With a market capitalization of $406.3 billion, ExxonMobil Corp. once again led the world’s top oil and natural gas producers in 2011, according to the annual ranking PFC Energy 50. Irving, TX-based ExxonMobil has led all of the world’s producers except in 2007 and 2009, when PetroChina Co. Ltd. was the No. 1 producer, PFC noted. In the latest ranking PetroChina is in second place with a market valuation of $276.6 billion. Six supermajors posted the best group performance among companies returning to this year’s list: ExxonMobil, Royal Dutch Shell plc, Chevron Corp., BP plc, Total SA and ConocoPhillips increased their combined market capitalization 8% in 2011 to $1.2 trillion. Chevron, in fourth place with a market capitalization of nearly $212 billion, increased its valuation by 15% from $183.6 billion, which was the largest percentage increase of any returning company. Four midstream and pipeline companies made the list: Enterprise Products Partners LLC in the 25th spot; TransCanada Corp., 37th; Enbridge Inc., 40th; and Kinder Morgan Inc., 41st.
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ExxonMobil Top Global Producer, Says PFC
With a market capitalization of $406.3 billion, ExxonMobil Corp. once again led the world’s top oil and natural gas producers in 2011, according to the annual ranking by PFC Energy 50 list.
Traders Map Strategy as EIA Data Prompts Market Slump
February natural gas trekked below $3 again in active trading Thursday as traders factored in government storage data that showed a continued widening in the storage surplus. At the close February had given up 11.6 cents to$2.980 and March had retreated 11.0 cents to$3.017. February crude oil slipped $1.41 to $101.81/bbl.
Raymond James Slices Another Quarter off Gas Price Forecast
Energy analysts with Raymond James & Associates Inc. on Tuesday once again cut their outlook for 2012 U.S. natural gas prices, this time by a quarter to $3.25/Mcf. To those awaiting a recovery in gas prices the analysts advised, “Don’t hold your breath.”
Pennsylvania Ends Year Without Impact Fee
Pennsylvania legislators failed once again to advance a bill to the governor’s desk that would impose an impact fee on natural gas drilling in the Marcellus and Utica shales.
Alaska LNG Terminal to Run Next Year
Once slated for mothballing, the Kenai LNG (liquefied natural gas) plant on Alaska’s Kenai Peninsula will begin exporting LNG again next year, operator ConocoPhillips said.
Spreading Cold Keeps Most Cash Prices Rising
A moderate majority of points were up again Tuesday as a mix of rain and snow is expected to move into the Northeast and parts of the Mid-Atlantic before fading Thursday, and except for the eastern end of the South most regions can expect bottom-end temperatures ranging from the vicinity of freezing to much lower. Monday’s 12.3-cent screen dive had only a moderate impact on the softening locations.
No Slowdown in North Dakota, Energy Official Says
“The idle well [count] increased again to 762 wells, approximately 300 above the normal 450, indicating that drilling continues to outpace fracturing services and a need to add approximately 10 crews,” Helms said in his monthly “Director’s Cut” report.
Prices Keep Rising at Most Locations
It likely will last only a few days before starting to diminish again, but heating load is building from the Midwest through a wide snowy swath of the Rockies, and the South and Northeast can expect to feel a similar chill as the weekend approaches. The result was a second day of firming cash quotes at nearly all points.
Repeat of Near-Flat Prices Turns Slightly to Upside
Prices again showed little change from flat in a large majority of cases Thursday, but this time they tended to be mostly a little higher instead of the other way around as on the day before. Although some regions will see slightly warmer weather over the next couple of days or so, crisp and cool fall conditions appear to be pretty well established by now.
