Developed

A 5.4-cent rise in May futures on the previous Friday was abetted by moderately chillier weather that developed over the weekend and the return of industrial demand from its typical weekend hiatus in causing prices to range from flat to about a dime higher at nearly all points Monday.

Devon Energy Corp., which last year began restructuring its operations to focus on North American onshore operations, Thursday agreed to sell all of its deepwater Gulf of Mexico (GOM), Brazil and Azerbaijan assets to London’s BP plc for $7 billion.

Devon Energy Corp., which last year began restructuring its operations to focus on North American onshore operations, Thursday agreed to sell all of its deepwater Gulf of Mexico (GOM), Brazil and Azerbaijan assets to London’s BP plc for $7 billion.

The speed with which advanced energy technologies are developed and adopted will be the single most important factor in determining how quickly and at what cost greenhouse gas (GHG) emissions can be reduced, according to a report issued last week by the U.S. Chamber of Commerce’s Institute for 21st Century Energy. But the prospect of an effective international climate change deal coming out of the United Nations (UN) Climate Change Conference, which is scheduled for early December in Copenhagen, Denmark, “is not very bright,” the report concludes.

The speed with which advanced energy technologies are developed and adopted will be the single most important factor in determining how quickly and at what cost greenhouse gas (GHG) emissions can be reduced, according to a report issued Thursday by the U.S. Chamber of Commerce’s Institute for 21st Century Energy. But the prospect of an effective international climate change deal coming out of the United Nations (UN) Climate Change Conference, which is scheduled for early December in Copenhagen, Denmark, “is not very bright,” the report concludes.

The price level wholesale natural gas settles into could have an impact on the mix of renewable-based electric generation developed in the future, a panel of utility industry top executives said last Tuesday at the Bank of America Merrill Lynch Power & Gas Leaders Conference in New York City. Wind can be the most price-competitive, and solar is the most costly right now, the executives said.

The price level wholesale natural gas settles into could have an impact on the mix of renewable-based electric generation developed in the future, a panel of utility industry top executives said Tuesday at the Bank of America Merrill Lynch Power & Gas Leaders Conference in New York City. Wind can be the most price-competitive, and solar is the most costly right now, the executives said.

A breakthrough borehole imaging system developed by Technology International Inc. may push the limits of “seismic-while-drilling” technology to enable producers to more easily find natural gas and oil reserves, the Department of Energy (DOE) said Wednesday.

A wind shear environment unfavorable to hurricane development across the tropical Atlantic, which is being driven by a recently developed El Nino event in the tropical Pacific, has prompted Andover, MA-based WSI Corp. to further reduce the number of hurricanes it expects to form during the 2009 Atlantic hurricane season. WSI also said cooler-than-normal temperatures will remain in place over much of the eastern United States for the next three months, while above-average temperatures will continue to dominate the West.