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British Gas Owner Cuts Prices, Jobs AP via Yahoo! Finance Centrica PLC, the country's largest supplier of gas and electricity, said Friday it will cut retail prices and slash more than 1,300 jobs as it attempts to stem a flood of departing customers. BP, CNOOC to invest 100 million dollars in South China Sea gas AFP via Yahoo! News British energy giant BP and China National Offshore Oil Corp (CNOOC), have invested 100 million dollars in a gas drilling deal in the South China Sea, a press report has said. Criminal Inquiries Look at U.S. Oil-Gas Unit New York Times The two inquiries are just the latest of several into the Interior Department?s Minerals Management Service and its collection of royalties for oil and gas. Businesses evacuated in gas leak BBC News Workers at a business park on the edge of Hull are led to safety amid a major gas leak caused by workmen. Centrica's British Gas Unit to Cut Household Bills Update4 Bloomberg.com Dec. 15 (Bloomberg) -- Centrica Plc, the U.K.'s biggest energy supplier, said its British Gas residential unit will cut natural gas and power rates for the first time since 2001, hoping to stem a loss of customers. Canadian Gas May Fall as Above-normal Temperatures Curb Demand Bloomberg.com Dec. 15 (Bloomberg) -- Natural gas at Canada's biggest trading point may drop for a second day on forecasts of mild weather that will curb demand for the heating fuel and maintain U.S. inventories at above-average levels. British Gas to cut its gas bills BBC News British Gas owner Centrica says it plans to cut retail gas prices in spring 2007 after a drop in wholesale costs. Centrica's British Gas Unit to Cut Household Bills Update3 Bloomberg.com Dec. 15 (Bloomberg) -- Centrica Plc, the U.K.'s biggest energy supplier, said its British Gas unit will cut natural gas and electricity rates for households for the first time since 2001 because of falling wholesale gas prices. 5 oil and gas companies to pay royalties AP via Yahoo! News Five oil and gas companies, including Shell, ConocoPhillips and BP, have agreed to pay royalties on future production under flawed drilling leases in the Gulf of Mexico, the government said Thursday. Russia's Great Gas Grab RealClearPolitics.com via Yahoo! News The global economy is held together by silken threads of trust, the belief that contracts will be honored once signed. Without the assurance that governments will honor their agreements, individuals and companies would be reluctant to advance the substantial sums necessary to undertake large scale projects, such as drilling for oil or natural gas.
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