Coronavirus

Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…

July 26, 2021
Tellurian Terminates $700M Deal with TotalEnergies for Driftwood LNG

Tellurian Terminates $700M Deal with TotalEnergies for Driftwood LNG

A deal with French supermajor TotalEnergies SE that would have injected up to $700 million into Tellurian Inc.’s planned Driftwood liquefied natural gas (LNG) export facility in Louisiana has fallen through after the project developer failed to meet a key deadline for sanctioning the project. In a filing with the U.S. Securities and Exchange Commission,…

July 12, 2021
Bolstered by Rebound of Major Economies, Global Oil Demand to Surge, OPEC Says

Bolstered by Rebound of Major Economies, Global Oil Demand to Surge, OPEC Says

An acceleration in travel and economic activity should hasten the resurgence in global oil demand in the second half of 2021, cutting into supplies and justifying increased crude production, the Organization of the Petroleum Exporting Countries (OPEC) said Thursday.  In its closely watched Monthly Oil Market Report, the Saudi-led cartel affirmed expectations it reported a…

June 11, 2021
Covid-19 Cases Surge in India, Cutting Into Spot LNG Demand

Covid-19 Cases Surge in India, Cutting Into Spot LNG Demand

A prolific surge in Covid-19 cases in India is cutting into spot liquefied natural gas (LNG) demand as some vessels have avoided the country since last month.  Seven LNG tankers that were headed to India have been diverted to other destinations since mid-April, said Kpler analyst Charles Costerousse, who added that the market research firm…

May 7, 2021
June Natural Gas Futures Inch Higher Amid LNG Strength, Potential for Storage Depletion

June Natural Gas Futures Inch Higher Amid LNG Strength, Potential for Storage Depletion

Natural gas futures advanced for a second consecutive session on Monday, as traders mulled weather-driven demand potential, continued strong liquefied natural gas (LNG) volumes and the potential for light storage levels moving through the summer months.   The June Nymex contract advanced 3.5 cents day/day and settled at $2.966/MMBtu. July rose 3.6 cents to $3.014. Spot…

May 3, 2021
U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

U.S. Oil, Gas M&A Activity Sinks in 1Q2021, but Signs of Momentum Ahead, Enverus Says

Consolidation in the U.S. upstream sector slowed to a relative crawl in the first quarter after rallying late in 2020. But there have been signs of increased activity in April and potential catalysts for more deals as the year wears on, according to an Enverus analysis. The oil and gas analytics company’s summary of 1Q2021…

April 9, 2021
Tellurian ‘Adapts’ Driftwood LNG Plans on Heels of Covid-19

Tellurian ‘Adapts’ Driftwood LNG Plans on Heels of Covid-19

Tellurian Inc. could begin construction on certain elements of its Driftwood liquefied natural gas (LNG) facility in Louisiana as early as this summer, CEO Octávio Simões said recently. “We’re aiming to start construction of the owner obligation costs this summer,” Simões told NGI. Those owner obligations are not covered by the company’s engineering, procurement and…

April 9, 2021
Oil Demand Outlook Said Strong, but Spare Capacity Keeping Prices in Check

Oil Demand Outlook Said Strong, but Spare Capacity Keeping Prices in Check

Global demand for oil and natural gas is likely to continue growing for the foreseeable future, although talk of an impending oil price “supercycle” has proved premature for now, a panel of experts agreed Friday. For the next five years, “We have a very constructive view on oil demand,” said ConocoPhillips chief economist Helen Currie…

March 22, 2021
Schlumberger Sees ‘Clear Path’ to Double-Digit Margin Growth in North America as Oil, Gas Activity Accelerates

Schlumberger Sees ‘Clear Path’ to Double-Digit Margin Growth in North America as Oil, Gas Activity Accelerates

Schlumberger Ltd., the world’s largest oilfield services company, posted solid double-digit revenue growth and sequential margin expansion in North America, both onshore and offshore, in the final three months of 2020. During a conference call on Friday morning in Houston, CEO Olivier Le Peuch said the overall market position improved in 2020, despite the pressure…

January 22, 2021
NGI’s Hub & Flow Explores Toilet Paper Debacle, Similar Natural Gas Demand Trends Amid Covid-19 — Listen Now

NGI’s Hub & Flow Explores Toilet Paper Debacle, Similar Natural Gas Demand Trends Amid Covid-19 — Listen Now

Click here to listen to a recent episode of NGI’s Hub & Flow podcast. Senior Editor Leticia Gonzales chats with NGI Senior Systems Engineer Nate Harrison about the changes in toilet paper consumption since Covid-19 and how similar changes in natural gas use have altered supply/demand balances. Believing that transparent markets empower businesses, economies and…

December 31, 2020
‹ Previous 1 2 3 20