Natural gas
Oil prices experienced a decline on Friday, culminating a week of volatility, as traders awaited the OPEC meeting. The Norwegian Labor Party's agreement to a 3% reduction in oil output, resulting in a 100,000 b/d decrease, was met with skepticism, as many observers questioned its effectiveness
Natural gas
The natural gas market is showing signs of tightening, driven by recent storage withdrawals and bullish fundamentals. The April Henry Hub futures contract closing price of $2.300/MMBtu, along with the American Gas Association's (AGA) storage report indicating large withdrawals, suggests rising gas prices for the rest
Petroleum industry
Oil prices experienced an early rally on Thursday, inspired by short-covering and technical plays, but momentum faltered late in the day. Traders were covering their positions ahead of the expiration of the April contract in New York, which contributed to the rally. However, as the day progressed, prices lost steam,
Petroleum industry
Mexican national oil monopoly Petroleos Mexicanos (Pemex) announced a significant reduction in the country's crude oil and natural gas reserves, citing a new accounting methodology aimed at aligning the company with international standards. According to Pemex Director-General Adrian Lajous, total hydrocarbons reserves estimates for the end of 1998
Gas industry
In a welcomed relief to consumers, gas prices in Hampton Roads have continued to drop, with some stations offering regular unleaded gasoline for as low as 99 cents a gallon in March. This significant price drop is attributed to a combination of factors, including low crude oil prices, a decline
Gas industry
Crude oil prices continued their downward trend, with both Nymex and IPE futures experiencing losses on Friday. Despite an initial surge in buying interest, the market's interest waned, with prices dropping to session lows. This comes as OPEC has postponed its ministerial monitoring subcommittee meeting, originally scheduled for
Natural gas
Oil prices in New York and London saw minimal movement despite ongoing uncertainty surrounding the potential meeting of the Organization of the Petroleum Exporting Countries (OPEC) ministerial monitoring committee. The scheduled meeting, initially set for March 16, is now likely to be delayed, which has rekindled bearish sentiments in the
Petroleum industry
The departure of BHP's Managing Director and Chief Executive, Mr. John Prescott, has marked a significant turning point for the company. This move, announced yesterday, is expected to bring about a change in strategy for the struggling giant, which has faced a tumultuous year of writedowns, profit slumps,
Petroleum industry
Niagara Mohawk Power Corp. and Suncor Energy Inc. have made history with a groundbreaking greenhouse gas emissions trade that marks a significant step towards creating a global market and international trading system for reductions in emissions of greenhouse gases, such as carbon dioxide. The agreement has a potential value of
Gas industry
The year 1997 saw a record-breaking $12.8 billion in total value of domestic oil and gas mergers and acquisitions (M&A), according to Cornerstone Ventures L.P.'s 1997 Annual Reserve Report. This represents a 62% increase from the previous year's total of $7.9
Gas industry
Susan Davis, a registered nurse with experience in operating rooms and as a clinical systems analyst, has taken on the role of Anchorage manager at NYL Care Health Plans Northwest Inc., a subsidiary of New York Life Insurance Co. Meanwhile, Tom Hunter has been promoted to vice president of marketing
Natural gas
Syntroleum Corp. and Enron Corp. have partnered to develop the first commercial gas-to-liquids (GTL) plant in North America, located in Sweetwater County, Wyoming. The planned 8,000 barrels per day (b/d) plant will convert 80 million cubic feet per day (MMcfd) of natural gas into specialty products, including synthetic
