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…
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Snapper Creek Fishing for Advantage with Natural Gas, NGL and Carbon Credits Brokerage
A veteran team of commodities traders is barely two weeks into the launch of brokerage Snapper Creek Energy, with executives already eyeing an expansion overseas early next year. Helmed by CEO Sid Perkins, the Miami-based commodities brokerage launched in mid-October to trade physical natural gas, natural gas liquids (NGL) and carbon credits. Perkins, a former…
Value of U.S.-Canada Natural Gas Trade Jumps 76% in 2022
The dollar value of two-way oil and natural gas trade between Canada and the United States swelled last year to a record $190 billion, as global markets reacted to Russia’s invasion of Ukraine, according to federal researchers. Inflation-adjusted records showed that last year’s energy trade overall between the United States and Canada topped the 2008…
Development of Mexico Secondary Market Requires Regulatory Follow-Through, Says Veteran Trader
“The development of a secondary market for transport capacity will require that regulatory agencies comply with what they’ve already said they were going to do,” Norberto Catalán, Director of Trading and Origination at Énestas, an electricity and natural gas boutique trading shop located in Mexico City, told NGI’s Mexico GPI. “If we really want to…
‘Buying Gas in Mexico is Easier Now,’ Says Gascorp Trader and Industry Expert
“Buying gas in Mexico is easier now in the sense that you have more options to buy the molecule given that you have almost all the big vendors selling wholesale,” Santiago Villarreal Bravo, General Manager at GasCorp, told NGI’s Mexico GPI. “There’s BP, there’s Shell, there’s Trafigura, for example, that are bringing a lot of…
Shell’s Natural Gas Trading Takes 3Q Hit on ‘Extreme’ Price Volatility, but Profits Jump Higher
The world’s largest natural gas trader faced a challenging third quarter, whipped by up-and-down prices related to Russia’s invasion of Ukraine, however, the integrated major overcame issues to post its second highest ever quarterly results. “We are delivering robust results at a time of ongoing volatility in global energy markets,” CEO Ben van Beurden said…
Shell Says LNG Trading in 3Q Sharply Down in ‘Volatile and Dislocated Market’
Market turmoil amid geopolitical standoffs and global inflation is forecast to result in “significantly lower” LNG trading results for the third quarter, Shell plc said Thursday. In a snapshot of quarterly results, the supermajor outlined preliminary numbers, including for its Integrated Gas division, which includes liquefied natural gas trading. Price volatility and higher delivery costs…
Natural Gas Forward Prices Ease Lower as Rally Finally Starts to Lose Steam
As the relentless march higher for natural gas prices finally began to show signs of slowing down, forwards prices recorded discounts throughout the Lower 48 during the April 14-20 trading period, NGI’s Forward Look data show. Fixed prices for May delivery at benchmark Henry Hub eased 6.0 cents lower to end the period a hair…
ICE Reports Fresh Records for Asian, European Natural Gas Futures Trades
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…
CFEi Natural Gas Volumes Surge in 2Q2021 as Top Marketers Post Declines
Mexico’s CFEinteranacional (CFEi) transacted 3.79 Bcf/d of natural gas during the second quarter, up 23% year/year, according to the latest NGI Top North American Natural Gas Marketers rankings. CFEi is the international marketing arm of Mexico’s state-owned power company Comisión Federal de Electricidad (CFE). The increase comes amid surging gas exports via pipeline from the…