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Keyword: naturalgas

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  • Dresser-Rand to cut 8 percent of its workforce

    02/28/2015 7:21:12 AM PST · by thackney · 15 replies
    Fuel Fix ^ | February 27, 2015 | Collin Eaton
    Diesel engine and gas turbine maker Dresser-Rand Group is cutting 8 percent of its 8,100-employee workforce around the world in coming weeks, the company said Friday, trimming operating costs as falling crude prices have crushed profits in the oil service sector. The Houston firm, which makes oil industry tools including compression equipment and steam turbines, said the plan will cost $50 million in severance and other charges as it divests assets this year. But its “flexible” manufacturing business will enable the company to start realizing savings from fixed costs this year, it said. “While current market conditions may generate discomfort...
  • Making the Moral Case for Fossil Fuels

    02/28/2015 5:27:41 AM PST · by bestintxas · 11 replies
    am thinker ^ | 2/28/15 | j levy
    In the anti-fracking film Gasland, producer Josh Fox proclaims that the process of extracting previously inaccessible oil and gas from shale pollutes water supplies, increases the incidence of cancer and leads to higher levels of seismic activity, despite ample contrary evidence. This self-proclaimed environmental watchdog and anti-fracking crusader has led extensive efforts to end or prevent fracking throughout the United States by obfuscating the truth and stopping communities from reaping the benefits of America's shale boom. Josh Fox and others like him are uninterested in looking for improvements in fracking technology and safety. Instead they seek to shut down shale...
  • Kremlin: Ukraine has natural gas until Tuesday

    02/27/2015 6:28:31 AM PST · by McGruff · 8 replies
    UPI ^ | Feb. 27, 2015 | Daniel J. Graeber
    The natural gas spigot could be closed for Ukraine as early as Tuesday unless it pays for more deliveries in advance, Russia's energy minister said Friday. Russian energy company Gazprom confirmed it received $15 million from its Ukrainian counterpart, Naftogaz, which ensures gas deliveries until Tuesday.
  • Texas Legislature Gets Down to Business

    02/27/2015 5:59:12 AM PST · by thackney · 3 replies
    Texas Alliance of Energy Producers via Rig Zone ^ | February 26, 2015 | Alex Mills
    Before the Texas Legislature got down to business a month ago, there was a strong feeling among insiders that the big issues would be water, transportation, and taxes. So far, the leadership has kept true to those projections. Already, Governor Abbott has called for a $2.2 billion reduction in property taxes and a $2 billion franchise tax decrease. Lt. Governor Dan Patrick and House Speaker Joe Straus also have stated their belief that a primary goal should be tax reduction, and funding for transportation. The House Energy and Natural Resources committees already have held a joint hearing on water and...
  • Rise in salt cavern storage capacity for natural gas offsets declines in other capacities

    02/26/2015 5:15:37 AM PST · by thackney
    Energy Information Administration ^ | FEBRUARY 26, 2015 | Energy Information Administration
    With natural gas storage at low levels in most of 2014 and production relatively high, minimal new natural gas storage capacity was built, except for salt facilities in the Producing region. Capacity in the East region of the United States fell slightly, resulting in relatively unchanged national total capacity. EIA measures natural gas storage capacity in November of each year, which is typically when storage withdrawals begin to exceed storage injections. From November 2013 to November 2014, EIA found that each of EIA's two measures of storage capacity within the Lower 48 states was virtually unchanged, as increases in salt...
  • Fracking pushes New York towns to consider secession, join Pennsylvania

    02/25/2015 5:10:42 AM PST · by thackney · 38 replies
    NEWSDAY ^ | February 22, 2015 | NEWSDAY
    ...According to WBNG in Binghamton, 15 New York towns in the southern tier of the state are considering seceding from New York and joining neighboring Pennsylvania because of Gov. Andrew Cuomo's fracking ban. A local group called upstate New York Towns Association is examining whether such a plan is possible, and if it's worth the cost. James Finch, Conklin Town supervisor, told Capital New York that "everybody over the border has new cars, new four-wheelers, new snowmobiles," because of the stronger economy in Pennsylvania, which allows fracking.
  • New York-Style Fracking Ban Defeated by Colorado Task Force

    02/24/2015 7:16:19 PM PST · by george76 · 12 replies
    Energy in Depth ^ | February 24, 2015 | Simon Lomax
    An activist who was using his position on Colorado’s oil and gas task force to push for a New York-style ban on oil and natural gas development has given up on the fringe proposal for lack of support, according to documents released by state officials overnight. The proposal’s demise is yet another defeat for national anti-fracking groups in Colorado, such as Food and Water Watch and the Sierra Club, which are desperately trying to reboot their failed campaign for an effective statewide oil and gas development ban. It’s also a reminder of how outside of New York, the “ban fracking”...
  • Study: Government’s [Unconstitutional] Control of Land Is Hurting Oil Production, Job Growth

    02/23/2015 10:11:18 AM PST · by PapaNew · 8 replies
    The Daily Signal ^ | February 22, 2015 | Ben Smith
    Current government regulations imposed by the Bureau of Land Management are harming energy production and holding back the U.S. economy, a new study reveals. “While federally owned lands are also full of energy potential, a bureaucratic regulatory regime has mismanaged land use for decades,” write The Heritage Foundation’s Katie Tubb and Nicolas Loris. The report focuses on the Federal Lands Freedom Act, introduced by Rep. Diane Black, R-Tenn., and Sen. James Inhofe, R-Okla. It is designed to empower states to regain control of their lands from the federal government in order to pursue their own energy goals. That is a...
  • Natural gas inventory exceeds five-year average for first time since November 2013

    02/20/2015 5:48:29 AM PST · by thackney · 12 replies
    Energy Information Administration ^ | FEBRUARY 20, 2015 | Energy Information Administration
    Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average. Recent extremely cold weather may result in high stock withdrawals for the week ending February 20, which could again push stocks below their five-year average. However, natural gas production in February and March that is forecast to average 5 Bcf/day above the year-ago level is likely to contribute to healthy inventories and moderate prices as the nation moves from winter into spring....
  • Natural Gas: Saving More and Emitting Less

    02/18/2015 9:03:23 AM PST · by ThethoughtsofGreg · 6 replies
    American Legislator ^ | 2-14-15 | John Eick
    Earlier this week, the American Gas Association released its 2015 Playbook. The report shows that natural gas continues to deliver safe, affordable, and reliable energy, while also providing environmental and energy efficiency benefits. Customers are deriving financial savings from using natural gas. For instance, households that use natural gas for space heating, water heating, cooking and clothes drying save an average of $693 per year compared to customers who use electricity to power these activities. Over the past five years, low natural gas prices have provided a total savings of almost $65 billion to natural gas customers, allowing this money...
  • The Federal Lands Freedom Act: Empowering States to Control Their Own Energy Futures

    02/18/2015 8:56:45 AM PST · by thackney · 5 replies
    The Heritage Foundation ^ | February 18, 2015 | Katie Tubb and Nicolas Loris
    Abstract The United States is now the world’s leader in both natural gas and oil production— centuries’ worth of oil, natural gas, and coal resources lie beneath private property as well as under lands owned by state governments. While federally owned lands are also full of energy potential, a bureaucratic regulatory regime has mismanaged land use for decades. The tremendous economic benefits of open energy markets and the proven track record of the individual states’ regulatory structures dictate a re-examination of the way the federal government manages resources on federal lands. The Federal Lands Freedom Act gives states the...
  • West Virginia Combined Cycle Plant Will Be First to Burn Ethane and Natural Gas

    02/18/2015 8:24:46 AM PST · by thackney · 3 replies
    Power ^ | 02/17/2015 | Gail Reitenbach
    On Monday, the West Virginia Public Service Commission (PSC) approved the siting certificate for Moundsville Power LLC to construct a 549-MW combined cycle natural gas power plant in Marshall County. It will be the first to also burn ethane. The company is also touting the project’s role in helping to offset the effect of area coal plant closings. With the PSC approval in hand, Moundsville Power’s next step is financing. Construction is scheduled to begin in late 2015, and the plant is expected to be operational in early 2018. The Moundsville Power facility will be a wholesale generator for the...
  • Why "drill, baby, drill" was right

    02/11/2015 4:35:29 PM PST · by upsdriver · 27 replies
    TribTalk ^ | February 11, 2015 | Sarah Palin
    It’s always a pleasure returning to the beautiful Lone Star State. This week I’m in Houston speaking with the industrious men and women of America’s oil patch at the North American Prospect Expo. These are the unsung heroes of our nation’s energy renaissance. In the brutal economic environment of the last six years, one sector had good news to report, and it came straight out of America’s oil patch. From 2007 to 2012, employment in the energy industry rose a dramatic 31.6 percent while employment nationwide fell 2.7 percent. U.S. oil production increased from 6.5 million barrels per day in...
  • Gov. Tom Wolf outlines 5 percent tax on natural gas drilling (It's for the Children!)

    02/11/2015 4:31:51 PM PST · by Kid Shelleen · 26 replies
    PennLive ^ | 02/04/2015 | Wallace McKelvey
    Gov. Tom Wolf outlined his proposal for a 5 percent severance tax on natural gas production, most of the proceeds of which will go toward education funding. "It's not like this is out of the blue," he said, in a speech from a Chester County elementary school. "We're the only state in the union with natural resources without a severance tax." The tax, which Wolf said was modeled after one in place in West Virginia, was a key component of his gubernatorial campaign.
  • Houston company postpones $100 million Nebraska plant project

    02/05/2015 4:41:56 AM PST · by thackney · 2 replies
    Fuel Fix ^ | February 4, 2015 | Associated Press
    A Houston-based company that makes piping and casing for oil and gas drilling has postponed plans to build a manufacturing plant in northeast Nebraska. Tejas Tubular Products President Maximo Tejeda told the Norfolk Daily News that he remains committed to building a mill next to Nucor Steel in Norfolk....
  • EPA turning regulatory eyes to natural gas, expert says

    02/04/2015 5:30:06 AM PST · by george76 · 22 replies
    Mississippi Watchdog ^ | February 4, 2015 | Steve Wilson
    A former Environmental Protection Agency regulator warns that while the Obama administration now has coal in its crosshairs, natural gas is next in line. David Schnare cites a proposed rule on methane emissions as one of the ways President Obama and the EPA will clamp down on natural gas. The 33-year EPA veteran, who once sued utilities for coal-fired plants that didn’t meet Clean Air Act standards, is director of the Center of Energy and Environmental Stewardship at the Thomas Jefferson Institute for Public Policy. Schnare said the EPA — as part of its “Clean Power Plan” rule that would...
  • Energizing an energy policy

    02/03/2015 7:55:16 PM PST · by Tolerance Sucks Rocks · 3 replies
    The Washington Times ^ | February 2, 2015 | Ed Fuelner
    If you’re like most Americans, you’re enjoying the fact that it costs a lot less to fill up your car’s gas tank these days. If you’re a fan of big government, you may feel a bit ambivalent, though. Why? Because one of the biggest drivers behind the drop in gas prices is the rise in directional drilling and hydraulic fracturing (“fracking”) here at home. While the government is busy micromanaging the energy industry — trying to saddle it with more regulations while showering favors on so-called “green” companies — the free market is showing how to actually get things done....
  • Deliveries of liquefied natural gas take edge off region’s supply gap

    02/03/2015 5:57:35 AM PST · by thackney · 5 replies
    Portland Herald Press ^ | February 1, 2015 | TUX TURKEL
    A tanker offloaded enough liquefied natural gas at Boston Harbor last week to heat 30,000 homes for a year, bolstering New England’s tight pipeline capacity just as a new wave of below-average temperatures threatens to strain energy supplies. But some advocates say this strategic slug of LNG during the coldest days of the winter can do more: It may help lower wholesale power prices from Connecticut to Maine, helping to hold down the cost of electricity for homeowners and businesses. That’s a debatable claim, but it highlights the intensifying dispute over whether New England power customers should spend billions of...
  • Vermont just replaced its only only nuclear reactor with fossil fuels obtained from fracking

    02/02/2015 3:04:53 PM PST · by grundle · 26 replies
    wordpress ^ | February 1, 2015 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Vermont just replaced its only only nuclear reactor (which had accounted for 71.8% of the state’s electricity production) with fossil fuels obtained from fracking For the past 42 years, Vermont’s only nuclear power plant was responsible for 71.8% of the state’s electricity production. This huge amount of electricity was generated by a single nuclear reactor.Vermont has just shut down this reactor.The replacement energy source for this shut down reactor is shale gas, a fossil fuel whose combustion causes global warming, and which is obtained from fracking.And all this time, I had thought that liberals in Vermont...
  • Feds To Regulate Fake Fireplaces To Stop Global Warming

    01/31/2015 11:14:52 AM PST · by Tolerance Sucks Rocks · 88 replies
    The Daily Caller ^ | January 30, 2015 | Michael Bastasch
    Better go out and buy a gas fireplace and stove soon before federal regulations make them more expensive. Federal officials are looking to regulate the energy usage of fake fireplaces as part of the Obama administration’s effort to fight global warming.The Energy Department has proposed new regulations that would mandate that “gas-fired hearth products” like decorative fireplaces and stoves be more energy efficient and produce fewer carbon dioxide emissions. DOE says its rule would save $165 over the lifespan of the average hearth and reduce carbon dioxide emissions by 11.1 million metric tons through 2030.The major change DOE demands is...
  • Pennsylvania reinstates drilling moratorium

    01/30/2015 11:05:46 AM PST · by Berlin_Freeper · 27 replies
    upi.com ^ | Jan. 30, 2015 | Daniel J. Graeber
    A decision to ban oil and gas drilling on state land in Pennsylvania was met with praise and criticism, with an industry leader describing it as a "lose-lose." Louis D'Amico, president and executive director of the Pennsylvania Independent Oil & Gas Association, said the moratorium struck a blow against an industry that's already returned more than $700 million in revenue to the state in the last seven years. "This is a lose-lose for Pennsylvania's taxpayers and energy consumers," he said in a statement Thursday.
  • Dozens Recovering from Mexico City Hospital Blast

    01/30/2015 6:28:16 AM PST · by Citizen Zed · 6 replies
    cbn ^ | 1-30-2015
    More than 70 victims are recovering from their injuries after a massive explosion destroyed most of a maternity hospital in Mexico City Thursday. At least one adult and two babies were killed, and several more victims were left in critical condition due to the disaster caused by a powerful gas explosion. The blast collapsed about three-fourths of the hospital, and firefighters and emergency crews raced through rubble as nurses and moms carried crying infants from the wreckage. Operation Blessing was on the scene of the tragedy within moments to offer aid. An Operation Blessing worker lives in the neighborhood, and...
  • Contributions of Horizontal Drilling and Hydraulic Fracturing to the USA Economy

    01/30/2015 5:37:01 AM PST · by thackney · 1 replies
    Oil Pro ^ | 1-29-2015 | Richard Goodwin
    Horizontal Drilling and Hydraulic Fracturing, represent technology developed in the 1980’s, are responsible for extracting Shale Gas and Shale Oil [Unconventional Liquid Hydrocarbons] from previously non-productive shale formations about one mile below the surface. As this technology was applied throughout the USA environmental upsets occurred (e.g. well water contamination in Weis County TX and Methane leaks in Dimrock PA. Recent peer review studies [Cornel, Stanford, Duke, Texas University, Penn State University and Ohio State University] have shown that these incidents could have been avoided by maintaining proper well integrity. State regulatory agencies now require adherence to industry standards, to ensure...
  • Foreign Firm Funding U.S. Green Groups Tied to State-Owned Russian Oil Company

    01/27/2015 7:59:35 AM PST · by george76 · 29 replies
    Washington Free Beacon ^ | January 27, 2015 | Lachlan Markay
    Executives at a Bermudan firm funneling money to U.S. environmentalists run investment funds with Russian tycoons. A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle. One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president...
  • Sasol delays $14B gas-to-liquids plant near Lake Charles during oil price slump

    01/28/2015 9:38:39 AM PST · by justlittleoleme · 8 replies
    NOLA.com | The Times-Picayune ^ | January 28, 2015 at 8:59 AM | Katherine Sayre,
    South African petrochemical company Sasol is delaying a decision on whether to move forward with a proposed $14 billion gas-to-liquids facility outside of Lake Charles, the company said Wednesday (Jan. 28). Sasol said the plans are being put on hold as the company saves cash in response to falling oil prices. The gas-to-liquids facility is part of a $21 billion planned complex in Westlake, one of the largest foreign investments in Louisiana history. "Albeit at a much slower pace, we will continue to progress the U.S. GTL facility," Sasol president and CEO David Constable said in a news release. "This...
  • Oil, Gas Salary Adjustments Amid Oil Price Decline

    01/25/2015 8:12:38 AM PST · by thackney · 18 replies
    Rig Zone ^ | January 23, 2015 | Gene Lockard
    As many energy industry companies revise their capital expenditures downward for 2015 amid the steep drop in crude oil values, they are making a variety of decisions with regard to worker compensation, according to Aon Hewitt, a global human resource company that tracks corporate performance, reward and talent. The slide in crude oil prices picked up speed late in 2014, about the time that financial decisions for 2015 were being made. As prices continued to dip, many companies within the industry revisited the budgeting process early in the new year in light of the current reality of sub-$50/barrel crude oil....
  • EPA Putting Electricity Grid At Risk

    01/23/2015 11:58:15 AM PST · by Tolerance Sucks Rocks · 15 replies
    The Daily Caller ^ | January 22, 2015 | Mike Duncan
    When the temperature dips below freezing, reliable electricity becomes more than a matter of convenience but a matter of life and death. Unfortunately, the reliability of our electric grid is at-risk due to EPA regulations that are shutting down America’s coal plants.Existing EPA regulations already have led to the scheduled shutdown of nearly 20 percent of the U.S. coal fleet. EPA’s newest carbon regulations being finalized this summer will lead to even more shutdowns. With coal responsible for generating nearly 40 percent of America’s electricity, these shutdowns will further strain our nation’s electricity grid and could leave many Americans in...
  • Range Resources cuts spending plan amid low prices

    01/19/2015 5:16:48 AM PST · by thackney · 4 replies
    TribLIVE.com ^ | Jan. 15, 2015 | Tribune-Review
    Pennsylvania's most prolific shale gas driller dialed back 2015 spending plans Thursday because of low natural gas prices, following a general belt-tightening among energy companies across the country. Fort Worth-based Range Resources Corp., which has a regional headquarters in Cecil, dropped its capital expenditure plan by a third to $870 million from $1.3 billion. That initial figure was 18 percent lower than its 2014 plan. The company plans to spend nearly all that money in developing Marcellus shale wells and still plans to increase gas production by 20 percent over this year. “The time and effort that Range spent in...
  • Putin Cuts Off Gas Supply To Six European Countries Without Warning

    01/18/2015 2:50:54 PM PST · by dila813 · 105 replies
    Forbes ^ | 1/18/2015 @ 4:03PM | Paul Gregory
    On January 14, Vladimir Putin ordered Russia’s natural gas monopoly, Gazprom, to cut back by 60% the natural gas delivered to Europe through Ukraine. His ostensible reason: Ukraine was illegally siphoning off gas for its own use—a charge Ukraine denies. Overall Europe depends on Russia for 30% of its gas supplies, and some 80% of Europe’s Russian natural gas comes via Ukraine. Putin’s order would leave six countries in eastern and southeastern Europe totally without gas.
  • API's Gerard to President Obama: Follow Facts and Science, Not Politics

    01/16/2015 4:56:32 AM PST · by thackney · 6 replies
    Rig Zone ^ | January 15, 2015 | Gene Lockard
    Ahead of President Obama’s upcoming State of the Union (SOTU) address, American Petroleum Institute (API) President and CEO Jack Gerard discussed ways for the president to take a leadership position on the oil and gas industry in the United States. The energy industry has gone from scarcity in the 20th century to abundance early in the 21st century, generating billions in tax revenue, creating millions of new jobs and providing a boost to manufacturing, Gerard said, thus necessitating a new way of thinking about energy. The change also offers the country an opportunity to achieve a level of energy security...
  • Enjoying cheaper gas? Don’t worry, EPA is about to cause it to go up again

    01/15/2015 8:39:14 PM PST · by SeekAndFind · 28 replies
    Hotair ^ | 01/15/2015 | Bruce McQuain
    Yes friends, never let it be said that this administration isn’t beholden to special interests to the detriment of the middle class.The oil shale boom has helped create a surplus of oil that has entered the market and driven prices down to under $2 a gallon. It is an economic boon to hard pressed families and businesses who use a lot of fuel. It is also a testament to how well markets work.And that’s why government is about to intrude in that market and jack the prices back up. This time under guise of your out-of-control EPA: In spite...
  • Russia Is Losing Control Over The European Gas Market

    01/15/2015 3:21:25 AM PST · by elhombrelibre · 5 replies
    Reuters ^ | 14 Jan 15 | Elena Holodny
    Oil isn't Russia's only problem. The energy exporter is losing its dominance over the European gas market. In the past there were two factors that kept Russia as the major gas powerhouse: European policies and cold winters. But both of those things have changed — and Russia is starting to explore non-Western countries.
  • Shell scraps plans for multi-billion dollar petrochemical plant

    01/14/2015 10:12:36 AM PST · by thackney · 3 replies
    Fuel Fix ^ | January 14, 2015 | Ryan Holeywell
    Royal Dutch Shell won’t move forward with plans for a new petrochemical plant in Qatar, the company announced Wednesday, citing the “economic climate” facing the energy sector today. The project, dubbed Al Karaana, had been in the works for more than three years. It would have been a joint venture between Shell, which had a 20 percent stake in the project, and state-owned Qatar Petroleum, which had an 80 percent stake. Shell said in a statement that it decided not to move forward with Al Karaana after receiving bids from engineering and construction firms that ”showed high capital costs, rendering...
  • Obama targets oil and gas industry, demands massive reduction in methane emissions

    01/14/2015 7:34:49 AM PST · by Jan_Sobieski · 55 replies
    The Washington Times ^ | 1/14/2015 | Ben Wolfgang
    Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade. The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues...
  • Obama Is Said to Be Planning New Rules on Oil and Gas Industry’s Methane Emissions

    01/14/2015 5:15:28 AM PST · by Citizen Zed · 29 replies
    ny times ^ | 1-13-2015 | CORAL DAVENPORT
    In President Obama’s latest move using executive authority to tackle climate change, administration officials will announce plans this week to impose new regulations on the oil and gas industry’s emissions of methane, a powerful greenhouse gas, according to a person familiar with Mr. Obama’s plans. The administration’s goal is to cut methane emissions from oil and gas production by up to 45 percent by 2025 from the levels recorded in 2012. The Environmental Protection Agency will issue the proposed regulations this summer, and final regulations by 2016, according to the person, who spoke on the condition of anonymity because the...
  • Environmentalists are Wrong about Port Ambrose LNG

    01/13/2015 5:16:02 AM PST · by thackney · 5 replies
    The Energy Collective ^ | January 13, 2015 | Edward Dodge
    The proposed Port Ambrose deepwater LNG terminal near New York City has been denounced by environmentalists as a dirty and dangerous export terminal in disguise. The reality is that LNG is the safest and cleanest fuel available and natural gas is critical in efforts to eliminate air pollution and save lives in New York City. Protesters showed up at a public hearing January 7 on Long Island to encourage Governor Cuomo to veto the proposal for the terminal. The Port Ambrose LNG terminal should be appreciated by environmentalists as a technological marvel that helps provide much needed seasonal supplies of...
  • Natural Gas Market Is Ice Cold

    01/09/2015 6:13:56 AM PST · by thackney · 33 replies
    Wall Street Journal ^ | Jan. 8, 2015 | TIMOTHY PUKO
    Furnaces from Minnesota to Maine are running full-blast as frigid temperatures descend from the Arctic. But the natural-gas market is still ice cold. Prices for the fuel, used to heat half of U.S. homes, hit a more-than two-year low this week and are down 35% since mid-November. The arrival of freezing weather across most of the country hasn’t revived the market. Normally, plunging temperatures are a cue for traders to make bullish bets because the resulting spike in demand can deplete natural-gas supplies. Last February, prices jumped by more than 30% in a matter of days during one particularly severe...
  • Cowen: Global Oil and Gas Exploration Spending to Slide 17%

    01/08/2015 5:21:57 AM PST · by thackney · 10 replies
    Rig Zone ^ | January 08, 2015 | Reuters
    The world's oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets... The survey, based on an average oil price of $70 per barrel, estimates that global exploration and production expenditures will slide 17 percent to $571 billion. If oil prices average $60 per barrel, spending should drop by 30 percent to 35 percent, according to the survey of 476 oil companies. ...under $50 per barrel on Wednesday... North American spending is forecast to drop by 22 percent...
  • Outlook 2015: Q and A with oilpatch veteran Jim Gray

    01/02/2015 8:32:32 AM PST · by thackney · 10 replies
    Calgary Herald ^ | January 1, 2015 | Deborah Yedlin
    With oil prices sliding downward, Jim Gray — a veteran of Alberta’s energy business — provides perspective. 1. There has been a lot of gloom and doom over the oil price slide. What do you make of the 50 per cent drop in the price of oil since June? There are many precedents for a 50 per cent slide in oil prices. Just since 1983, there have been four principal slides. When you look at the history of oil prices since 1983, you’ll see the rate of recovery is tied to how quickly prices fell. In 1986, prices dropped between...
  • How Putin Forged a Pipeline Deal That Derailed

    12/30/2014 11:14:59 PM PST · by elhombrelibre · 13 replies
    NYT ^ | 30 Dec 14 | JIM YARDLEY and JO BECKER
    SOFIA, Bulgaria — Barely two weeks after President Vladimir V. Putin annexed Crimea on one side of the Black Sea, he won a different prize on the other side. In Bulgaria’s Parliament, lawmakers gave initial passage to a bill clearing the way for a mammoth gas pipeline from Russia. The pipeline, known as South Stream, was Mr. Putin’s most important European project, a tool of economic and geopolitical power critical to twin goals: keeping Europe hooked on Russian gas, and further entrenching Russian influence in fragile former Soviet satellite states as part of a broader effort to undermine European unity....
  • Lithuania's LNG terminal receives first commercial cargo

    12/29/2014 2:44:53 AM PST · by WhiskeyX · 2 replies
    LNG World News ^ | LNG World News
    Lithuania’s LNG terminal at the port of Klaipeda has reached another milestone since the official start of operations earlier this month. According to Klaipeda port data, the 155,000 cbm Arctic Aurora LNG carrier delivered the first commercial cargo of liquefied natural gas from Statoil’s Hammerfest facility, on Tuesday. Earlier in October, Höegh LNG’s FSRU Independence received the first cargo that was delivered to Klaipeda for testing purposes. It was also delivered from Norway onboard the 160,000 cbm Golar Seal. The first commercial cargo signs the beginning of Lithuania’s independence from Russian gas. Lithuania’s President Dalia Grybauskaitė was recently quoted saying...
  • The Next Shale Revolution?

    12/24/2014 5:01:42 AM PST · by RoosterRedux · 15 replies
    weeklystandard.com ^ | SAMUEL THERNSTROM
    Just five years ago, almost no one outside the natural gas industry had heard of fracking, even though the basic technologies were not new; today, the shale gas revolution has transformed America’s energy markets, with profound effects for economic growth, competitiveness, security, and environmental quality. In a nation still deeply concerned about its energy future, this extraordinary success story should prompt the question: Can we do it again? The answer is yes​—​if we correctly understand both the model for innovation that shale gas exemplifies and an opportunity that now exists to emulate the shale model. That opportunity involves exploiting a...
  • Southwestern Energy to buy more Marcellus, Utica acreage

    12/23/2014 8:21:58 AM PST · by thackney · 7 replies
    Fuel Fix ^ | December 23, 2014 | Collin Eaton
    Southwestern Energy Co. said Tuesday it is planning to snap up Statoil’s 20-percent stake in oil and gas assets in West Virginia and southwest Pennsylvania for $394 million, just a day after closing its biggest-ever deal with Chesapeake Energy in the region. The transaction, which encompasses 30,000 net acres, boosts Southwestern Energy’s working interests in that area of the Marcellus and Utica shale plays by 5.8 percent to 73 percent. The wells on the land produce about 29 million cubic feet of gas a day, as of October. The deal is expected to close early next year. It’s the Houston...
  • Just look across the NY-PA border for safe and responsible fracking

    12/22/2014 8:47:58 AM PST · by thackney · 22 replies
    ExxonMobil ^ | December 18, 2014 | Ken Cohen
    The comedian Chico Marx famously asked, “Who you gonna believe, me or your own eyes?” That’s the question I feel like Governor Andrew Cuomo is posing to New Yorkers with his decision to ban hydraulic fracturing in the Empire State’s portion of the Marcellus Shale. The governor and his allies – most notably the acting state health commissioner, whose report served as justification for Mr. Cuomo’s decision – say the move will protect New York’s air, land, and water. For years now, New Yorkers have been besieged by apocalyptic claims made by anti-oil and gas activists – many of them...
  • Shock in Southern Tier of New York as Hopes of Gambling and Fracking Both Die

    12/22/2014 7:18:54 AM PST · by C19fan · 26 replies
    NY Times ^ | December 18, 2014 | Jesse McKinley
    To get a sense of the deep disappointment felt by many here at the twin killings of two potentially lucrative dreams, hydraulic fracturing and a new luxury casino, one needed to look no further than the front-page headline of Thursday’s edition of The Press & Sun-Bulletin. It was two letters, in red type: “NO!” That cry could seemingly be heard all along New York State’s Southern Tier, which borders Pennsylvania and has long been one of the state’s most stubborn economic laggards. In recent years, both hydraulic fracturing — known as fracking — and casinos had been posited as potential...
  • Russia Angling for Share In Israeli Natural Gas [Ezekiel 39-39]

    12/18/2014 12:15:51 PM PST · by Jan_Sobieski · 5 replies
    Hamodia ^ | 06/08/2014 | Hamodia Staff
    YERUSHALAYIM (Hamodia Staff) - Russia wants in on the Israeli natural gas boom, but the U.S. wants them to stay out, and that’s why they haven’t made progress negotiating with the Israelis, ambassador to Israel Sergey Yakovlev hinted in an interview with Globes. Russia has been seeking entry into the Mediterranean gas fields for some time, but so far to no avail. Gazprom, for one, showed interest in becoming a partner in the Leviathan reserve, one of the most important in the Mediterranean Sea, but nothing substantive came of it...
  • Global Warming, Empty Gestures

    12/18/2014 6:37:24 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | December 18, 2014 | Debra J. Saunders
    I have a theory as to why Americans don't worry all that much about global warming: High-profile purveyors of climate change don't push for reductions in greenhouse gases so much as focus on berating people who do not agree with their opinions. They call themselves champions of "the science" yet focus on ideology more than tangible results. Their language is downright evangelical. Recently, science guy Bill Nye joined other experts who objected to the media's use of the term "climate skeptic." They released a statement that concluded, "Please stop using the word 'skeptic' to describe deniers." Deniers? Like Judas? Why,...
  • ISRAEL MAKES NEW DISCOVERY OFF ITS COAST

    12/18/2014 9:47:29 AM PST · by thackney · 37 replies
    Natural Gas Europe ^ | December 18th, 2014 | Karen Ayat
    Israel made another discovery off its coast. The newly discovered field, Royee, may hold up to 3.2 Tcf of natural gas according to a statement made by the Israeli partners in the field Ratio and Israel Opportunity who hold respectively 70%, and 10% stakes. The remaining 20% of the field are held by Edison. Royee is located about 150 kilometers offshore Israel close to its maritime borders with Cyprus and Egypt. The field’s size is yet to be confirmed, but current estimates suggest it is the third largest field discovered to date in Israeli waters after the Leviathan discovered by...
  • NEW YORK TO BAN FRACKING; ENVIRONMENTALISTS CHEER

    12/17/2014 6:17:38 PM PST · by Hojczyk · 35 replies
    Breitbart Big Government ^ | December 17,2014 | by BREITBART NEWS
    Handing environmentalists a breakthrough victory, New York plans to prohibit fracking for natural gas because of what regulators say are its unexplored health risks and dubious economic benefits. New York, which overlies part of the gas-rich Marcellus Shale formation that has led to a drilling boom in Pennsylvania and other nearby states, has banned shale gas development since 2008, when the state began an environmental review of the drilling technique also known as hydraulic fracturing. Wednesday's announcement, though not final, means a ban is all but etched in stone. "Never before has a state with proven gas reserves banned fracking,"...
  • Cuomo to Ban Fracking in New York State, Citing Health Risks

    12/17/2014 10:03:02 AM PST · by Behind Liberal Lines · 112 replies
    ALBANY — The Cuomo administration announced Wednesday that it would ban hydraulic fracturing in New York State, ending years of uncertainty by concluding that the controversial method of extracting gas from deep underground could contaminate the state’s air and water and pose inestimable public-health risks... That conclusion was delivered publicly during a year-end cabinet meeting called by Gov. Andrew M. Cuomo in Albany. It came amid increased calls by environmentalists to ban fracking, which uses water and chemicals to release natural gas trapped in deeply buried shale deposits.