Sept. 8 (Bloomberg) -- Tenaris Chief Executive Officer Paolo Rocca said U.S. power generators will switch from coal to natural gas next year, boosting sales for the world’s largest maker of steel pipe for the oil and natural gas industries.
Natural gas prices close to a seven-year low will prompt industrial users to switch fuels in the first half of 2010, Rocca, whose family controls the company, said yesterday in an interview in London.
“There will be renewed interest for investment in gas,” Rocca said. “There will be substitution of coal and fuel oil in the production of power.”
Tenaris gets almost half of its revenue from selling steel tubes in North America. The company, which is based in Luxembourg, spent $4.8 billion to acquire Chesterfield, Missouri-based Maverick Tube Corp. and Houston-based Hydril in 2006 and 2007. Sales in North America fell 33 percent in the second quarter to $661 million.
Natural gas for October delivery rose 8 cents, or 2.9 percent, to $2.808 per million British thermal units at 11:53 a.m. on the New York Mercantile Exchange. Gas dropped to $2.409 in intraday trading Sept. 4, the lowest since March 4, 2002.
Tenaris rose $1.87, or 6.4 percent, to $31.14 on the in New York Stock Exchange. The stock has gained 48 percent this year.
http://www.bloomberg.com/apps/news?pid=20602099&sid=avjxvlofdV7E
Natural gas prices close to a seven-year low will prompt industrial users to switch fuels in the first half of 2010, Rocca, whose family controls the company, said yesterday in an interview in London.
“There will be renewed interest for investment in gas,” Rocca said. “There will be substitution of coal and fuel oil in the production of power.”
Tenaris gets almost half of its revenue from selling steel tubes in North America. The company, which is based in Luxembourg, spent $4.8 billion to acquire Chesterfield, Missouri-based Maverick Tube Corp. and Houston-based Hydril in 2006 and 2007. Sales in North America fell 33 percent in the second quarter to $661 million.
Natural gas for October delivery rose 8 cents, or 2.9 percent, to $2.808 per million British thermal units at 11:53 a.m. on the New York Mercantile Exchange. Gas dropped to $2.409 in intraday trading Sept. 4, the lowest since March 4, 2002.
Tenaris rose $1.87, or 6.4 percent, to $31.14 on the in New York Stock Exchange. The stock has gained 48 percent this year.
http://www.bloomberg.com/apps/news?pid=20602099&sid=avjxvlofdV7E
8/9 2009 22:36 Hegu 0
18304 Hej Jan,
Det er faktisk et meget vigtigt indlæg, som du har postet her. Vi er mange, som har ventet på en bekræftelse på, at omstillingerne fra kul/olie til gas er undervejs.
Kan du ikke poste indlægget på Hegnar?
Med venlig hilsen
Hegu
Det er faktisk et meget vigtigt indlæg, som du har postet her. Vi er mange, som har ventet på en bekræftelse på, at omstillingerne fra kul/olie til gas er undervejs.
Kan du ikke poste indlægget på Hegnar?
Med venlig hilsen
Hegu9/9 2009 01:37 Jan H 018319 Det er gjort, se lige de gas future priser her, pænt stigende, og allerede 5 $ når vi til vinter.
http://www.crbtrader.com/data/default.asp?page=quote&sym=NGX8&mode=i
Og Chesapeake bossen vil til at køre på naturgas.
Måske var det en ide for NEC til at være foregangsmænd på øst kysten, både bilerne og gassen er der, og når den nye energi lov kommer kan dette blive rentabelt. En utroligt spændende tid venter.
http://finance.yahoo.com/news/Chesapeake-CEO-convinced-CNG-apf-3029387979.html?x=0&.v=2
http://www.crbtrader.com/data/default.asp?page=quote&sym=NGX8&mode=i
Og Chesapeake bossen vil til at køre på naturgas.
Måske var det en ide for NEC til at være foregangsmænd på øst kysten, både bilerne og gassen er der, og når den nye energi lov kommer kan dette blive rentabelt. En utroligt spændende tid venter.
http://finance.yahoo.com/news/Chesapeake-CEO-convinced-CNG-apf-3029387979.html?x=0&.v=2
9/9 2009 13:06 JensHorka 018340 Der er en del snak om at SHB er ved at koebe op i NEC. Mener de gjorde noget tilsvarende sidste aar INDEN de slap et rimeligt hoejt kursmaal der fik aktien til at springe i vejret..
Lad os bare haabe at historien gentager sig :)
God dag herfra
JH
Lad os bare haabe at historien gentager sig :)
God dag herfra
JH
