Uncertain

Reform of the three-decades-old Endangered Species Act (ESA), which has proved to be a major headache for oil and natural gas producers and pipelines over the years, faces an uncertain future in a Democratic Congress, but some proponents remain upbeat.

House Government Reform Committee officials last Tuesday let the Interior Department know in no uncertain terms that the agency’s decision not to recoup billions of dollars in back royalties on oil and natural gas production from the flawed 1998 and 1999 deepwater leases was unacceptable.

House Government Reform Committee officials Tuesday let the Interior Department know in no uncertain terms that the agency’s decision not to recoup billions of dollars in back royalties on oil and natural gas production from the flawed 1998 and 1999 deepwater leases was unacceptable.

Despite the drilling progress that has been made and the liquefied natural gas (LNG) import terminals that have been planned, the gas supply picture remains uncertain, and over the next few years natural gas markets can expect continued price volatility, speakers at GasMart 2006 said Thursday. LNG supply will remain tight until the end of the decade, and Gulf of Mexico, unconventional onshore and LNG resources all will be needed to meet growing industrial and power generation demand.

With California policymakers and businesses uncertain what to do about record high natural gas prices, the National Association of Manufacturers (NAM) said it will seek relief from House Resources Committee Chairman Richard Pombo (R-CA) who is trying to get drilling reopened offshore California and in the eastern Gulf of Mexico, using the upcoming budget reconciliation bill process as a vehicle.

With Hurricane Rita’s path still uncertain, the New York Mercantile Exchange Inc. (Nymex) said Thursday afternoon it will extend trading hours on Sunday, Sept. 25 in order to give its members more flexibility. The extension is only for Nymex Access electronic trading, Nymex ClearPort electronic trading and clearing, and Nymex miNY futures contracts traded on the Chicago Mercantile Exchange GLOBEX trading system.

As demand continues to be strong but conventional production stays flat and northern supplies remain uncertain, Canadian authorities are betting that liquefied natural gas import terminals proposed for re-exports to the United States will make it into construction.

As demand continues to be strong but conventional production stays flat and northern supplies remain uncertain, Canadian authorities are betting that liquefied natural gas import terminals proposed for re-exports to the United States will make it into construction.

Passing without much fanfare, the release of the Energy Information Administration’s natural gas storage report was no match for changing forecasts for Hurricane Ivan’s path. The National Hurricane Center has sharply altered its path projections for the category four hurricane at least three times.