covid-19

Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Stung by Steep 2Q Decline in Commodity Prices, Total Sees More Volatility Ahead

Total SE recorded a big loss in the second quarter and took an $8.1 billion impairment as oil, natural gas and liquefied natural gas (LNG) prices all declined precipitously and the global economy reeled from the Covid-19 pandemic. An oil market crisis, historically low natural gas prices and the economic slowdown in Europe decreased petroleum…

July 31, 2020
Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

Tulsa-based Helmerich & Payne Inc. (H&P), which fabricates and operates a fleet of high-performance drilling rigs around the world, is aligning operations toward performance-based commercial models rather than the industry standard dayrates to build customer support, CEO John Lindsay said Wednesday. What historically were separate U.S. Land Operations and HP Technologies business segments have been…

July 29, 2020
Canada Oil, Gas Drilling in Modest Recovery, but Covid-19 Saps Expectations

Canada Oil, Gas Drilling in Modest Recovery, but Covid-19 Saps Expectations

Canadian oil and gas drilling has begun to recover, but it remains well below expectations before the Covid-19 pandemic inflicted a near total halt on field activity. As of this week the Canadian Association of Oilwell Drilling Contractors (CAODC) reported 42 rigs in action including 31 in Alberta, eight in British Columbia (BC) and three…

July 24, 2020
Covid-19 Mitigation Delayed Some Natural Gas Power Plant Construction, Says EIA

Covid-19 Mitigation Delayed Some Natural Gas Power Plant Construction, Says EIA

Data from the U.S. Energy Information Administration (EIA) for March and April showed that coronavirus mitigation efforts prompted more delays than average in the commercial operation dates of proposed electric generator projects, including natural gas combustion turbine and natural gas combined-cycle plants.  The EIA’s Preliminary Monthly Electric Generator Inventory found that 31 natural gas combustion…

July 16, 2020
EIA Says U.S. Energy Output Sinks to Disaster-Level Lows in April

EIA Says U.S. Energy Output Sinks to Disaster-Level Lows in April

U.S. energy supplies took a hit in April that typically occurs only in times of natural disasters, with natural gas production dropping to levels not seen since Hurricane Issac ravaged the Gulf Coast in 2012, according to the Energy Information Administration (EIA). Lower 48 natural gas production fell by 2.6 Bcf/d in April, marking the…

July 14, 2020
Covid-19 Still Battering Canada’s OFS, Supply Sectors With Job Losses

Covid-19 Still Battering Canada’s OFS, Supply Sectors With Job Losses

Employment continued to shrink during June in Canadian oil and natural gas fields, with service and supply contractors suffering the deepest losses, according to the industry’s workforce monitoring agency. Cuts of 5,600 field personnel accounted for 84% of 6,700 layoffs recorded last month by Calgary-based Petroleum Labor Market Information (PetroLMI) from Statistics Canada surveys. The…

July 14, 2020
Washington State Regulators React to Covid-19 in Setting Puget Sound Rates

Washington State Regulators React to Covid-19 in Setting Puget Sound Rates

The Covid-19 pandemic played a central role in how state of Washington regulators finalized a $205 million general rate request from Bellevue, WA-based Puget Sound Energy (PSE), and they indicated that will be their practice for as long as the virus is present. New natural gas and electric rates are effective July 20. In the…

July 9, 2020
OCS Governors Call for Increased Offshore Access, Revenue Sharing on Impact from Covid-19

OCS Governors Call for Increased Offshore Access, Revenue Sharing on Impact from Covid-19

Both revenue sharing and energy production should be increased on the Outer Continental Shelf (OCS), according to a group of governors representing Alabama, Alaska, Louisiana, Mississippi and Texas. “As our states recover from both Covid-19 and the economic downturn, we need to build a path to recovery by looking for ways to stimulate our respective…

July 6, 2020
Natural Gas Rigs Unchanged in U.S. as Post-Covid Declines Leveling Off

Natural Gas Rigs Unchanged in U.S. as Post-Covid Declines Leveling Off

The U.S. natural gas rig count remained unchanged at 75 during the week ended Friday, while a modest decrease in oil activity showed upstream activity finally leveling off after a prolonged period of Covid-induced retrenchment. According to the latest figures from Baker Hughes Co. (BKR), the overall U.S. rig count posted its smallest weekly decline…

June 26, 2020
Shell CEO Sees Covid-19 as Opportunity for ‘Green Recovery,’ as Net-Zero Emissions Goals Advance

Shell CEO Sees Covid-19 as Opportunity for ‘Green Recovery,’ as Net-Zero Emissions Goals Advance

Royal Dutch Shell plc is not backing off its ambition to become a net-zero emissions energy operator by 2050, and in fact, management expects Covid-19 to accelerate the energy transition. In a recorded video for the global workforce, CEO Ben van Beurden said Tuesday there was an “opportunity of a green recovery” as the world…

June 24, 2020
‹ Previous 1 2