Coronavirus

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
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