Coronavirus

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,…

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…

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…

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…

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…

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…

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…

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…

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…