February 16, 2016

From the Wall Street Journal Natural gas prices dropped to a two-month low Tuesday after weather forecasters removed almost all signs of frigid weather from the late-February forecast, a bad sign for heating-fuel demand. Futures for March delivery settled down 6.3 cents, or 3.2%, at $1.903 a million British thermal units on the New York Mercantile Exchange, the lowest settlement

From Alaska Dispatch News: U.S. Energy Secretary Ernest Moniz, on his second trip to Alaska in his current post and his fifth overall, talked about natural gas, renewable energy resources and his agency’s work in Alaska in a brief interview Monday. Asked how current low oil prices impact development of alternative energy resources, Moniz said that the low cost of oil

From Reuters: Peruvian exports of liquefied natural gas (LNG), usually nearly 1 million cubic meters per month, have stopped entirely since mid-January when a key pipeline was ruptured, official data showed Monday. The Andean country will likely resume its usual half dozen shipments of between 130,000 and 170,000 cubic meters per month in coming days, said a source with the

From The Wall Street Journal: The chief executive of General Electric Co.’s oil-and-gas business has visited Tehran to explore business opportunities there, the company said, the first known visit by an energy executive of an American company since before Western sanctions were imposed on Iran over its nuclear program. Lorenzo Simonelli, CEO of GE Oil & Gas, visited Iran in

From MassLive Connecticut’s last remaining coal-fired power plant will soon be converted to burn natural gas instead. Bridgeport Harbor Generating Station will start generating power from natural gas in June of 2019, said the Public Service Enterprise Group, which plans a $550 million investment to make the switch. Only two years ago PSEG said it wanted to keep the coal plant,

From New York Times: Yet another oil company has filed for bankruptcy, as the energy industry and its lenders brace for a prolonged slump. Paragon Offshore, which operates offshore drilling rigs from the Gulf of Mexico to the North Sea, filed for Chapter 11 bankruptcy protection Sunday evening, the latest filing in a painful shakeout buffeting the oil industry. Over