Demand

Following Expected Record 2021, Kinder Morgan Projecting ‘Robust’ Results in New Year

Following Expected Record 2021, Kinder Morgan Projecting ‘Robust’ Results in New Year

Kinder Morgan Inc. (KMI) said it expects to post banner full-year 2021 results and drive even stronger earnings next year. Bolstered by exceptional winter demand for natural gas earlier in the year, the Houston-based operator is projecting it would earn 76 cents/share this year. Seismic first quarter sales gains made amid surging demand and soaring…

December 8, 2021
Natural Gas Forward Prices Soften on Lack of Cold, but Strong Export Demand to Continue

Natural Gas Forward Prices Soften on Lack of Cold, but Strong Export Demand to Continue

A steep sell-off early in the Oct. 28-Nov. 3 period because of generally unsupportive weather sent natural gas forward prices tumbling by double digits. December forward prices plunged an average 17.0 cents, while the balance of winter (December-March) slid 16.0 cents, according to NGI’s Forward Look. Summer (April-October) prices also softened, but losses were smaller…

November 5, 2021
ExxonMobil Hikes Low-Carbon Spending to $15B, a Four-Fold Hike to 2027

ExxonMobil Hikes Low-Carbon Spending to $15B, a Four-Fold Hike to 2027

ExxonMobil has boosted its annual spending on low-carbon ventures to $3 billion a year over the next five years, four times higher than initially planned, with expanded emissions targets set to be issued later this year, CEO Darren Woods said Friday. Woods detailed the $15 billion capital now earmarked during a wide-ranging conference call. Analysts…

October 29, 2021
Domestic Oil Stocks Dip as Petroleum Demand Roars Back, Output and Imports Decline

Domestic Oil Stocks Dip as Petroleum Demand Roars Back, Output and Imports Decline

U.S. crude inventories declined for the first time in four weeks as demand for gasoline and other fuels derived from oil bounced back and imports and production slid lower. The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 15, excluding those in the Strategic Petroleum Reserve, decreased by 400,000…

October 20, 2021
OPEC Downgrades Oil Demand Expectations for 2021, but Consumption Holds Strong

OPEC Downgrades Oil Demand Expectations for 2021, but Consumption Holds Strong

While strong, consumption of oil proved uneven through the first nine months of 2021, interrupted by outbreaks of the coronavirus Delta variant. This led the world’s largest cartel of crude producers to downgrade its demand outlook for the full year. The Organization of the Petroleum Exporting Countries (OPEC), however, said Wednesday that lofty natural gas…

October 13, 2021
Exports, Industrial Sector Seen Driving U.S. Natural Gas Demand This Winter

Exports, Industrial Sector Seen Driving U.S. Natural Gas Demand This Winter

A growing industrial sector and record-high export activity are expected to be key drivers of increased U.S. natural gas demand this winter, according to a leading trade group. Liquefied natural gas (LNG) exports are expected to grow by 16% over last winter, while pipeline exports to Mexico are expected to get an 18% boost, the…

October 7, 2021
With Imports Up, U.S. Crude Inventories Climb a Second Week

With Imports Up, U.S. Crude Inventories Climb a Second Week

Domestic petroleum demand rose last week, but strong crude production and imports ended up driving U.S. inventory gains for a second straight week, the Energy Information Administration (EIA) said. EIA’s Weekly Petroleum Status Report, released Wednesday, showed production climbed to 11.3 million b/d for the week ended Oct. 1, up from 11.1 million b/d the…

October 6, 2021
Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Oil, Gas to Continue Growing to Meet Rising Global Energy Demand Through 2050, Says EIA

Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA). In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy…

October 6, 2021
Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural Gas Futures Open Week Sharply Higher, but Fail to Maintain $6 Handle

Natural gas futures traded above $6.000/MMBtu to start the week as global supply concerns continued to infiltrate the U.S. gas market. With domestic gas demand at a seasonal low, however, early gains were pared and the November Nymex gas futures contract settled at $5.766, still up a significant 14.7 cents from Friday’s close. Spot gas…

October 4, 2021
November Natural Gas Futures Debut with Thud as Volatility Reigns; Cash Prices Drop in Tandem

November Natural Gas Futures Debut with Thud as Volatility Reigns; Cash Prices Drop in Tandem

Natural gas futures floundered on Wednesday as November took over as the front month and markets mulled waning weather-driven demand that could free up more domestic supply for storage ahead of winter. The November Nymex contract, in its first session as the prompt month, shed 40.3 cents day/day and settled at $5.477/MMBtu. December dropped 39.0…

September 29, 2021