LNG Recovery, Production Revisions Fuel Big Gains for Natural Gas Futures Prices

Natural gas futures roared back midweek as export demand rose sharply following maintenance and production dipped lower for the second straight day. The July Nymex gas futures contract surged 7.5 cents day/day to $3.333. The August contract picked up 7.5 cents to $3.352. Spot gas increases also became more widespread ahead of warmer weather on…

BP’s Manuel Project in GOM’s Mississippi Canyon Ramps Up

BP plc said Wednesday it has ramped up production from the Manuel project in the deepwater Gulf of Mexico (GOM), with two new wells tied into the Na Kika platform. The Mississippi Canyon project in Block 520, in which Royal Dutch Shell plc is a 50% partner, is the fourth of five projects set to…

June 23, 2021

Schlumberger Gearing Portfolio to Reach Net-Zero Carbon by 2050

Schlumberger Ltd., the world’s largest oilfield services company, has joined its energy peers in committing to reach net-zero carbon emissions across the oil and gas value chain by 2050. The company said Tuesday it has spent 18 months analyzing and working with experts to produce a decarbonization plan. The focus is to reduce emissions from…

June 23, 2021

Asia Pacific Coal Power Investments Seen Outpacing Natural Gas into 2030s

Wind, solar and natural gas have the brightest future in Asia Pacific power generation, although coal is not going anywhere soon, according to experts at Wood Mackenzie. “Asia Pacific power generation investments are leading the world and expected to hit $2.4 trillion in the current decade, with renewables accounting for over half, or $1.3 trillion…

June 23, 2021

DC Court Vacates Spire Pipeline Certificate, Says FERC Erred in Needs Determination

FERC erred when it issued a 2018 certificate to Spire STL Pipeline LLC by failing to adequately examine the market need for the natural gas transmission project, an appeals court ruled Tuesday. The U.S. Court of Appeals for the District of Columbia (DC) Circuit vacated Spire’s certificate and remanded it back to the Federal Energy…

June 23, 2021