A brief overview of gas price developments, supply and demand and significant market movers.
Articles Tagged "NYSE:STO"
Reuters reported that in 2013 Norway's Statoil plans to drill nine exploration wells in the Barents Sea in an attempt to discover more finds like the Skrugard and Havis oilfields.
Statoil (NYSE:STO) announced its results for the first quarter of 2012.
East Africa is proving to be an enticing market opportunity for natural gas explorers hoping to take advantage of future market upswings.
Although overshadowed by the Alberta oil sands, offshore drilling on Canada’s east coast holds some interesting prospects.
Total began searching for a new joint venture partner to take a share of a shale gas exploration permit in France. The zone covered by the French permit obtained in March 2010, could contain up to 2,380 billion cubic meters of gas, this amount estimated by multiplying the average gas level in the area by the surface area.
International Energy Agency last week indicated that “three digit oil prices risk damaging” the economic recovery, offering a message that OPEC should raise output; however, OPEC responded the same day by saying that global supplies are sufficient to meet demand.
China has an enormous gas market to be filled, both in the short term and long term, where natural gas will account for as much as 12 percent of the primary energy needs over the next decade from the current 3.8 percent. Shell's Chief Financial Officer Simon Henry indicated that the company may invest $1 billion each year in China if PetroChina's two wells in Sichuan province prove they have the potential for commercial gas production.