The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.
Prepare
Articles from Prepare
Shell Expects U.S. LNG Imports to Grow
The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.
Futures Rebound as Traders Prepare for Fresh Storage Data
After tumbling through the first 90 minutes of trading, natural gas futures battled back Wednesday afternoon as locals traders had their way with the market for the second session in a row. With only 91,061 contracts changing hands, volume was relatively light considering the yo-yoing price action. In its first back-to-back daily advance since mid-October, the December contract closed at $3.877, up 0.5 cents for the session.
Ameren Work Force May Be Cut by 14%
In an effort to prepare for continuing weak power markets and a soft economy, St. Louis-based Ameren Corp. announced a voluntary retirement program that potentially could reduce its work force by 14%, or about 1,000 of Ameren’s 7,400 current employees. The voluntary program could be followed by an involuntary program if the voluntary retirement program isn’t enough to produce expected cost cuts and efficiencies, Ameren said.
Ameren Work Force May Be Cut by 14%
In an effort to prepare for continuing weak power markets and a soft economy, St. Louis-based Ameren Corp. announced a voluntary retirement program that potentially could reduce its work force by 14%, or about 1,000 of Ameren’s 7,400 current employees. The voluntary program could be followed by an involuntary program if the voluntary retirement program isn’t enough to produce expected cost cuts and efficiencies, Ameren said.
NYMEX, CME Prepare to Introduce ‘E-mini’ Futures
The New York Mercantile Exchange announced last week it had reached an agreement with the Chicago Mercantile Exchange (CME) to offer newly created “E-mini” versions of key Nymex energy futures contracts for trading on CME’s GLOBEX electronic trading platform and clearing at the Nymex clearinghouse. It is possible Nymex also will put some of its proposed OTC products on GLOBEX as well.
Anadarko, Apache Rise in 2Q, But Shortfall Expected
Apparently in a move to prepare for expected downturns through the remainder of the year, Houston-based Anadarko Petroleum Corp.’s CEO said Thursday that the independent would shift some of its spending from onshore natural gas projects in the Lower 48 to “more profitable opportunities in the Gulf of Mexico and Canada.” Second quarter earnings, however, jumped on higher natural gas prices and increased production, mostly from acquisitions. Across town, rival independent Apache Corp. also had a stellar quarter, with earnings up 73%, also related to strategic acquisitions.
MMS Seeks Comments on 5-Year Plan
The Minerals Management Service (MMS) is starting to prepare fora new five-year Outer Continental Shelf oil and gas leasing programto run from 2002-2007. The agency has asked for input frominterested and affected parties.
Westcoast, Coastal Split Engage Energy Assets
To prepare for El Paso Energy’s looming takeover of Coastal Corp., Westcoast Energy Inc. and Coastal last week split up Engage Energy, their three-year-old marketing venture, with each retaining a half interest in the Houston-based gas marketer.
Westcoast, Coastal Split Engage Energy Assets
To prepare for El Paso Energy’s looming takeover of CoastalCorp., Westcoast Energy Inc. and Coastal are splitting up EngageEnergy, their three-year-old marketing venture, with each retaininga half interest in the Houston-based gas marketer. The split shouldbe completed by the end of the week.