Coronavirus

Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Alberta Natural Gas Industry Considered Integral to Economic Recovery Post Covid-19

Natural gas rose to the top of the Alberta government’s economic recovery agenda in a plan announced Tuesday to reverse supply/demand declines that set in well before the Covid-19 pandemic. “For more than 100 years, natural gas has been the cornerstone of Alberta’s energy economy,” said a provincial policy paper titled “Getting Alberta Back to…

October 7, 2020
Permian Output Seen Ramping Up in 2021

Permian Output Seen Ramping Up in 2021

Production in the Permian Basin will likely decline through the year but then begin to increase through at least 2026, even if prices do not rise significantly, according to analysts. “We see the Permian as a relative winner among domestic basins given favorable production economics, independent of a call on higher commodity prices,” the Morgan…

October 6, 2020
Energy Sector Job Losses Said Unlikely to Return Until Late 2021

Energy Sector Job Losses Said Unlikely to Return Until Late 2021

The downturn in the U.S. energy sector caused by the Covid-19 pandemic is “truly like no other” as 70% of the jobs lost this year may not come back until the end of 2021, the Deloitte consultancy said Monday. However, the economic devastation presents opportunities for the oil and gas industry to accelerate its transformation…

October 5, 2020
Column: Covid-19 Means Less Strain on Mexican Gas and Power Systems, and Proves Reliability of Imports

Column: Covid-19 Means Less Strain on Mexican Gas and Power Systems, and Proves Reliability of Imports

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Prud’homme was central to the development of Cenagas, the nation’s natural gas pipeline operator, an entity formed in 2015 as part of…

October 2, 2020
Mexico Financial Authorities Warn of Additional Pemex Downgrade as Pandemic Rages On

Mexico Financial Authorities Warn of Additional Pemex Downgrade as Pandemic Rages On

Additional credit rating downgrades of Mexican national oil company Petróleos Mexicanos (Pemex) and of the sovereign are among the biggest internal risks facing the country’s economy as it struggles to emerge from a still-raging coronavirus pandemic and economic downturn, according to local authorities. In its latest summary of risks facing the economy issued Tuesday, Mexico’s…

September 30, 2020
Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

ConocoPhillips’ strategic pivot in 2016 to a value model rather than a growth model provided the Houston-based independent the financial capability to “make rational economic decisions” during the oil market downturn, including curtailing around 400,000 b/d of production. ConocoPhillips Executive Vice President and Chief Operating Officer Matt Fox said the company’s strong balance sheet, which…

September 29, 2020
Australia PM Looks to Henry Hub Model to Lower East Coast Gas Prices

Australia PM Looks to Henry Hub Model to Lower East Coast Gas Prices

Australian Prime Minister (PM) Scott Morrison wants to create a transparent domestic natural gas hub along the east coast similar to Henry Hub in order to lower gas prices in the region and spur an economic recovery from the Covid-19 pandemic. The idea was among a number of measures that Morrison proposed earlier this month…

September 29, 2020
FTS Joins Expanding List of Oil, Gas Operators Seeking Chapter 11

FTS Joins Expanding List of Oil, Gas Operators Seeking Chapter 11

Top Lower 48 completions expert FTS International Inc. has launched a prepackaged restructuring plan with the support of most of its lenders in a debt-for-equity swap to delever the balance sheet.  Following a restructuring support agreement filed in August, FTS issued an amended plan that received support of nearly 88% of the debtholders. With the…

September 24, 2020
Rebound Predicted for U.S. Industrial Natural Gas Demand in 2021

Rebound Predicted for U.S. Industrial Natural Gas Demand in 2021

More than 5 Bcf/d of natural gas demand from the industrial sector has been lost since the start of the year, brought down by the heavy economic toll of Covid-19, the Department of Energy said. Domestic natural gas demand from the industrial sector measured 20.1 Bcf/d in June, down nearly 1.0 Bcf/d compared to year-ago…

September 22, 2020
LNG Q&A: GECF Secretary Says World’s Leading Natural Gas Exporters Weathering Covid-19 ‘Storm’

LNG Q&A: GECF Secretary Says World’s Leading Natural Gas Exporters Weathering Covid-19 ‘Storm’

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. Yury Sentyurin is the secretary general…

September 17, 2020