Coronavirus

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
Workforce in Texas Upstream Energy Sector Contracts in November After Two Months of Growth

Workforce in Texas Upstream Energy Sector Contracts in November After Two Months of Growth

The number of total jobs in Texas’ upstream sector dipped in November after showing positive gains in October and November, driven principally by layoffs in the services sector.  The Texas Independent Producers & Royalty Owners Association (TIPRO) reported new government data showing that the sector experienced a decline of 2,300 jobs in November compared to…

December 24, 2020
Natural Gas Futures Jump on Expectations for Colder Conditions and Lofty Storage Withdrawal

Natural Gas Futures Jump on Expectations for Colder Conditions and Lofty Storage Withdrawal

Natural gas futures advanced Tuesday on forecasts for colder weather and a bullish withdrawal from storage. Improved liquefied natural gas (LNG) levels added a dose of optimism. The January Nymex contract climbed 7.5 cents day/day and settled at $2.780/MMBtu. February rose 6.0 cents to $2.749. NGI’s Spot Gas National Avg. rose 5.5 cents to $2.870.  …

December 22, 2020
Fossil, Renewable Energy Advocates Alike Applaud Passing of $2.3T Spending Bill

Fossil, Renewable Energy Advocates Alike Applaud Passing of $2.3T Spending Bill

Proponents of the natural gas, oil and renewable energy sectors all found something to like about a $2.3 trillion omnibus spending and coronavirus relief package passed late Monday by the House and Senate. The American Petroleum Institute (API) praised legislators for including several provisions from Sen. Lisa Murkowski’s (R-AK) American Energy Innovation Act, including parts…

December 22, 2020
Mexico Natural Gas Market Hangs On in Tortuous 2020

Mexico Natural Gas Market Hangs On in Tortuous 2020

Mexico’s natural gas market continued to grow in 2020 despite the chaos wrought by Covid-19 and unease around the government’s state-centric energy policies, underscoring the molecule’s increasing importance to the local economy. Looking back, NGI’s Mexico GPI forecasts last year may have been wildly optimistic. The year started innocently enough, but it took a sharp…

December 17, 2020
U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

U.S. Crude Oil Inventory Declines; Weekly Demand Increases But Remains Modest, EIA Says

After jumping a week earlier, domestic oil inventories dropped during the week ended Dec. 11, the U.S. Energy Information Administration (EIA) said Wednesday.   EIA said in its Weekly Petroleum Status Report that U.S. commercial crude oil inventories — excluding those in the Strategic Petroleum Reserve — decreased by 3.1 million bbl from the prior week.…

December 17, 2020
Cabinet Changes in Mexico Bring Hope for Improving Investment Conditions

Cabinet Changes in Mexico Bring Hope for Improving Investment Conditions

President Andrés Manuel López Obrador of Mexico reshuffled his cabinet early in December in what several analysts consider a move that will improve relations with the private sector and potential foreign investors. The new officials, the analysts suggested, are likely also to work more closely with their U.S. counterparts in the upcoming administration of President…

December 16, 2020
Natural Gas Futures Stall as Major Snowstorms Heads Toward East Coast

Natural Gas Futures Stall as Major Snowstorms Heads Toward East Coast

Natural gas futures pause on fluctuating weather outlooks, lower LNG demand Adequate supplies seen for remainder of winter despite upcoming cold blasts Northeast cash rallies again on approaching winter storm Natural Gas Futures Stall as Major Snowstorms Heads Toward East Coast Natural gas futures shifted into neutral Tuesday amid some inconsistencies in the weather data…

December 16, 2020
IEA, OPEC Each Lower Estimates for Global Oil Demand, Citing Weak Transportation Fuel Consumption

IEA, OPEC Each Lower Estimates for Global Oil Demand, Citing Weak Transportation Fuel Consumption

Demand for transportation fuel remains weak amid a still-raging global pandemic, forcing downward revisions to oil consumption for 2020 and next year. The International Energy Agency (IEA) said Tuesday in its Oil Markets Report for December that it lowered its demand estimate for this year by 50,000 b/d and its projection for next year by…

December 15, 2020
Phillips 66 Cuts 2021 Capex on Challenging Market Conditions

Phillips 66 Cuts 2021 Capex on Challenging Market Conditions

Houston-based energy manufacturing and logistics firm Phillips 66 is targeting a 2021 capital expenditure (capex) budget of $1.7 billion, down from $3.1 billion year/year. “Our 2021 capital budget is supported by our diversified portfolio, strong financial position and capital discipline,” said CEO Greg Garland. “We continue to focus on reducing capital expenditures as market conditions…

December 14, 2020
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