The U.S. Energy Information Administration (EIA) has added natural gas and petroleum time-series data to its application programming interface (API), a tool the agency said “is ideal for software developers working in government, research, or the energy sector who are looking to design applications for the web or for mobile and tablet devices.” The API is currently released as a beta product.
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The credit rating for PG&E Corp. and utility subsidiary Pacific Gas & Electric Co. face a “one-in-three probability” for weaker business and financial profiles over the coming year related to the San Bruno, CA natural gas pipeline explosion, according to Standard & Poor’s Ratings Services (S&P).
Natural gas prices for physical delivery Friday on average were unchanged in Thursday’s trading. Factor out the extreme low prices at just a couple of Marcellus points burdened by a lack of infrastructure and the physical market on average gained a couple of pennies.
The Western Gulf of Mexico (GOM) Lease Sale 233, which offered for bid 20.7 million acres offshore Texas, yielded fewer offers and lower total high bids than in the past, with 12 operators making 61 offers for 53 blocks that covered just more than 300,000 acres, Bureau of Ocean Energy Management (BOEM) officials said Wednesday.
Natural gas deliveries for Thursday added 4 cents on average nationally in Wednesday’s trading, with ongoing warm temperatures in the Midwest keeping buyers busy and next-day deliveries up by a nickel or more.
Emex LLC, which has had “amazing success” with its natural gas reverse auction online platform in New Jersey, has launched the service in Illinois, the Houston-based company said Tuesday. Theplatformservices the Northern Illinois Gas, Peoples Gas and North Shore Gas utility service territories, Emex said.
Natural gas prices for Wednesday delivery overall averaged 4 cents lower in Tuesday’s trading. Nearly all points posted modest declines, and at eastern points, soft power pricing gave traders little incentive to make aggressive next-day gas buys.
Physical natural gas prices overall on average added 10 cents Monday as strength at eastern market points along with surging prices at Marcellus locations paced a broad advance. Midcontinent locations were also firm, but all points made gains. At the close of futures trading September had added 2.8 cents to $3.513 and October was higher by 3.2 cents to $3.553. October crude oil fell 50 cents to $105.92/bbl.
Robust production out of the Marcellus Shale is weighing on prices, causing Bank of America (BofA) analysts to doubt the staying power of their fourth quarter and 2014 price forecasts and prompting Bernstein Research to cut its 2013 forecast by 25 cents.
Weekend and Monday deliveries of physical natural gas overall on average were 4 cents lower in Friday’s trading for weekend and Monday delivery. Thursday’s screen strength was unable to resonate in the physical market largely as the result of moderating weekend weather forecasts.