This week started with weaker futures for natural gas. The weaker gas prices took a toll on shares of coal companies such as Patriot Coal (PCX), Alpha Natural (ANR), Arch Coal (ACI), Quicksilver (KWK) and Peabody (BTU), on Monday, with down of 5% or more. Continue reading
Soaring gas prices in the United States are affecting small business owners the most, considering they are entirely dependent on the fossil fuel to transport goods and services to consumers. Truck and car drivers are now scared to visit a gasoline station as frequent, overnight raise in gas prices is a common occurrence. Overall, United States is witnessing a hammering of rising gas prices which jumped to an average of $3.72 a gallon last week, up by 13 cents from the previous week. California observed a trend that is even more higher, at 4.29 a gallon, up by 26 cents from the previous week. Continue reading
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Gas and oil prices soared in US as Iran halted some crude exports. Investors predict that the energy demand will rise as Europe moves closer towards bailing out Greece. Analysts warned that oil speculation might also push prices higher along with the Iranian situation. It is predicted that Iran’s stand would have negligible impact on supplies as only 3% of Iranian oil goes to France and UK has not imported oil from Iran in six months. The real impact of Iran’s s announcement would be on oil prices which in turn would affect gasoline prices worldwide. Continue reading
The Al-Jubail Peterochemical Company (KEMYA), Sabic and Exxon Corp. of the US, established this joint venture plant at Al Jubail Indusrtrial City, Saudi Arabia, to produce low density polyethlene. The ethylene required as feedstock for this project was to be supplied by the Saudi Petrochemical Company (SADAF). The joint venture plant began operations in late 1984.A 1985 photo.(AP photo/fls)
If anyone has really benefited from United States natural gas drilling boom, they are the chemical companies who have long depended on overseas gas sources. As natural gas surplus drives down prices to a 2-year low, chemical companies are making the most of it by reopening closed down plants and building new ones. Continue reading
As a result of dipping temperatures in Europe, the United Kingdom wholesale gas prices have been duly affected, soaring to a nearly six year high on 6th February, 2012. Continue reading
According to the American Automobile Association, Inc. (AAA) Club South reports, the prices on gas are above expectation in January 2012. It has broken more than a decade record, which is being evaluated since 2000. Continue reading
The second leading natural gas producer in the United States, Chesapeake Energy Corp. (CHK), hastened an industry attempt to decrease gas drilling to minimise prices, which depicted that the prices on gas cut down to a record of 10-year in end January 2012. Continue reading
UK is totally dependent on Qatar for its gas supplies. This dependency may create havoc in the upcoming days for UK’s gas market. At present, Iran is threatening to block the strategic Strait of Hormuz waterway, which is essential for the gas exports. However, this is not only the dark cloud looming over the UK gas industry. As opposed to other European nations, Britain has not made long term gas contracts. Of all the gas coming to UK from Qatar, only 24% comes under fixed contracts. This means that the remaining is sold at any time to the highest bidder in the international market by Qatar. Continue reading
Increasing gas price is a nightmare for the public in California. They have to bear stiff affect because of soaring price rise, which is estimated to increase in future. The cost of gas in California is higher than Alaska and even Hawaii, according to the report of AAA (the American Automobile Association, Inc) Southern California. Continue reading
After a series of earthquakes over the past year, including the 4.0 magnitude on Saturday, Ohio officials in wake of public safety have decided to suspend operations at five fluid injection wells for an indefinite period. Continue reading
