Market News

First Use of Natural Gas to Power Equipment ford Hydraulic Fracturing in Northeastern Pennsylvania

Source: PR Newswire 5/20/13


SUSQUEHANNA COUNTY, Pa., May 20, 2013 /PR Newswire/ - Cabot Oil & Gas- Corporation (NYSE: COG) announces the use of Marcellus Shale natural gas to fracture wells via innovative dual fuel technology. This marks the first time 'field' gas has been used in northeastern Pennsylvania for this purpose. The process of using clean-burning natural gas can displace up to 70 percent of the diesel fuel traditionally used to operate fracturing equipment. This successful effort was a partnership with FTS International (FTSI) and Caterpillar Global Petroleum (NYSE: CAT).

Use of dual fuel technology, where the engines operate on a mixture of natural gas and a small portion of diesel, provides several benefits: Read more...

Global oil prices unlikely to fall below $100/b until 2025: Lukoil

Moscow (Platts)--18 June 2013

Global oil prices are unlikely to drop below $100/b until 2025, supported by OPEC's market management efforts and crude demand growth in Asia, Leonid Fedun, vice president of Lukoil said Tuesday, presenting key findings of the company's first public long-term global industry outlook.

"Under our estimates, prices aren't going to drop below $100/b, with the [oil pricing] dynamics to be determined by three factors...softening or hardening of the [US monetary] policies...growing demand [for crude] in Asia and, in the longer term, African markets, and OPEC's stabilization efforts," Fedun said in an interview with Russia's Business FM radio station.

The so-called shale boom in North America is unlikely to have a visible downward effect on oil prices, according to Lukoil's outlook, Fedun said. Read more...

Airbus breaks ground for first U.S. assembly line in Alabama


MOBILE, Alabama — As community leaders, elected officials, suppliers, construction officials and more spoke at the Airbus groundbreaking for the company’s first U.S. final assembly line (FAL) this morning, each concluded their remarks with the same theme: “It is a groundbreaking day.”

It is a groundbreaking day for Airbus as it expands its global footprint into North America. It is a groundbreaking day for Alabama’s gulf coast and Mobile Brookley Aeroplex, which will see 1,000 new jobs from the plant. And, it is a groundbreaking day for the state of Alabama, which is quickly becoming a center for aviation industry activity in the United States. Read more...

Why Is Gas Price Remaining High When Oil Price Is Going Down?


Logic would seem to dictate that if oil prices are going down, the price of gasoline should follow suit and go down also.
However the opposite has been observed lately. Of course as is the case in any fluctuation of oil prices, there is a range of reasons responsible for this.
So why exactly is the price of oil dropping whilst the price of gasoline at the pump is remaining high ?

Large US strategic petroleum reserves

A sluggish economy, and hence slow economic recovery has meant that there is low demand for oil. Many blame Obama's austerity measures for this.

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