Page 12 - Intelligence Press News Today

As part of the U.S. Department of Energy's recent distribution of $30 million aimed at advancing the natural gas vehicles (NGV), two separate projects are examining breakthroughs in fueling to make the vehicle operator more independent of public refueling stations.

Gordon Jaremko, Author at Natural Gas Intelligence - Page 40 of 130

Coming in well within industry expectations, the Energy Information Administration (EIA) reported Thursday morning that 162 Bcf was withdrawn from underground stores for the week ended Dec. 23. The report fell on mostly deaf ears within the industry as February natural gas futures worked lower into the afternoon to settle at $11.223, down 41.4 cents from Wednesday's close.

With the heat expected to continue boosting power generation demand through the weekend and futures showing no signs of weakness, the week-long cash market rally pressed on Friday although it lost some steam at some locations in the Northeast, particularly Iroquois Zone 2, which had been one of the hottest points over the course of the week. Iroquois prices were flat in the mid $7.60s, but Dracut and Tennessee Zone 6 added more than 30 cents.

Missouri Gas Energy (MGE) will pay $2,000 to the Missouri public school fund and will implement new procedures under an agreement approved by the Public Service Commission (PSC) to resolve a July staff complaint alleging PSC rules violations in connection with a natural gas explosion and fire in Blue Springs, MO, in January.

BP plc and partner BHP Billiton Ltd. Tuesday began exporting oil and natural gas from their long-delayed Atlantis project in the deepwater Gulf of Mexico (GOM).

After recording a high of $7.550 earlier in the session Friday, March natural gas futures took a plunge late in the session on a run of selling, recording a low of $6.900 before going off the board at $7.112, down 34.6 cents on the day and 7 cents lower than the previous Friday's close. Taking over as prompt month over the weekend, the April contract on Friday closed 23 cents lower at $7.313.

The Conference on Death, Grief and Belief

U.S. Rep. Diana DeGette (D-CO) plans to reintroduce a broad wilderness bill next week that would bar oil and natural gas drilling on a large portion of the Roan Plateau in western Colorado.

Natural gas still stands out as Alberta's revenue star, but the provincial government expects it to fade gradually despite royalty increases as aging production naturally subsides and sales competition grows in international markets.