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