GLG News by LNG Experts

China announced US$ 586 billion stimulus plan. Their planners are trying to make “CHINA’S EXPORT DRIVEN ECONOMY TO DOMESTIC DRIVEN” and will spend this amount in next 2 years. Focus will be in 10 areas, mainly post earthquake reconstruction, low cost housing, infrastructure etc. To achive such huge...

Chesapeake Energy, the largest US unconventional natural gas producer, has sold 32.5% of its shale gas ("SG") assets in the Marcellus shale region in Pennsylvania, West Virginia and New York.  Statoil has agreed to pay $3.38 billion.  $1.25 billion would be in cash and $2.125 billion is to...

Senior Writer Sam Fletcher reported in the November 10 issue of the Oil & Gas Journal that Suncor Energy and Petro-Canada are delaying Canadian oil sands projects. Suncor reduced its 2009 budget by $3.6 at the Voyageur project. Petro-Canada will delay an upgrader for its Fort Hills consortium project....

Exit of FDI from Indian equity market has shockingly pushed all infrastructure, steel, transport, natural resources and allied industries’ stocks towards South side. Presently Indian infrastructure, real estate, construction, steel, iron ore, shipping & hotel industry are worst suffered due to liquidity...

Iron ore and steel production cut backs, whether short-term or longer, do not support the current abysmal dry bulk shipping rates.

Tradewinds reported on USS' SEC filing on a likely write-down of their fleet values, continuing the problems facing the Jones Act tanker company.

Hailed as a "no brainer" by analysts, Genco's forfeiture of over $50M in deposits to cancel the purchase of 6 new ships is nevertheless a bad indicator of how the company will fare going forward.

    The suit alleges four of the Class I Railroads violated Federal antitrust laws with respect to fuel surcharge.  The four Class I Railroads in the suit are CSX, Norfolk Southern, BNSF Railway, and Union Pacific Railroad.  The time period is July 2003 through June 20...

Corus is Europe’s 2nd largest steel producer which produces over 20 Mn tones crude steel with annual revenue of around 12 billion GBP. Corus was acquired by India based Tata Steel for $ 13.7 Bn. during April 2007. The company has steel manufacturing facilities in Britain and Netherlands. After...

Nick Snow prepared a special report on the unfolding shale gas play in three eastern states of the U.S. which appeared in the November 10 issue of the Oil & Gas Journal. The Marcellus shale extends 575 miles across parts of Pennsylvania, New York and West Virginia. With about 50 trillion cubic feet...