From the Egypt Daily News The General Union for Engineering and Mineral Industries requested the reduction of the price of natural gas for aluminium, metal and fertilisers plants in a conference held Sunday. The head of the union, Khaled El-Fekki, said the request comes following the government’s decision to reduce natural gas prices for steel factories, state-run MENA reported. Last
From Forbes “By the time we get through all of my conditions, I do not think there will be many places in America where fracking will continue to take place,” Hillary Clinton, March 6, 2016 Hillary’s strong anti-fracking statement is, at the very least, politically unsavvy: battleground states Ohio and Pennsylvania are our key incremental natural gas producers, and fracking
Samson Oil and Gas USA Inc. (a wholly owned subsidiary of Samson Oil and Gas Limited (ASX: SSN; NYSE MKT: SSN)) has received confirmation from its primary lender of its willingness to expand Samson’s borrowing base up to $30.5 million to enable the acquisition of the targeted producing properties in the Williston Basin. This expansion is conditional upon closing the
Continues to Evaluate Actions to Strengthen Company’s Balance Sheet HOUSTON, March 15, 2016 (GLOBE NEWSWIRE) — Energy XXI (NASDAQ:EXXI) today announced that it has made the interest payment due on its EPL Oil and Gas, Inc. 8.25% Senior Notes. This follows the Company’s decision to defer this interest payment originally due on February 16, 2016, commencing a 30-day grace period.
Iran will not freeze production below 4 MMBOP – Iranian Oil Minister Crude oil prices took a steep fall this morning as hopes that OPEC might curb production in order to reach a $50 per barrel price floor were diminished by news that Iran plans to continue increasing production. U.S. benchmark WTI fell as low as $36.73 today, while international
With so much oil being produced in the U.S. and nowhere to store it, why are we still importing? Crude oil stocks continued to build last week to levels well above the five-year average as global oversupply persists. Production in both OPEC and non-OPEC countries is beginning to decline, according to information from the IEA, but demand still has not
$80 Oil + $4 NatGas + 1,300 Rigs Working After the news of the past few weeks, it felt like we were getting really close to the day when investors and oil industry spouses might be ready to throw in the towel. Then EnerCom’s 14th west coast investor conference unearthed something in the shadow of the Transamerica Building. By blending together a batch of
From Bloomberg: The two energy companies at the heart of Russia’s economy are on the verge of a historic reversal that could subtly shift the balance of power in the corridors of the Kremlin. Gazprom PJSC, the world’s largest natural gas producer, is worth just $2.6 billion more than Rosneft OJSC, Russia’s biggest oil company. That premium, down from more
Contango Oil & Gas Co. Northern Blizzard Resources Inc. Solazyme Inc. Sterling Energy PLC
From CNBC: Oil prices could approach $100 per barrel in the coming years as firms struggle to maintain current production levels, a top hedge fund manager argued on Monday. ValueAct Capital Management’s founder and CEO Jeffrey Ubben said, as many companies cut labor forces, keeping up drilling activity will become “very difficult.” The slowdown in production could drive crude to
From Forbes: It was widely acknowledged that the Clean Power Plan (CPP), the Obama administration’s program to cut greenhouse emissions, was hard on coal. Now, upon closer examination, more experts say the plan could seriously undermine the country’s natural gas industry. For now, the CPP is on ice. The U.S. Supreme Court stayed the plan on Feb. 9, sending it
From The Wall Street Journal: Natural-gas prices fell Monday, ending a string of six straight trading sessions, as revised forecasts left investors with a mixed picture for end-of-winter gas-fired heating demand. The market wavered between gains and losses for much of the day before ending down 0.2% at $1.8190 a million British thermal units on the New York Mercantile Exchange.
