Nat Gas News – November 5, 2018

Nat Gas News – November 5, 2018

Gas Explosion Levels Empty Mansion Under Renovation

ABC News reported: An apparent gas explosion leveled an empty mansion in an affluent suburb of Philadelphia on Sunday, reducing the 9,000-sq. foot (836-sq. meter) home to rubble and frightening neighbors and others who felt the thunderous boom. The explosion at the Gladwyne mansion happened just after 8 p.m., and was felt as far away as southern New Jersey. The house was undergoing extensive renovations, authorities said, and no one was inside the home at the time of the explosion. It was reduced to a few walls and rubble, as various debris ended up strewn among nearby trees. The family was staying in a second residence when the mansion exploded. Their names have not been released. A spokeswoman for PECO Energy Company said no injuries were reported. The cause of the explosion remained under investigation Monday. For more on this story visit abcnews.go.com or click https://abcn.ws/2zvfjZp

China’s Sinopec, CNPC Speed Up Oil, Gas Drilling to Boost Output

Reuters reported: China’s Sinopec and CNPC [CNPET.UL] are speeding up drilling and exploration from major tight and shale oil and gas formations in the country’s western regions to boost domestic output, according to company reports on Monday. New exploration in shale gas, tight oil and tight gas will lead to growth in production for the country’s largest oil and gas producer, China National Petroleum Corporation (CNPC), the firm’s official newspaper reported on Monday, citing an internal conference from its upstream services unit. The drilling cycle at the Mahu field in Xinjiang, one of CNPC’s largest findings in recent years, fell 40 percent from a year go, CNPC said, implying that oil wells are being completed and produced at a faster rate. Despite having large domestic oil and gas reserves, China has become the world’s biggest importer of crude oil, and this year it is also expected to overtake Japan as the top buyer of liquefied natural gas (LNG). LNG shipments cost China around $25 billion in October alone, according to Reuters calculations. For more on this story visit reuters.com or click https://reut.rs/2OqJPc5

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Make a Call

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote