Natural Gas

Duke says gas-fired units less costly


The final cost of a natural gas-fired combined cycle unit installed at the Sutton Plant by Duke Energy Progress in North Carolina came in lower than expected, at $551 million or approximately $882 per kilowatt of installed capacity, Platts reports.

Gas explosion behind oil plant in northern Mexico kills 5

MONTERREY, Mexico (AP) — Authorities say a gas pipeline explosion and subsequent fire behind a plant run in northern Mexico by the state oil company known as Pemex has killed at least five people.

Jorge Camacho Rincon, civil defense director for the northern state of Nuevo Leon, says that emergency workers found the five bodies after the fire was controlled. The dead were not immediately identified.

Ruble weakness boosts Gazprom profit


Russian giant Gazprom’s quarterly results showing a 71 percent rise in net profit beat analysts’ expectations even though it was affected by the declining value of the ruble, Reuters reports.


U.S. rig count up 10 to 884, oil rigs increase by 6

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 10 this week to 884, according to oilfield services company Baker Hughes Inc.

Houston-based Baker Hughes said Friday 670 rigs were seeking oil -- an increase of six compared to the previous week -- and 213 explored for natural gas. One was listed as miscellaneous. A year ago, 1,908 rigs were active.

Icahn takes 8.2-percent stake in Cheniere Energy

NEW YORK (AP) — Billionaire investor Carl Icahn is taking an 8.2-percent stake in liquid natural gas company Cheniere Energy Inc., sending its shares higher in aftermarket trading.

Icahn disclosed ownership of 19.4 million shares of Cheniere, which owns a liquid natural gas terminal and pipeline in Louisiana. Icahn's funds say they want to start talks with the company about its business, financing of capital spending and executive compensation, and Icahn may seek representation on the board of directors.

US raises concerns about pipeline through forests

RICHMOND, Va. (AP) — The U.S. Forest Service has raised hundreds of concerns about a proposed natural gas pipeline that would carve a 30-mile swath through national forests in Virginia and West Virginia.

The written comments to federal regulators question why the proposed route of the Atlantic Coast Pipeline has to go through the George Washington and Monongahela national forests and raises similar worries cited by residents along the path of the 550-mile energy project.


Fire sale on stuff that burns: Oil, natural gas, coal down

NEW YORK (AP) — These days it seems whatever can be burned to power a car, heat a home, make electricity or ship people and goods around the globe is being sold at bargain basement prices.

Prices for coal, natural gas, oil and the fuels made from crude such as gasoline and diesel are all far less expensive than they have been in recent years.


US oil rig count up, but total rigs down 2 to 874

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. But the total number of rigs drilling for oil is actually up.

Houston-based Baker Hughes said Friday 664 rigs were seeking oil—a rise of five since last week—and 209 explored for natural gas—down seven. One was listed as miscellaneous. A year ago, 1,889 rigs were active.

Post-sanctions Iran may interest Shell for gas


Royal Dutch Shell might look to get involved in gas projects in Iran once sanctions are lifted in the wake of the nuclear agreement Tehran reached with global powers, according to Chief Financial Officer Simon Henry, Platts reports.

Siemens net profit flat after restructuring charges

FRANKFURT, Germany (AP) — Germany's Siemens AG says net profit fell slightly in the most recent quarter as better earnings from sales of medical equipment were offset by slower business at its power and gas division.

Profits for the April-June quarter were also hurt by 274 million euros ($301 million) in severance charges as the maker of gas turbines, trains and other heavy equipment streamlined to cut costs.


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