Last week was the week for natural gas vehicles (NGV). Among the highlights that put the spotlight on the nascent industry:
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BP Chief’s Comments a ‘Disservice’ to Industry, Says Tillerson
ExxonMobil Corp.’s top gun on Wednesday took a shot at BP plc CEO Bob Dudley’s assertion that the Macondo well blowout in the Gulf of Mexico last April resulted from industry-wide safety lapses.
BP Chief’s Comments a ‘Disservice’ to Industry, Says Tillerson
ExxonMobil Corp.’s top gun on Wednesday took a shot at BP plc CEO Bob Dudley’s assertion that the Macondo well blowout in the Gulf of Mexico last April resulted from industry-wide safety lapses.
BP Halts Leak’s Flow with Temporary Measure
Shares of BP plc shot up 7.57% to close at $38.92 Thursday — the first day since the April 20 Deepwater Horizon rig catastrophe that the company has been able to choke off all of the oil flowing from the ruptured well.
Investors Enthusiastically Support EnCana’s Long-Awaited Split
EnCana Corp.’s share price shot up almost 8% Friday after the company relaunched plans to split into two energy companies, one a North American-focused unconventional natural gas producer, the other an integrated oil company.
EnCana’s Long-Awaited Split a Go
EnCana Corp.’s share price shot up by more than 7.5% by midafternoon Friday after the company relaunched plans to split into two energy companies, one a North American-focused unconventional natural gas producer, the other an integrated oil company.
UNG Fires Back At Critics, Ventures Into Bilateral Nonexchange Swaps
The United States Natural Gas Fund (UNG) shot back on Friday at those who claim the fund has contributed to dramatic swings in U.S. natural gas prices since September 2007. In the process it may have fired a preemptive strike before the Commodities and Futures Trading Commission (CFTC) convenes next week to discuss possible limits on futures positions (see related story; see NGI, July 13a). The fund also took a preventive measure in case the CFTC comes down hard on noncommercial traders. The fund purchased its first ever bilateral, nonexchange traded natural gas swap contract on Friday.
UNG Fires Back At Critics, Ventures Into Bilateral Nonexchange Swaps
The United States Natural Gas Fund (UNG) shot back on Friday at those who claim the fund has contributed to dramatic swings in U.S. natural gas prices since September 2007. In the process it may have fired a preemptive strike before the Commodities and Futures Trading Commission (CFTC) convenes next week to discuss possible limits on futures positions (see Daily GPI, July 22a). The fund also took a preventive measure in case the CFTC comes down hard on noncommercial traders. The fund purchased its first ever bilateral, nonexchange traded natural gas swap contract on Friday.
Futures Fizzle at the Close; August Gains Minuscule 0.1 Cent
Natural gas futures had a good shot at posting another solid gain Friday but by the close of floor trading were barely able to squeak into the plus column. August futures rose by 0.1 cent to $3.669 after trading nearly 12 cents higher and September eked out a 0.3-cent gain to $3.816. All contracts past February 2010 settled lower. August crude oil posted a solid gain of $1.54 to $63.56/bbl.
BG Group Muscles In on Trinidad Gas Play
BG Group plc Thursday fired another warning shot at its North American competition after exercising an option to acquire a bigger stake in a prospective natural gas development offshore Trinidad. BG’s offer preempts a $142.5 million cash offer by Centrica plc.