Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
Topic / NGI Mexico GPI
SubscribeNGI Mexico GPI
Articles from NGI Mexico GPI
Colder Forecast, Tighter Balances Lift Natural Gas Futures in Early Trading
Supportive weekend weather trends, against a backdrop of tightening underlying fundamentals, helped natural gas futures rebound in early trading Monday. After plunging 8.6 cents in Friday’s session, the April Nymex contract was up 8.8 cents to $1.743/MMBtu as of 8:35 a.m. ET. The American Global Forecast System model added 20 heating degree days (HDD) over…
With Natural Gas Prices So Cheap Across the Border, Why Isn’t Mexico Importing More? – Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Almost 10 years have passed since the formation of Cenagas, the operator of Mexico’s Sistrangas natural gas pipeline network. The first open…
North American Natural Gas Prices in Doldrums After Warm Winter – Mexico Spotlight
North American natural gas futures gained some ground on Thursday but overall, prices continued to languish. After six straight sessions of losses, the New York Mercantile Exchange contract for April rose on Thursday by 8.3 cents/MMBtu day/day to settle at $1.741. There was little room for optimism, though, for natural gas bulls. AccuWeather said the…
April Natural Gas Futures Gain After Storage Print Exceeds Estimates
The U.S. Energy Information Administration (EIA) on Thursday reported a natural gas withdrawal from storage of 9 Bcf for the week ended March 8, which exceeded expectations and sent futures higher. Ahead of the 10:30 a.m. ET government report, April Nymex futures were trading 2.6 cents higher day/day at $1.684/MMBtu. After the data was released,…
EIA Cuts U.S. Natural Gas Price Forecast Amid Warm Winter Temps, Stout Supply
The U.S. Energy Information Administration (EIA) is slashing its projected 2024 average Henry Hub natural gas spot price by 14% versus its month-earlier forecast after observing record lows for the benchmark in February, the agency said Tuesday. EIA, in its latest Short-Term Energy Outlook (STEO), modeled an average Henry Hub price of $2.27/MMBtu for 2024,…
Natural Gas Futures Slide as Cash Prices at Three-Year Lows Outweigh CNX Output Cuts
Natural gas futures reversed early gains Tuesday as weaker physical prices squashed initial optimism from another producer curtailment to send the prompt contract to its fifth straight decline. At A Glance: CNX cuts 30 Bcf equivalent Two Freeport LNG trains offline National Avg. sinks to $1.285 The April Nymex contract settled at $1.714/MMBtu, down 4.5…
Amid Oil and Natural Gas Consolidation Frenzy, Chevron’s Guyana Mega-Deal Facing Hurdles
ExxonMobil is trying to put a stop to Chevron Corp. and its bid to enter the lucrative Guyanese offshore oil and natural gas patch. The company has filed for arbitration, claiming Chevron’s bid to snap up Hess Corp.’s Guyana assets goes against a contract clause that grants ExxonMobil a right of first refusal. Last October,…
Threat of Early Season Storage Build Chases Natural Gas Futures, Cash Lower
Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March. At A Glance: NGI models 3 Bcf withdrawal National Avg. notches new 2024 low West Texas cash prices flip negative The April Nymex contract settled at…
Natural Gas Futures Unswayed by Cooler March Temps as Prices Skid Lower
Forecasts flashing cooler weather arriving into the second half of March failed to impress natural gas futures traders early Monday as prices eased lower. The April Nymex contract was down 2.4 cents to $1.781/MMBtu as of 8:47 a.m. ET. A number of near-term factors threatened downward pressure on prices as of early Monday, EBW Analytics…