With the oil and gas sector, and in particular the Gulf region, still recovering from the [...]
