April natural gas futures bounced off technical support at the start of the week, potentially setting a near-term floor for prices ahead of the shoulder season contract month rolling off the board this week. The April New York Mercantile Exchange (Nymex) contract traded as low as $1.589/MMBtu Monday before moving higher, settling down 4.4 cents…
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What Do Recent Earnings Calls and Consensus Forecast for Natural Gas in 2024? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Pat Rau, director of strategy and research, delves into Wall Street’s expectations for North American natural gas activity and prices over the next few years. Rau also reads market tea leaves from recent oilfield service providers’ 4Q2023 earnings calls,…
BP Sees Gains in Global Trading Arm and Forecasts LNG Supply to Grow
A new executive team has taken the reins at BP plc, but the strategy remains focused on providing energy solutions while remaining pragmatic because the world continues to need natural gas and oil, CEO Murray Auchincloss said. Auchincloss discussed the London-based supermajor’s fourth quarter and full-year results during a conference call Tuesday. Formerly CFO, Auchincloss…
NGI LNG Columnist Brad Hitch Talks Big Changes in the Global Natural Gas Market – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow. Senior LNG editor Jamison Cocklin and special contributor Brad Hitch discuss Hitch’s new column that was launched for NGI’s LNG Insight earlier this year. Hitch, an industry veteran and a former LNG trader, discusses the need for better information in the global…
ExxonMobil’s 3Q Preview Indicates Strong Returns on Natural Gas Price Strength
ExxonMobil is looking to report better-than-expected profits for the third quarter, lifted by stronger natural gas prices. The Irving, TX-based supermajor previewed the quarterly results In a Securities and Exchange Commission Form 8-K filing. The filing provides a “perspective regarding market and planned factors affecting 3Q2022,” relative to sequential results, the company said. “These factors…
Natural Gas Markets Mull Recession Fears, Europe Storage Outlook Heading into Shoulder Season
With a recession appearing more likely in 2023 and uncertainty swirling around natural gas flows from Russia to Europe, natural gas markets may be in for a bumpy ride heading into the shoulder and winter seasons. “Our baseline is that you will see a recession in 2023,” Macquarie Group Ltd.’s David Doyle, head of economics,…
September Baseload Natural Gas Prices Trending Higher on Lingering Supply Worries, European Energy Crisis
Natural gas prices are set to remain strong for September baseload gas amid domestic supply concerns and surging global prices ahead of the peak winter season, NGI’s Bidweek Alert (BWA) data showed. The majority of U.S. locations escaped wild swings month/month, but the hikes to already elevated prices are noteworthy given moderating weather across much…
As Henry Hub Soars, EIA Predicts Rising U.S. Production, LNG Exports in 2022
U.S. dry natural gas production should average 96.9 Bcf/d in April and 97.4 Bcf/d for full-year 2022, which would reflect a 3.8 Bcf/d increase over 2021 levels, according to updated forecasting from the Energy Information Administration (EIA). As the market has keyed in on supply adequacy fears and sent prices soaring well above $6.500/MMBtu this…
Mexico’s CFEi Reports 14% Surge in 2021 Marketed Natural Gas Volumes
Mexico’s CFE International LLC (CFEi) reported a 14% year/year increase in natural gas sales transactions during 2021, even as many large marketers posted declines, according to NGI’s Top North American Natural Gas Marketers ranking. CFEi, a fuel procurement and marketing arm of state-owned power utility Comisión Federal de Electricidad (CFE), transacted 3.53 Bcf/d of gas…
ConocoPhillips’ Lance Urges Natural Gas, Oil Industry to ‘Stay Connected’ in Midst of Ukraine Crisis
In the wake of a ban on Russian oil and natural gas to the United States, Tuesday talks at CERAWeek in Houston notably shifted to energy security and geopolitics, but ConocoPhillips CEO Ryan Lance had a few choice words for anyone who believes this is a perfect time to keep the U.S. natural gas and…