The demand for natural gas declines as the winter recedes. According to Energy Information Administration, the storage level of the same recorded above the average of five year.
As against the estimate of reduction of 128 to 132 billion cubic feet by the analysts, the EIA reported a reduction of only 116 billion cubic feet in the past week.
A trend of decline in the future contracts for april delivery could be noticed. Like, natural gas future delined by 3.8% settling at $4.58 per million British thermal units, gasoline future by 0.9%, crude by 0.8% and heating oil by 1%.
Exchange-traded fund U.S. Natural Gas Fund fell by 3.8% whereas U.S. Oil Fund crashed by 0.7%.
As reported by labour departmemt,469000 people filed for initial unemployment benefits in the last week of feb,2010 which was 29000 less than before and their claims reduced by 3500 making it to 469,000. Also, inspite of slashing hours by 1.3%, output in the nonfarm business increase in the second half by 2.5%.
Wall mart inc whose sales target is less than many other big retailers increased it’s dividend by 11% to prove itself strong.
Considering the commodities, dollar became expensive as it rose to 80.551 from 79.956 in North American trading.
With the dollar declining and economy showing positive data, oil futures settled high.
Edward Meir, a senior commodity analyst at MF Global, said that the weaker dollar facilitated energy market to probe the upside.Npower Home Energy offers electricity and gas, boiler installations & boiler repair.
The demand for dollar dominated commodities, like oil, increased as a result of weak dollar. Less demand and abundant supply has led to lower prices in the energy market.
Farming Weather:Farming online offers latest updates on weather in UK. Weather maps with detailed information about weather forecasts in your region.
British Gas Energy Smart tariffs help you reduce your energy bills with various discounts for gas and electricity packages. Get a free electricity meter and monitor you consumption online. Visit www.britishgas-online.co.uk.
Previous Post :Credos publishes it’s annual report to shareholders
Wednesday, May 5, 2010
Credos publishes it’s annual report to shareholders
Credo Petroleum Corporation today published the contents of its annual report containing important information and estimates of the company.
The contents of the report are as under-
Despite of the economic downturn, low energy prices and financial loss in fiscal 2009(2nd time) the company has managed to undertake expansion of its business.
The capital issue of 2008 helped in acreage acquisition and drilling programs set new records of oil production and for the first time in 31 years of company’s history has the revenue of oil exceeded natural gas, the oil revenue being 59% of company’s revenue & the increase being 108%.
This focus on oil has resulted in an increase of 23% in oil reserves which now account for 26% of company’s reserves.
A success rate of approximately 50% is achieved in Central Kansas oil drilling project. The discovery of new field in Barton County, Kansas and acquisition in the North Dakota Bakken has added new dimension to company’s resource.
The successful completion of the first well with initial roduction rate of 1,474 barrels of oil per day paved the way for other nine in the immediate area. The second well is expected to complete in nine months.
As well as save Money On Your Energy Bills With npower Deals
Marlis E. Smith, Jr, a successful "oil man" who has spent his entire life in this industry has been appointed as the CEO. This step has been taken in purview of company’s goal of doubling in not more than 3 to 4 years.
His first report contains his commitment to bring additional capital to be invested in the repeatable and successful exploration model of the company.
Affordable monthly plans by British Gas for boiler maintenance and repair. Opt for the most suited monthly plan for gas boiler repairs. To know more visit www.britishgas-online.co.uk
Previous Post:Met coal market in a boom ,are mergers expected
The contents of the report are as under-
Despite of the economic downturn, low energy prices and financial loss in fiscal 2009(2nd time) the company has managed to undertake expansion of its business.
The capital issue of 2008 helped in acreage acquisition and drilling programs set new records of oil production and for the first time in 31 years of company’s history has the revenue of oil exceeded natural gas, the oil revenue being 59% of company’s revenue & the increase being 108%.
This focus on oil has resulted in an increase of 23% in oil reserves which now account for 26% of company’s reserves.
A success rate of approximately 50% is achieved in Central Kansas oil drilling project. The discovery of new field in Barton County, Kansas and acquisition in the North Dakota Bakken has added new dimension to company’s resource.
The successful completion of the first well with initial roduction rate of 1,474 barrels of oil per day paved the way for other nine in the immediate area. The second well is expected to complete in nine months.
As well as save Money On Your Energy Bills With npower Deals
Marlis E. Smith, Jr, a successful "oil man" who has spent his entire life in this industry has been appointed as the CEO. This step has been taken in purview of company’s goal of doubling in not more than 3 to 4 years.
His first report contains his commitment to bring additional capital to be invested in the repeatable and successful exploration model of the company.
Affordable monthly plans by British Gas for boiler maintenance and repair. Opt for the most suited monthly plan for gas boiler repairs. To know more visit www.britishgas-online.co.uk
Previous Post:Met coal market in a boom ,are mergers expected
Met coal market in a boom ,are mergers expected
Coal occupies the centre place in the energy sector. Thermal coal usage is heading back to the historical norms as the winters boosted it’s demand bringing it par with it’s supply. The use of the energy hasn’t multiplied but for the various reasons the price of coal are adamantly high.
Probably, metallurgical coal required in the production steel has driven the prices of coal. The high demand of coal in the developed countries is expected to bring met coal to a level of $200 if not $300.
Patriot Coal (PCX) recorded a 11% high in past week raining money on the shareholders inspite of the company suffering temporary bolt on its one of the most lucrative & largest mine.
The reason identified was the rumor of merger of PCX to another Appalachian coal company, which spread just because their representatives dint speak to media. Normally in case of mergers, the shares of the company acquiring goes down while the shares of the company acquired booms up. But the peculiarity of this case was that the share prices for both the companies shot up.
Well if this is not rumor and the companies really intend to enter into deal then a three way deal involving CONSOL (CNX) could be helpful. Central Appalachia sets out CONSOL which would send to Massey for cash and small plots of reserves, the Fola and the Buchanan County, Va., mines.
And thus the two giants can divide their assets north and south.
Media could not have got a better story.
It would be good for America if its firms get bigger and bigger in size because to make varieties of steel for infrastructure you need huge amount of met coal.Npower Home Energy offers electricity and gas, boiler installations & boiler repair.
Available on npower online is Go Green, the friendliest initiative towards the use of renewable energy products. Check out the various green offerings on npower online and use them to contribute towards greener earth.
Probably, metallurgical coal required in the production steel has driven the prices of coal. The high demand of coal in the developed countries is expected to bring met coal to a level of $200 if not $300.
Patriot Coal (PCX) recorded a 11% high in past week raining money on the shareholders inspite of the company suffering temporary bolt on its one of the most lucrative & largest mine.
The reason identified was the rumor of merger of PCX to another Appalachian coal company, which spread just because their representatives dint speak to media. Normally in case of mergers, the shares of the company acquiring goes down while the shares of the company acquired booms up. But the peculiarity of this case was that the share prices for both the companies shot up.
Well if this is not rumor and the companies really intend to enter into deal then a three way deal involving CONSOL (CNX) could be helpful. Central Appalachia sets out CONSOL which would send to Massey for cash and small plots of reserves, the Fola and the Buchanan County, Va., mines.
And thus the two giants can divide their assets north and south.
Media could not have got a better story.
It would be good for America if its firms get bigger and bigger in size because to make varieties of steel for infrastructure you need huge amount of met coal.Npower Home Energy offers electricity and gas, boiler installations & boiler repair.
Available on npower online is Go Green, the friendliest initiative towards the use of renewable energy products. Check out the various green offerings on npower online and use them to contribute towards greener earth.
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