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Revision as of 15:35, 12 September 2008
, 15:35, 12 September 2008Updates to article
industry = [[Gas Utilities]]|
industry = [[Gas Utilities]]|
products = [[Natural gas]], [[Oil reserves]], [[Timber]] |
products = [[Natural gas]], [[Oil reserves]], [[Timber]] |
revenue = $ 1.92 billion U.S. dollars (2005)
revenue = $ 2.04 billion U.S. dollars (2007)<ref>{{cite web|url=http://library.corporate-ir.net/library/90/908/90873/items/281582/2007_Financial_Statistical_Report.pdf |title=2007 Financial & Statistical Report |last=Welch |first=James |date=2008|work=Corporate website|accessdate=2008-09-12}}</ref>
homepage = [http://www.natfuel.com/ www.natfuel.com]|
homepage = [http://www.nationalfuelgas.com/ www.nationalfuelgas.com]|
reference = [[Year End]]: [[Year End:=1231|12/31]]<br>[[DUNS]]: [[DUNS:=na]]<br>[[NAICS]]: [[NAICS_Code1:=21111]] [[NAICS_Code2:=48691]] |
reference = [[Year End]]: [[Year End:=0930|09/30]]<br>[[NAICS]]: [[NAICS_Code1:=21111]] [[NAICS_Code2:=48691]] |
}}
}}
[[industrial]], [[commercial]], public authority and residential end users. The Timber segment markets [[timber]]
[[industrial]], [[commercial]], public authority and residential end users. The Timber segment markets [[timber]]
from its [[New York]] and [[Pennsylvania]] land holdings, owns two sawmill operations in northwestern Pennsylvania,
from its [[New York]] and [[Pennsylvania]] land holdings, owns two sawmill operations in northwestern Pennsylvania,
and processes timber.
and processes timber.<ref>{{cite web|url=http://www.nationalfuelgas.com/AboutUs.htm|title=National Fuel Gas Company - Building on 100 Years |last=Coppola Cox |first=Julie |date=2008|work=Corporate website|accessdate=2008-09-12}}</ref>
==History==
As one of the earliest gas utility companies in the [[United States]], National Fuel Gas witnessed a number of technological firsts at its company or its subsidiaries. Engineers at the company discovered that depleted underground gas fields could be modified to act as storage reservoirs. Thus, the first such storage facility in the US was implemented at Zoar Field, about forty miles south of [[Buffalo, New York|Buffalo]]. This turned out to be a great financial asset to NFG in the [[1940s]] and [[1950s|50s]], when skyrocketing demand for natural gas led to extensive [[pipelines]] in the eastern states being connected to new pipelines and fields in the southwestern states. NFG could thereby purchase huge quantities of cheaper summer gas from the southwest, pipe it to its New York storage fields, inject it into the ground, then retrieve it when demand and prices rose in the winter months.<ref>{{cite news |url=http://www.osti.gov/energycitations/product.biblio.jsp?osti_id=538258 |work=[[Journal of Petroleum Technology]]; VOL. 49 ; ISSUE: 10 |date=[[1997-10]] |accessdate=2008-09-12 |last=Knepper |first=G.A. |title=Underground storage operations}}</ref>
The company was also the first in the industry to develop a gas-fired generator to produce electricity for [[cathodic protection]] to fight corrosion on pipelines.<ref>{{cite news |url=http://www.alacrastore.com/storecontent/markintel/DATAMONITOR_COMPANY_PROFILES-50197786 |work=[[Datamonitor]] Company Profiles |date=[[2008-05-15]] |accessdate=2008-09-12 |title=National Fuel Gas Company - SWOT Analysis}}</ref>
In 1975, with the introduction of "Balanced Billing", the company claimed that it was "the only gas utility in the country" with a flexible plan for customers to pay bills in eleven equal monthly payments, with settlement of any overpayment or underpayment in the twelfth month. This is a modified system of [[installment credit]].<ref>{{cite news |url=http://www.newspaperarchive.com/LandingPage.aspx?type=glpnews&search=%22national%20fuel%20gas%20is%20the%20only%20gas%20utility%20in%20the%20country%20with%20this%20flexible%20plan%22&img=\\na0034\6777912\34575272_clean.html |work=[[Warren Times Observer]] |date=[[1975-03-12]] |accessdate=2008-09-12 |title="What's behind your gas bill" (advertisement)}}</ref>
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National Fuel Gas Co. is traded on the [[New York Stock Exchange]] under the ticker symbol NFG.
National Fuel Gas Co. is traded on the [[New York Stock Exchange]] under the ticker symbol NFG.
==Notes==
{{reflist}}
== External links ==
== External links ==
