Natural Gas

Accelerating natgas pipeline replacement would provide boost


At the current rate of work, it would take 30 years to repair and replace utilities’ aging natural gas pipelines around the country, but compressing that to 10 years would create more than 300,000 jobs and slash methane emissions, according to a report from the BlueGreen Alliance, FuelFix reports.

Sales climb but profits drop in 2Q for Noble Energy


A 20 percent increase in revenue for Noble Energy in the second quarter on higher shale production wasn’t enough to sustain last year's profits, which fell 49 percent compared to the year-ago period, to $192 million, FuelFix reports, noting the company dropped $187 million on commodity derivatives.

Breitburn buying QR Energy in $1.46 billion deal

HOUSTON (AP) — Breitburn Energy is buying QR Energy LP in a deal worth about $1.46 billion.

QR unitholders will receive approximately 72 million common units of Breitburn Energy Partners LP, or 0.9856 of a Breitburn unit, for each unit of QR Energy that they own. The consideration to be received by QR unitholders is valued at $22.48 per unit, a 19 percent premium to Wednesday's closing price of $18.87.

Shares of Houston's QR Energy were up more than 8 percent Thursday in premarket trading.

Japan record $75B trade deficit in 1st half; LNG, oil imports increase

TOKYO (AP) — Japan's trade deficit surged to a record 7.6 trillion yen ($74.9 billion) in the first half of the year as exports failed to keep pace with surging imports, the Finance Ministry reported Thursday.

Japan's bulging import bill was partly due to a jump in demand as businesses and consumers stepped up purchases ahead of an April 1 increase in the sales tax to 8 percent from 5 percent.

Imports for the six months jumped 10 percent to 42.6 trillion yen ($420 billion) while exports rose 3.2 percent to 35.1 trillion yen ($346 billion), the preliminary data show.

Expectations low despite NC efforts to woo natural gas drillers


Despite the concerted efforts of North Carolina lawmakers to create a legal framework to get fracking going, low estimates of the state’s gas reserves mean expectations are “not that high” for attracting the interest of drillers, Mining and Energy Commission Chairman James Womack told E&E.

Cameron LNG project gets challenge from environmentalists


Federal Energy Regulatory Commission approval for construction of LNG export facilities in Cameron Parish, Louisiana is being challenged by groups including the Sierra Club, which are asking the FERC for more environmental analysis, Platts reports.

Pennsylvania DEP can’t handle fracking boom, says state auditor


On the downside of Pennsylvania’s gas drilling boom, an understaffed, unprepared Department of Environmental Protection has failed to follow up on reports of contamination, hasn’t forced drillers to deal with tainted water, and has used an inspection policy that’s a quarter of a century old, according to a report from the state’s Auditor General Eugene DePasquale, Bloomberg reports.

Alaska LNG project files for export license from DOE


Just weeks after signing a joint venture agreement, partners working on a natural gas project on Alaska’s North Slope have filed with the Department of Energy for an export license that would give them permission to send up to 20 million metric tons of LNG a year to countries with and without free trade agreements with the U.S., Platts reports.


Oil prices jump above $104; natural gas sinks

The price of oil rose more than a $1 for the third time in the last four trading days, and closed above $104 for the first time since July 3.

Benchmark U.S. crude for August delivery rose $1.46 to $104.59 on the New York Mercantile Exchange. On Friday, the Nymex contract fell 6 cents to $103.13. Oil has gained 4.6 percent over the past four trading sessions.

Brent crude for September delivery, a benchmark for international oils, gained 44 cents to $107.68 on the ICE exchange in London.

Syrian gas field target for deadly fight

The Wall Street Journal

A battle over the control of gas production east of Homs has claimed more than a hundred lives over two days, opposition activists and government-aligned media in Syria said, The Wall Street Journal reports.


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