Coronavirus

The oilfield services (OFS) sector has been looking for a break, brought low for several quarters by reduced exploration and development spending and further upended by Covid-19, but it’s expected to be a long, hard slog before activity moves into high gear. Meanwhile, the jobs picture for the energy industry, and in particular the OFS…

Latin American liquefied natural gas (LNG) imports have dropped significantly since March from the same period last year, but it is unclear to what extent the Covid-19 pandemic has contributed to the decline.

Editor’s Note: The following segment is one in a series by NGI’s LNG Insight focused on exploring how the global liquefied natural gas (LNG) market works. The conversations in this series will also analyze news and the issues that matter most to the industry in North America and beyond.

Countries across the world are slowly starting to ease Covid-19 restrictions and reopen their economies, including demand centers in Europe and Asia, providing some optimism for liquefied natural gas (LNG).

Federal government agencies continue to plan some form of assistance, possible including bridge loans, to help the oil and natural gas industries shoulder the impacts of the global coronavirus pandemic and resulting economic slowdown, President Trump said Tuesday.

Italian supermajor Eni SpA reported a steep drop in natural gas sales during the first quarter as the Covid-19 outbreak began destroying demand in Asia and Europe.

With U.S. producers now shutting in wells across the United States, the natural gas markets are likely to improve as the decline in associated production from oil “could lift North American prices sooner than previously thought,” Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.

One month after it cut expenditures by almost one-third, Houston’s Noble Energy Inc. has joined a growing group of peers in reducing even more spend, with the hit mostly to U.S. onshore operations, while it furloughs employees and cuts salaries in response to the never-ending impacts from the Covid-19 pandemic and sharp decline in oil and gas demand.

Oil and natural gas operators have begun taking a second look at spending cuts implemented in March and are shelving projects as a return to “normal” is not forecast until demand comes closer to matching supply.