Christopher Lenton

After rising Monday and Tuesday and then falling on Wednesday, natural gas futures returned to the plus column on Thursday as the October Nymex natural gas futures contract gained 2.8 cents day/day to settle at $2.708/MMBtu.  There could be some reason to believe that prices will continue their rise. U.S. production was below 100 Bcf/d…

Mexico’s state oil and natural gas giant Petróleos Mexicanos, or Pemex, is working to improve its environmental, social and governance (ESG) scorecard. The company has hired an external consultant to devise a plan focused specifically on reducing emissions. The plan would also assess alternative sources of revenue that could include lower carbon options. Pemex is…

After being pressured all week by lofty supply, natural gas prices for October finally rose on Thursday. The October New York Mercantile Exchange gas futures contract gained 6.9 cents day/day and settled at $2.579/MMBtu.  The market, however, remains more than adequately supplied. U.S. production on Wednesday was down about 1 Bcf/d but overall remains near…

The labor strike scheduled to begin Thursday at Chevron Corp.’s Gorgon and Wheatstone LNG export facilities in Western Australia was postponed until 6 a.m. Perth time on Friday. Unions postponed work stoppages as contract negotiations continued and are soon expected to decide on further delaying strike action.

Implied costs for natural gas-weighted producers rose by 46% year/year in 2022 to $4.51/Mcfe, according to a new study by BMO Capital Markets. The three-year average cost trend rose 6% to $4.06/Mcfe, the BMO team said. This is based on a comparison to a global Brent oil and Henry Hub basket price. Viewed by the…

Even in the late stages of his administration, Mexico’s President Andrés Manuel López Obrador is sticking to his state-centric energy policy that has rattled many private firms in the sector. In his penultimate state-of-the-union address to the nation last week, he said the program of “expanding the Comisión Federal de Electricidad (CFE) includes the construction…

North American natural gas futures showed some upward momentum this week as September heat promised continued support, but the prompt month still fell short of the $3.00/MMBtu mark. The October New York Mercantile Exchange natural gas futures contract debuted strongly on Wednesday and rose 13.4 cents day/day to $2.796/MMBtu. The gains could have been higher…

Latin American LNG imports so far this year haven’t changed compared to last year as drops in Brazil imports are being offset by gains elsewhere. From Jan. 1 through to Aug. 29, Latin American imports of liquefied natural gas were 8.42 million tons (Mt), compared to 8.3 Mt in the same period last year, according…

North American policymakers need to focus on ensuring energy adequacy along with improving coordination between the natural gas and electric power industries, according to a new analysis. In the 2023 Reliability Risk Priorities report, the North American Electric Reliability Corp.’s (NERC) Reliability Issues Steering Committee (RISC) found that a fast changing energy system has “implications…