Economy

Oil, Natural Gas Lenders Optimistic on 2022 Growth, Cautious Long Term

Oil, Natural Gas Lenders Optimistic on 2022 Growth, Cautious Long Term

Banks that actively lend to the oil and natural gas sector are upbeat about strong commodity prices and rising production activity that necessitate new and expanded exploration and drilling projects – and financing to make it happen. Some are reporting loan growth as a result. Others look for increased lending to develop as the year…

April 29, 2022
Accelerating Inflation Presents Natural Gas, Oil Companies Potential for Profits and Pitfalls

Accelerating Inflation Presents Natural Gas, Oil Companies Potential for Profits and Pitfalls

Soaring energy prices – driven most recently by spikes in crude – helped drive the U.S. inflation rate to a 40-year high in January, creating both opportunity and risk for oil and natural gas companies. The U.S. Bureau of Labor Statistics (BLS) said Thursday the consumer price index (CPI) jumped 7.5% in January from the…

February 10, 2022
U.S. OFS Employment Swings Back to Growth Mode

U.S. OFS Employment Swings Back to Growth Mode

The U.S. oilfield services (OFS) and equipment sector added an estimated 7,450 jobs in December, according to the Houston-based Energy Workforce & Technology Council. “As oil demand has pushed higher, it’s heartening to see continued job growth in the sector,” said Council CEO, Leslie Buyer. “The sector has recovered more than half of the jobs…

January 13, 2022
Canadian PM Takes Hard Line on Oil, Natural Gas Emissions Ahead of Election

Canadian PM Takes Hard Line on Oil, Natural Gas Emissions Ahead of Election

Canadian Prime Minister Justin Trudeau has singled out the oil and gas industry as a target for toughened pollution policing in his campaign for reelection of his Liberal government in a Sept. 20 national vote. “Let’s be realistic,” said Trudeau as he unveiled an environmental plank in the party platform at a weekend rally in…

August 31, 2021
Texas E&P Activity, Employment Expanding on Strengthening Natural Gas, Oil Prices

Texas E&P Activity, Employment Expanding on Strengthening Natural Gas, Oil Prices

The upstream oil and natural gas economy in Texas is finally signaling a new cycle of expansion in activity following the double-barrel contraction in 2019 and 2020, according to economic indicators. The Texas Petro Index (TPI), created and overseen by petroleum economist Karr Ingham of the Texas Alliance of Energy Producers, through June had increased…

July 28, 2021
Natural Gas, Oil Found to Support Sizeable Chunk of U.S. GDP, Including Pennsylvania

Natural Gas, Oil Found to Support Sizeable Chunk of U.S. GDP, Including Pennsylvania

Pennsylvania’s oil and natural gas industry supported 6.1% of the total jobs and 9.7% of its gross domestic product (GDP) in 2019, according to a new study commissioned by the American Petroleum Institute (API). The industry overall supported 480,000 total jobs (102,500 direct and 377,800 indirect) and contributed $78.4 billion ($39.4 billion direct and $38.9…

July 28, 2021
June Natural Gas Stumbles as Forecasts Point to Lighter Demand, Cyberattack Unsettles Markets

June Natural Gas Stumbles as Forecasts Point to Lighter Demand, Cyberattack Unsettles Markets

Natural gas futures gave up ground on Monday as traders mulled waning weather-driven demand and the potential implications of a cybersecurity attack on the largest fuel pipeline in the United States.    The June Nymex contract dropped 2.6 cents day/day and settled at $2.932/MMBtu. July fell 2.6 to $2.978. NGI’s Spot Gas National Avg. advanced 5.5…

May 10, 2021
Higher Commodity Prices, Strengthening Economies Improve Outlook for Global Energy Demand, Moody’s Says

Higher Commodity Prices, Strengthening Economies Improve Outlook for Global Energy Demand, Moody’s Says

Moody’s Investors Service has upgraded its outlook for the global energy industry, citing a sustained increase in commodity prices and expectations for global economic growth to drive increased oil and gas demand over the next 12 to 18 months. The firm said it expects that, as vaccine programs become prevalent and the coronavirus outbreaks fade,…

May 3, 2021
Chevron Prioritizing ‘Highest Value’ Investments, Pacing Activity to Match Demand

Chevron Prioritizing ‘Highest Value’ Investments, Pacing Activity to Match Demand

Chevron Corp. has regiggered its global natural gas and oil portfolio over the past year, with the priority today going to the “highest value investments,” CFO Pierre Breber said Friday.Breber shared some insight into first quarter performance and the outlook ahead during a conference call. He explained how the San Ramon, CA-based energy major has…

April 30, 2021
As Temperatures Fall, Cash Prices Advance and May Natural Gas Futures Tread Water

As Temperatures Fall, Cash Prices Advance and May Natural Gas Futures Tread Water

Natural gas futures traded in the green much of Wednesday, lifted by colder weather trends that pointed to increased heating demand through the second half of April. Near-record liquefied natural gas (LNG) levels continued to provide price support as well. But a sixth-straight day of gains proved elusive as traders took profits late in the…

April 14, 2021
‹ Previous 1 2 3 14