natural gas

January Natural Gas Futures Expire Lower Despite Colder Turns in Latest Weather Data; Cash Soft

January Natural Gas Futures Expire Lower Despite Colder Turns in Latest Weather Data; Cash Soft

Natural gas futures surged midweek as Old Man Winter appeared ready to ring in the new year. Even with the potential for cold weather to last a couple of weeks, though, the January Nymex futures contract expired 3.1 cents lower at $4.024/MMBtu. The incoming prompt-month February contract settled at $3.850, down 3.5 cents from Tuesday’s…

December 30, 2021
Mexico’s Pemex Awards $1B Contract for Ixachi Natural Gas Conditioning Plant

Mexico’s Pemex Awards $1B Contract for Ixachi Natural Gas Conditioning Plant

A joint venture (JV) led by Malaysia’s Coastal Contracts Bhd has secured a roughly $1.06 billion contract from Mexican state oil company Petróleos Mexicanos (Pemex) to build and operate a natural gas conditioning plant at the Ixachi onshore gas and condensate field in Veracruz state. The plant will have capacity to treat 300 MMcf/d of…

December 29, 2021
Natural Gas Futures Hold Above $4.00 Ahead of Contract Expiration; Cash Rising

Natural Gas Futures Hold Above $4.00 Ahead of Contract Expiration; Cash Rising

Natural gas futures held onto the extensive gains they accumulated at the start of the holiday week, slipping only a few pennies on additional warming in the forecast. The January Nymex contract settled Tuesday at $4.055/MMBtu, off only a half-cent from Monday’s close. The February contract slipped 5.7 cents to $3.885. At A Glance: Weather…

December 29, 2021
Mexico Seeks to Boost Natural Gas Output as Fuel Self-Sufficiency Said Close

Mexico Seeks to Boost Natural Gas Output as Fuel Self-Sufficiency Said Close

Mexico Energy Minister Rocío Nahle and Petróleos Mexicanos (Pemex) CEO Octavio Romero Oropeza took the stage during President Andrés Manuel López Obrador’s morning press conference on Tuesday to outline their plans for getting to energy self sufficiency and boosting natural gas output.  With a three-year plan focused heavily on the downstream, the two officials said…

December 28, 2021
Contract Expirations Seen Driving Huge Recovery for Natural Gas Futures; West Coast Cash Rallies

Contract Expirations Seen Driving Huge Recovery for Natural Gas Futures; West Coast Cash Rallies

Upcoming contract expirations and some wintry weather in the forecast fueled a massive recovery for natural gas futures on Monday. The January Nymex futures contract settled at $4.060/MMBtu, up 32.9 cents from last Thursday’s close. The February contract jumped 31.2 cents to $3.942. Spot gas prices were a mixed bag at the start of the…

December 28, 2021
Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Egypt’s importance to the portfolio of APA Corp. is advancing after the Houston independent and its Chinese partner secured updated production sharing contracts (PSC). The PSCs between exploration unit Apache Corp., 66% owner, and minority joint venture (JV) partner China Petrochemical Corp., aka Sinopec, consolidated 90% of gross production into a single concession and refreshed…

December 28, 2021
Natural Gas Futures Erase Nearly All Gains from Three-Day Rally as Coming Cold Loses Intensity

Natural Gas Futures Erase Nearly All Gains from Three-Day Rally as Coming Cold Loses Intensity

As forecasts continued to offer signs of a chillier start to 2022, natural gas futures advanced in early trading Monday. The January Nymex contract was up 14.8 cents to $3.879/MMBtu at around 8:50 a.m. ET, albeit well off the $3.979 high reached in off-hours trading over the weekend. At A Glance: EIA shows stocks at…

December 27, 2021
Mexico Likely to Experience Power Outages in 2022, Industry Expert Says

Mexico Likely to Experience Power Outages in 2022, Industry Expert Says

“It appears the demand for electricity is beginning to grow again as the economy recovers and that, if there is a sudden spike in demand, for example, the supply isn’t going to be there to meet it,” Víctor Florencio Ramírez, directing partner at Mexico City-based consultancy Perceptia21 Energía, told NGI’s Mexico GPI. “We’re going to…

December 23, 2021
Early-January Cold Boosts Natural Gas Futures a Third Straight Day; Wintry Mix Fuels Northeast Cash Gains

Early-January Cold Boosts Natural Gas Futures a Third Straight Day; Wintry Mix Fuels Northeast Cash Gains

After some intraday volatility amid thin pre-holiday trading, natural gas futures shot higher midweek on the increasing likelihood that frigid air would finally descend into vast stretches of the United States. The January Nymex gas futures contract soared 10.7 cents to settle at $3.976 on Wednesday. The prompt month has gained 28.6 cents over the…

December 23, 2021
Mexico’s AMLO Touts U.S. Approval of $596M Deer Park Refinery Purchase

Mexico’s AMLO Touts U.S. Approval of $596M Deer Park Refinery Purchase

Mexico president Andrés Manuel López Obrador said Wednesday that the U.S. Treasury Department has approved Shell plc’s sale of its 50.005% stake in the Deer Park, TX, oil refinery to Mexican state oil company Petróleos Mexicanos (Pemex). The 340,000 b/d refinery currently operates as Deer Park Refining LP, a joint venture between Shell and Pemex.…

December 22, 2021