enery prices

Mexico’s state power company Comisión Federal de Electricidad (CFE) has more than doubled the utilization rate of its natural gas pipelines since the current government took over in 2018, according to energy minister Rocío Nahle.  Nahle addressed Mexico’s senate energy committee on Thursday (Dec. 8) about the state of the sector. CFE is Mexico’s largest…

Since Russia’s unprovoked invasion of Ukraine, countries around the world are shifting their priorities toward energy affordability, according to a group of experts who spoke in New York City on Wednesday. The last 10 months have brought the issues of energy security, climate change and affordability “into contention,” according to Fahad Alajlan, president of Saudi…

A six-year streak of provincial budget deficits in Alberta ended in 2021 thanks to higher oil and natural gas prices that drove a five-fold increase by government royalties, according to an annual treasury review. In the Alberta provincial treasury annual review for the year ended March 31, 2022, Finance Minister Jason Nixon reported record royalties…

Diamondback Energy Inc. is aiming to keep oil production flat in the Permian Basin this year, part of a larger trend among Lower 48 exploration and production (E&P) firms to ensure healthy shareholder returns amid a bullish price cycle. “We are at the beginning of an incredible period of value creation for the industry, and…

Continental Resources Inc.’s recent expansions into the Powder River and Permian basins have given it the inventory and optionality needed to capitalize on strong oil and natural gas prices, management said.  In a conference call to discuss fourth quarter and full-year 2021 earnings, CEO Bill Berry said that “as an unhedged oil producer, we were…

Intercontinental Exchange Inc. (ICE) has reported fresh records for Asian natural gas futures in August, with Japan-Korea Marker (JKM) volumes surpassing 100,000 lots traded during the month. ICE said JKM futures reached 106,529 lots traded, close to double August 2020 volumes. In addition, open interest ended the month at a record 114,531 lots. The news…

A new oil futures contract is coming to the Gulf Coast. Magellan Midstream Partners L.P., Enterprise Products Partners LP and Intercontinental Exchange Inc. (ICE) said Monday they would partner to create a contract for the physical delivery of crude in the Houston area. The companies said the Midland WTI American Gulf Coast contract (ICE: HOU)…

The new year could see the global oil market swing from its current state of oversupply to some of the highest monthly supply deficits in years as the rollout of Covid-19 vaccines propels a recovery in demand, according to experts. Raymond James & Associates Inc. analysts said Monday they expect “hefty” crude oil inventory draws…

Royal Dutch Shell plc expects to impair up to $22 billion in the value of its global natural gas and oil assets for the second quarter, citing the challenges from Covid-19 that have slammed commodity prices and energy demand. The supermajor said it was adapting “to ensure the business remains resilient.” A revised forecast for…