The shale natural gas market in North America is helping to revamp the U.S. chemicals industry and may benefit a variety of other manufacturing sectors through lower costs for raw materials and energy, according to a report issued on Tuesday by PwC US.
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Articles from Sector
E&P ‘Apathy’ Seen Eroding Onshore Activity Levels
The North America oilfield services market “eroded more than we thought” in 3Q2012, but the spending decline could turn in January, said the research team at Tudor, Pickering, Holt & Co. (TPH).
Canaccord Genuity: ‘Fundamentals in Place’ For $4 Gas
Robust demand from the power generation sector has helped to rebalance the natural gas market and fundamentals are in place for prices to increase to “at least $4[/Mcf] this winter,” according to Canaccord Genuity analyst John Gerdes.
Canaccord Genuity: ‘Fundamentals in Place’ For $4 Gas
Robust demand from the power generation sector has helped to rebalance the natural gas market and fundamentals are in place for prices to increase to “at least $4[/Mcf] this winter,” according to Canaccord Genuity analyst John Gerdes.
State Regulators Join San Francisco, PG&E Pipe Fray
A standoff between the city of San Francisco and its major private-sector utility, Pacific Gas and Electric Co. (PG&E), which is preventing the last few miles of outdated cast iron natural gas pipelines in the city from being replaced, has caused state regulators to enter the dispute.
CPUC Adds Muscle to San Francisco, PG&E Fight
A standoff between the city of San Francisco and its major private-sector utility, Pacific Gas and Electric Co. (PG&E), that is preventing the last few miles of outdated cast iron gas pipelines in the city from being replaced has caused state regulators to enter the dispute.
Devon Takes Sumitomo as Partner in Permian Basin Shales
Japan’s Sumitomo Corp. agreed Wednesday to pay Devon Corp. $1.4 billion for a 30% stake in 650,000 net acres in the Permian Basin’s Cline and Midland-Wolfcamp shales.
Industry Brief
Oregon regulators extended for another 12 months the same portfolio of retail energy options for private-sector natural gas and electric utility customers throughout the state. The Oregon Public Utility Commission (PUC) followed the recommendation of a third-party options committee in letting stand current programs for residential and nonresidential customers of NW Natural, PacifiCorp and Portland General Electric Co. The programs are designed to give utility customers options for supporting alternative energy development. Customers will continue to be able to voluntarily participate in NW Natural’s greenhouse gas emissions offset program and the two electric utilities’ offers for time-of-use, green source and wind power sources.
Industry Brief
The cash-strapped state park system in Colorado is considering using its nonprofit foundation to bring in more private-sector funds, which include allowing more oil and natural gas drilling in some of the state parks, such as the drilling currently taking place at one state park, St. Vrain, near Longmont, CO. A series of public meetings around the state has been set to kick off Thursday in Grand Junction and continue in Colorado Springs (July 24), Fort Collins (July 31) and Denver (Aug. 8). Colorado Parks and Wildlife officials are considering corporate sponsorships and/or more oil and gas drilling in state parks to cope with budget cuts, according to reports this month in various news media around the state. Assistant Director Ken Brink told local news media that park visitors do not want state parks named after corporations, or more oil/gas drilling in the parks, but the officials say they may have no choice. There are 42 state parks in Colorado that now are forced to develop all of their revenues through user fees.
Patriot Coal Files for Bankruptcy Protection
In a sign of coal’s weakening dominance in the power sector, Patriot Coal Corp. and nearly 100 of its affiliates on Monday filed for Chapter 11 protection in U.S. Bankruptcy Court in New York City.