Hurt

“Although we have some exposure to commodity prices, we believe we have the opportunity to achieve the upper end of the range by continuing our track record of growth and cost containment, while also prudently managing our risk,” said CEO Robert Catell.

Growing natural gas supply, combined with weak demand, is sustaining gas-price weakness, which may in turn lead to increased pressure on exploration and production (E&P) shares, according to energy analysts, who have warned that without a major event before the next heating season — such as a hurricane in the Gulf of Mexico — natural gas prices will remain low for several months.

Growing natural gas supply, combined with weak demand, is sustaining gas-price weakness, which may in turn lead to increased pressure on exploration and production (E&P) shares, according to energy analysts, who warned this week that without a major event before the next heating season — such as a hurricane in the Gulf of Mexico — natural gas prices will remain low for several months.

Royal Dutch/Shell Group’s new Chairman Phil Watts, who assumed the post at the world’s second largest energy company July 1, said the company’s production goals through the rest of 2001 will be met, but admitted that its future expansion could slow because of the sagging world economy. Watts, who inherited a company that has been knocked back in several takeover attempts recently, nonetheless noted recently that natural gas “is plainly the fuel of the future and we are well placed to be part of that future.”

Royal Dutch/Shell Group’s new Chairman Phil Watts, who assumed the post at the world’s second largest energy company July 1, said the company’s production goals through the rest of 2001 will be met, but admitted that its future expansion could slow because of the sagging world economy. Watts, who inherited a company that has been knocked back in several takeover attempts recently, nonetheless noted Thursday that natural gas “is plainly the fuel of the future and we are well placed to be part of that future.”

Higher commodity prices and greater production lifted several of the majors as they released second quarter earnings last week. Exxon Mobil Corp. and Chevron Corp., the number one and two energy companies in the world, posted uneven profits, with Exxon up a modest 5% in both natural gas and refining operations earnings, while Chevron’s jumped 21%. Meanwhile, the rest of the leader board, including Conoco Inc., USX-Marathon, Texaco and Phillips Petroleum, all posted sky-high earnings for the quarter, but are heeding analysts’ warnings that going forward, it will be difficult to continue soaring if oil and natural gas prices remain depressed.

Exxon Mobil Corp. and Chevron Corp., the number one and two energy companies in the world, both posted record profits in their second quarter earnings, but analysts warned that going forward, it will be difficult for the energy companies to continue soaring if oil and natural gas prices remain depressed. Exxon, the largest publicly traded company, saw earnings up 5.5% in both natural gas and refining operations, while Chevron’s jumped 21%.

Importing natural gas into Texas? Could the possibility evenexist? Unless the state’s oil patch has a revival in the nextcouple of years, a new study predicts that Texas soon will beconsuming more gas than it produces, pumping up the possibility oftransporting gas into the state that has long boasted its status asthe energy capital of the country.

Importing natural gas into Texas? Could the possibility evenexist? Unless the state’s oil patch has a revival in the nextcouple of years, a new study predicts that Texas soon will beconsuming more gas than it produces, pumping up the possibility oftransporting gas into the state that has long boasted its status asthe energy capital of the country.