Developments

Despite the shale revolution in North America transforming global energy dynamics, the United States is unlikely to disengage completely from the Persian Gulf because other nations still depend on the region and it will still affect the world’s oil prices, according to a draft report presented to the North Atlantic Treaty Organization (NATO).

The U.S. Department of Energy (DOE) apparently has come to the conclusion that U.S. shale gas is too good a thing to not share with the rest of the world in larger quantities.

Physical natural gas prices on average fell a penny in Tuesday’s trading as a weak screen, soft power market and lack of weather developments kept buyers and sellers from needing to pursue much in the way of incremental volumes. Most major trading hubs were down a few pennies, and in the Northeast quotes were mostly balanced on either side of unchanged. The East was unchanged to a penny or two lower, and at the close of futures trading June was down 9.1 cents to $3.920 and July had fallen 9.0 cents to $3.974. June crude oil slumped 54 cents to $95.62/bbl.

The continuing shale gas boom is having a “massive impact” on the U.S. energy market, particularly a revival for various smart grid developments, according to a report released by IMS Research, a unit of the global research/consulting firm IHS.

The continuing shale gas boom is having a “massive impact” on the U.S. energy market, particularly a revival for various smart grid developments, according to a report released by IMS Research, a unit of the global research/consulting firm IHS.

Natural gas for transportation continues to branch out, with developments in both compressed natural gas (CNG) and liquefied natural gas (LNG) options.

Newfield Exploration Co. is considering the sale of its international assets, which consist of offshore oil and natural gas developments in Malaysia and China, the company said.

Newfield Exploration Co. is considering the sale of its international assets, which consist of offshore oil and natural gas developments in Malaysia and China, the company said.

Riding high on record profits and continuing efficiencies, the contract drilling sector nevertheless faces uncertainties during the first half of next year that require patience and flexibility, said the CEO of Tulsa-based Helmerich & Payne Inc. (HP).