Energtek Inc. (EGTK.PK) Subsidiary Positioned to Benefit from Increased Natural Gas Production and Rising Oil Prices
According to the Center for Monitoring Indian Economy (CMIE), India’s natural gas production will increase an astounding 60% by the end of next year. The economic think-tank predicts domestic natural gas output will grow to 52,239 million cubic metres in 2009-2010. The additional natural gas production capacity, plus rebounding oil prices, will likely increase the success of Energtek’s subsidiary in India. The price of oil has rebounded steadily over the last several months and continues to hold its advances. As the price of crude oil rises, the profitability of alternative energy solutions (such as natural gas) becomes even greater. Natural…