Declined

The profile of investor-owned companies (IOC) relative to their national oil company (NOC) peers has declined over the last 40 years as NOCs have taken greater control of their home territories and have made significant inroads into the international arena, according to a report by IHS Cambridge Energy Research Associates (IHS CERA) done in conjunction with Deloitte.

The profile of investor-owned companies (IOC) relative to their national oil company (NOC) peers has declined over the last 40 years as NOCs have taken greater control of their home territories and have made significant inroads into the international arena, according to a report by IHS Cambridge Energy Research Associates (IHS CERA) done in conjunction with Deloitte.

Prices declined by major amounts Tuesday as Tropical Storm Alex refused to become a hurricane and appeared determined to make landfall in northeastern Mexico, well clear of the Gulf of Mexico (GOM) production area. Also, heat levels, while still fairly warm in the southern U.S., had receded to some extent since last week.

Natural gas futures on Friday declined for the fourth consecutive session as the June contract shaved another 7.1 cents to $4.035. For the week the prompt-month contract dropped 27.7 cents, or 6% of its value.

Greenhouse gas (GHG) emissions from the domestic oil and natural gas industry declined by more than 48 million metric tons of carbon dioxide equivalent in 2007 and 2008, a reduction comparable to taking 9.7 million cars off the roads, according to the results of a new study sponsored by the American Petroleum Institute (API).

Greenhouse gas (GHG) emissions from the domestic oil and natural gas industry declined by more than 48 million metric tons of carbon dioxide equivalent in 2007 and 2008, a reduction comparable to taking 9.7 million cars off the roads, according to the results of a new study sponsored by the American Petroleum Institute (API).

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.

The natural gas futures market sent mixed signals Tuesday as the April contract failed to record a new low for the larger down move, but still declined overall for the day. The prompt-month contract put in a low of $4.476 before finishing out Tuesday’s regular session at $4.516, down 1.1 cents from Monday’s close.

April natural gas futures declined in active inventory-report driven trading Thursday. Short-term traders were quick to cite the end of winter as the near-term market driver and discounted the release of inventory data by the Energy Information Administration (EIA). Longer term, analysts suggest that the market has limited downside potential. At the close April futures fell 9.2 cents to $4.767 and May slid 9.6 cents to $4.831. April crude oil shed $1.83 to $78.17/bbl.