Rising

Under increasing pressure from Congress to tame rising energy prices, Commodity Futures Trading Commission (CFTC) regulators told a Senate committee last Wednesday that the agency needs significantly more funds and staff members to carry out its mission.

Under increasing pressure from Congress to tame rising energy prices, Commodity Futures Trading Commission (CFTC) regulators told a Senate committee Wednesday that the agency needs significantly more funds and staff members to carry out its mission.

Sparked by increased production levels and rising commodity prices, Occidental Petroleum Corp. (Oxy) posted record net income of $1.846 billion ($2.23/share) for the first quarter of 2008, a 52% spike over the $1.212 billion ($1.43/share) recorded during the first quarter of 2007.

Sparked by increased production levels and rising commodity prices, Occidental Petroleum Corp. (Oxy) posted record net income of $1.846 billion ($2.23/share) for the first quarter of 2008, a 52% spike over the $1.212 billion ($1.43/share) recorded during the first quarter of 2007.

A day after a mostly rising cash market ignored general weakness in weather fundamentals, most points were down Wednesday in recognition of the dearth of weather-based support, even though cooling load was forecast to be growing a bit in some areas Thursday. The overall physical market also failed to get a boost in value from Tuesday’s second straight day of a 15.2-cent futures advance.

Rising global demand for natural gas and steep decline rates in many fields mean the industry needs to drill more, Schlumberger CEO Andrew Gould told a New Orleans audience last week. Other challenges facing exploration and production companies include growing resource nationalism by national oil companies and a crippling shortage of skilled workers, particularly engineers, he said.

Rising global demand for natural gas and steep decline rates in many fields mean the industry needs to drill more, Schlumberger CEO Andrew Gould told a New Orleans audience Monday. Other challenges facing exploration and production companies include growing resource nationalism by national oil companies and a crippling shortage of skilled workers, particularly engineers, he said.

MarkWest Energy Partners LP subsidiary MarkWest Pioneer LLC said late last week that rising natural gas production in Oklahoma has led the company to hold a binding open season through April 21 to solicit shipper commitments for firm year-round transportation service on its proposed Arkoma Connector Pipeline.

MarkWest Energy Partners LP subsidiary MarkWest Pioneer LLC said Thursday that rising natural gas production in Oklahoma has led the company to hold a binding open season through April 21 to solicit shipper commitments for firm year-round transportation service on its proposed Arkoma Connector Pipeline.