Archive | Natural Gas

Not All Solar Power Plants Totally 'green'

LAS VEGAS, April 26 (UPI) — Not all solar thermal power plants, touted for their environmental benefits, are pollution-free because they also use other fuels, U.S. experts note.

Solar thermal plants are expected to sprout up across the sunny U.S. Southwest as the nation looks for so-called green energy alternatives. But the Las Vegas Sun reported Monday some of the solar plants are designed to use natural gas or propane boilers to jump-start the units each day, releasing greenhouse gases.

While the solar plants would produce only a small fraction of the carbon monoxide, nitrogen oxide and particulates natural gas-fired power plants produce, the amounts would add up for a region in which no fossil-fuel plants are planned, the Sun said.

About 60 solar power projects are on the drawing boards for federal land in southern Nevada, though U.S. Bureau of Land Management records don’t indicate which would use boilers. The Sun said 32 are identified as either solar thermal or concentrating solar power, which includes both solar thermal and advanced solar photovoltaic technologies.

The newspaper said the U.S. Environmental Protection Agency says the impact of a large number of solar thermal power plants on the region can’t be determined since different technologies are used. But some environmental activists in the state stated concern that southern Nevada’s air quality could get worse, the Sun said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Natural Gas Found in Levant Basin Province

RESTON, Va., April 12 (UPI) — U.S. geologists say approximately 122 trillion cubic feet of undiscovered natural gas is in the Levant Basin province in the Eastern Mediterranean region.

The U.S. Geological Survey says the gas is “technically recoverable,” meaning it is available using current technology and industry practices.

The assessment is the first USGS survey of the basin to identify potentially extractable resources, officials said.

“The Levant Basin province is comparable to some of the other large provinces around the world and its gas resources are bigger than anything we have assessed in the United States,” said USGS Energy Resources Program Coordinator Brenda Pierce. “This assessment furthers our understanding of the world’s energy potential, helping inform policy- and decision-makers in making decisions about future energy supplies.”

The USGS said it conducted the assessment as part of a program directed at estimating the undiscovered, technically recoverable oil and gas resources of priority petroleum basins around the world.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Natural Gas Found in Levant Basin Province

RESTON, Va., April 12 (UPI) — U.S. geologists say approximately 122 trillion cubic feet of undiscovered natural gas is in the Levant Basin province in the Eastern Mediterranean region.

The U.S. Geological Survey says the gas is “technically recoverable,” meaning it is available using current technology and industry practices.

The assessment is the first USGS survey of the basin to identify potentially extractable resources, officials said.

“The Levant Basin province is comparable to some of the other large provinces around the world and its gas resources are bigger than anything we have assessed in the United States,” said USGS Energy Resources Program Coordinator Brenda Pierce. “This assessment furthers our understanding of the world’s energy potential, helping inform policy- and decision-makers in making decisions about future energy supplies.”

The USGS said it conducted the assessment as part of a program directed at estimating the undiscovered, technically recoverable oil and gas resources of priority petroleum basins around the world.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Crude Oil Holds Above $82

NEW YORK, March 30 (UPI) — Crude oil prices for May delivery held above $82 per barrel early Tuesday.

Prices were nearly even with light, sweet crude for May delivery losing 7 cents on the New York Mercantile Exchange to $82.10 per barrel. Heating oil futures for May delivery shed 0.0039 cents to $2.1247 per gallon. Reformulated gasoline blendstock for May lost 0.0011 cents to $2.2616 per gallon. Henry Hub natural gas prices for May lost 0.051 cents to $3.865 per million British thermal units.

At the retail level, the average national price for unleaded regular gasoline was $2.795 per gallon Tuesday, down from Monday’s $2.80, AAA said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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No Oil Boom at Falklands?

LONDON, March 29 (UPI) — British companies eager to drill for oil off the Falkland Islands have been hit hard by one of the companies’ announcement that there was little crude to extract.

Desire Petroleum, one of three British companies exploring the waters off the disputed archipelago, said Monday that its initial drilling revealed that, “oil may be present in thin intervals but that reservoir quality is poor.”

Shares in the company almost halved in Monday trading at London’s Stock Exchange, with the remaining two companies, Rockhopper and Falkland Oil and Gas, also losing substantially.

Launched last month, the drilling activities — the first in a decade there — sparked an angry reaction by Argentina, which has repeated its claim to the islands. The diplomatic row is reviving memories of the military conflict between both nations over the islands in 1982.

The Argentinian government is seeking support from its partners in the region and has protested the drilling but London underlined that it was Britain’s legitimate right to explore the waters.

Massive drilling gear was shipped from the Scottish North Sea port Aberdeen to the Falklands but hopes for an oil boom near the Falklands have been dealt a blow.

Desire’s so-called Liz well some 1,000 miles south of the islands reached a depth of 2.22 miles, with first traces of hydrocarbons detected at a depth of 1.4 miles, the company said in a statement.

“Deeper gas shows have also been encountered while drilling, particularly below (11,220 feet) and these have still to be evaluated by wireline logging and sampling,” the company said. “Until the logging is complete and the results analyzed it will not be possible to determine the significance of the hydrocarbons encountered and whether the well will need to be drilled deeper, suspended for testing or plugged and abandoned.”

Previously the company said findings indicated the area has “a proven working hydrocarbon system with an excellent oil source rock. In addition, recent studies have indicated there is also a significant gas potential in the basin.”

Scientific reports, cited earlier by Desire and other companies, said the region could be holding recoverable oil in excess of 3.5 billion barrels and natural gas of more than 9 trillion cubic feet, making it potentially the largest oil field outside Saudi Arabia.

Desire will make a full announcement on its latest findings later this week, it added.

Alan Sinclair, analyst at Seymour Pierce, said the market reaction sparked by the Desire announcement was too harsh.

“Whilst the market may have been looking for seagull-scorching test results from Liz, it should be borne in mind that this is the first of a potential six-well program by Desire,” Sinclair wrote in a research note. “It is encouraging that initial indications suggest that potentially all the ingredients — reservoir, trap and hydrocarbons — are present in the general area.”

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Crude Oil Prices Bolt Higher

NEW YORK, March 29 (UPI) — Crude oil prices for May delivery shifted sharply higher Monday, topping $82 per barrel in New York with the dollar index recently down 0.48 percent.

A lower dollar tends to pick up demand in oil as it becomes that much more affordable in other currencies.

On the New York Mercantile Exchange, light, sweet crude oil prices for May delivery added $2.48 to $82.48 per barrel. Heating oil futures for May delivery added 0.0373 cents to $2.1205 per gallon. Reformulated gasoline blendstock for May gained 0.0493 cents to $2.2578 per gallon. Henry Hub natural gas prices for May lost 0.025 cents to $3.905 per million British thermal units.

At the retail level, the average national price for unleaded regular gasoline was $2.80 per gallon Monday, down from Sunday’s $2.803, AAA said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Crude Oil Prices Top $80

NEW Y, N.Y., March 29 (UPI) — Crude oil prices for May delivery shifted higher Monday, adding 68 cents to hit $80.68 per barrel in New York with the dollar index recently down 0.54 percent.

A lower dollar tends to pick up demand in oil as it becomes that much more affordable to other currencies.

On the New York Mercantile Exchange, heating oil futures for May delivery added 0.0183 cents to $2.0877 per gallon. Reformulated gasoline blendstock for May gained 0.0127 cents to $2.2212 per gallon. Henry Hub natural gas prices for May lost 0.025 cents to $3.847 per million British thermal units.

At the retail level, the average national price for unleaded regular gasoline was $2.80 per gallon Monday, down from Sunday’s $2.803, AAA said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Crude Oil Prices Hold Above $80

NEW YORK, March 26 (UPI) — Crude oil prices for May delivery shifted lower Friday, dropping 41 cents to hit $80.12 per barrel in New York as the dollar index fell 0.6 percent.

The dollar shifted lower after France and Germany reached an agreement to help Greece with its national debt — an issue that has weighed on the euro for at least a month.

On the New York Mercantile Exchange, heating oil futures for May delivery added 0.0043 cents to $2.0867 per gallon. Reformulated gasoline blendstock for May shed 0.0072 cents to $2.2127 per gallon. Henry Hub natural gas prices for May lost 0.1 cents to $3.929 per million British thermal units.

At the retail level, the average national price for unleaded regular gasoline was $2.811 per gallon Friday, down from Thursday’s $2.813, AAA said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Ukraine, Russia Discuss Natural Gas Prices

MOSCOW, March 26 (UPI) — Ukraine and Russia have agreed to compromise on natural gas prices, their two prime ministers said Friday.

Ukrainian Prime Minister Mykola Azarov visited Moscow to discuss the long-term agreement his predecessor, Yulia Tymoshenko, signed with Russian Prime Minister Vladimir Putin, RIA Novosti reported. Earlier this year Russian officials said Ukraine would have to pay market prices for gas, set at $305 per 1,000 cubic meters of gas for the first quarter, going up to $325 in the second quarter.

Azarov met Thursday with Alexei Miller, CEO of Gazprom, followed by a meeting with Putin.

“An important result of the meeting is that Russia has agreed to start talks on this subject,” Azarov said Friday at a news conference. “It would be very naive to think that one meeting has resolved a whole host of issues after five years of such an absurd policy towards Russia.”

Putin said the two “had found a compromise.” Azarov reportedly agreed to give Russia a share in state-owned gas pipelines, which carry about 80 percent of the gas Russia exports to Europe.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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Crude Oil Prices Nearly Flat

NEW YORK, March 26 (UPI) — Crude oil prices for May delivery added 9 cents to hit $80.60 per barrel in New York as the dollar index fell 0.26 percent.

The dollar shifted lower after France and Germany reached an agreement to help Greece with its national debt — an issue that has weighed on the euro for at least a month.

Early Friday on the New York Mercantile Exchange, heating oil futures for May delivery added 0.0022 cents to $2.0846 per gallon. Reformulated gasoline blendstock for May shed 0.0028 cents to $2.2171 per gallon. Henry Hub natural gas prices for May lost 0.22 cents to $4.007 per million British thermal units.

At the retail level, the average national price for unleaded regular gasoline was $2.811 per gallon Friday, down from Thursday’s $2.813, AAA said.

Copyright 2010 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI’s prior written consent.

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