Energy Update
CHICAGO, June 3 (Reuters) - A coalition of U.S.
environmental groups said Arch Coal's plan to emerge
from bankruptcy fails to describe how the coal producer would
finance its mine clean-up obligations, according to a court
filing.
June 3 (Reuters) - Ratings agency Moody's downgraded
oilfield service providers Halliburton Co and Baker
Hughes Inc, about a month after a deal between the two
companies was torpedoed by opposition from U.S. and European
antitrust regulators.
BERLIN, June 3 (Reuters) - Lockheed Martin Corp, the
largest U.S. arms maker and parent of Sikorsky, has begun to
study the possibility of selling commercial helicopters to Iran,
but said the market may be small and the company still needed
guidance from the U.S. government.
SANTIAGO, June 3 (Reuters) - Chile's SMA environmental
regulator said on Friday it was investigating Latin
America-focused oil and gas explorer GeoPark Ltd for
alleged violations, including fracking activities without having
the necessary permits.
(New throughout, adds price background)
June 3 (Reuters) - U.S. natural gas speculators switched to
net long positions this week, betting prices will rise as
production eases and demand picks up to absorb the record-high
amount of fuel left in inventories after a mild winter.
Speculators in four major NYMEX and ICE markets added 10,192
contracts, changing their bets from a bearish 4,695 net shorts
June 3 (Reuters) - U.S. natural gas speculators switched to
net long after last week switching to net short, betting prices
will rise as production eases and demand picks up to absorb the
record-high amount of fuel left in inventories after a mild
winter.
Speculators in four major NYMEX and ICE markets added 10,192
contracts, changing their bets from a bearish 4,695 net shorts
in the week to May 24 to a bullish 5,497 net longs in the week
Colin Richardson on how the UK steel industry was nationalized and denationalized twice in the second half of the twentieth century as governments grappled with the weakening economics of the cyclical industry.
BRUSSELS, June 3 (Reuters) - International diamond producers
on Friday unveiled a new marketing slogan "Real is Rare" to
reach out to a younger generation of buyers, although major
producer De Beers says diamonds will always be forever.
(Adds state and basin data)
June 3 (Reuters) - U.S. energy firms this week added rigs
drilling for oil for the second time this year, energy services
company Baker Hughes Inc said on Friday, after crude
prices briefly tested a seven-month high over $50 a barrel over
the past two weeks.
That was a key price level that analysts and producers had
said would likely trigger a return to the well pad.
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