Coronavirus

Vitol Reports 35% Rise in Traded LNG Volumes, Says Fuel to Supply Greater Share of Revenue

Vitol Inc. CEO Russell Hardy said Friday the Swiss commodities giant expects liquefied natural gas (LNG) to account for a growing share of revenue, as delivered volumes rose 35% to 10.5 million metric tons (mmt) in 2019.

March 27, 2020
Bruised OFS Sector Offering E&P Price Concessions, Staff and Salary Cuts, but Is It Enough?

Bruised OFS Sector Offering E&P Price Concessions, Staff and Salary Cuts, but Is It Enough?

The oilfield services (OFS) sector was under pressure before the oil price war was launched and Covid-19 became a pandemic, but the future of many companies appears to hang on a thin thread, battered by the outbreak and plunging oil market. One analyst predicted up to one million jobs could be lost, mostly in the onshore sector.

March 25, 2020
Global Natural Gas, Oil Industry Responding to ‘Unprecedented’ Coronavirus Crisis with Donations, Relief Efforts

Global Natural Gas, Oil Industry Responding to ‘Unprecedented’ Coronavirus Crisis with Donations, Relief Efforts

As natural gas and oil markets have spiraled into unprecedented territory in part on uncertainty over the coronavirus pandemic, a slew of energy companies has stepped up as stewards in many communities across the Lower 48 and abroad.

March 25, 2020
Equinor Halts U.S. Onshore Activity, Joining Oxy, Eni, Aramco in Pullback as Coronavirus Consumes Energy Demand

Equinor Halts U.S. Onshore Activity, Joining Oxy, Eni, Aramco in Pullback as Coronavirus Consumes Energy Demand

Equinor ASA’s Lower 48 operations, mostly centered in the Marcellus and Bakken shales, have been suspended, as it attempts to stem the bleeding across the energy sector from the global pandemic and stinging oil price war.

March 25, 2020
Coronavirus, Commodity Price Crash Prompt North Dakota to Write Prescription for Idle Wells

Coronavirus, Commodity Price Crash Prompt North Dakota to Write Prescription for Idle Wells

The North Dakota Industrial Commission (IC) on Tuesday adopted remedies that may protect oil and gas producers during an expected spike in idle wells from the global economic slowdown.

March 25, 2020

Natural Gas Futures Called Higher as Equity Markets Rise

Taking cues from gains in equity markets as concerns over a coronavirus-driven economic slowdown continue, natural gas futures were trading slightly higher early Friday. The April Nymex contract was up 1.5 cents to $1.669/MMBtu at around 8:45 a.m. ET.

March 20, 2020

FERC, NERC Move to Ensure Grid Reliability During Coronavirus Emergency

FERC and the North American Electric Reliability Corporation (NERC) said Thursday they are taking steps to ensure that operators of the U.S. bulk electric system “can focus their resources on keeping people safe and the lights on” during the coronavirus emergency.

March 20, 2020
Canadian Oil and Gas Sector Moves to Battle Coronavirus; Canada LNG Halves Workforce

Canadian Oil and Gas Sector Moves to Battle Coronavirus; Canada LNG Halves Workforce

The Canadian oil and gas sector is adapting to the Covid-19 pandemic by embracing increasingly diligent measures.

March 18, 2020
Halliburton Furloughs 3,500, More E&Ps Cut Capex on Dire Economic Tumult Ahead from Coronavirus, Oil Price War

Halliburton Furloughs 3,500, More E&Ps Cut Capex on Dire Economic Tumult Ahead from Coronavirus, Oil Price War

More than 3,000 people based in Houston have been furloughed by Halliburton Co., while ConocoPhillips and other big producers continue to cut capital spending in an increasingly dire situation, as the coronavirus and oil price war sink 2020 operating plans.

March 18, 2020
LNG Canada Construction Said On Track, Despite Covid-19

LNG Canada Construction Said On Track, Despite Covid-19

Canada’s C$40 billion ($30 billion) inaugural natural gas export project on the west coast has remained on schedule despite the global Covid-19 outbreak, project managers said in an update.

March 17, 2020