Oil and natural gas activity in the global offshore and on international land carried Houston-based NOV Inc. during the third quarter, as the North American onshore market retreated, CEO Clay Williams said Friday. During a conference call to discuss quarterly results, Williams said the oilfield technology specialist improved revenues and margins on the backs of…
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Emerging LNG Projects Forecast to Push U.S. Natural Gas Exports to 13.3 Bcf/d in 2024
U.S. LNG exports could reach 13.3 Bcf/d next year as developers prepare to launch the initial phases for two large-scale projects on the Gulf Coast, according to the Energy Information Administration (EIA). As the supply of liquefied natural gas took a global spotlight last during after Russia’s invasion of Ukraine, U.S. export projects also garnered…
LNG Exports Seen Boosting North American Natural Gas Demand Through Next Decade and Beyond
North American natural gas demand is likely to grow by roughly 25% over the next 10 years and stay resilient through 2050 as the world shifts to lower-carbon energy, according to new projections from Wood Mackenzie. LNG exports are expected to drive the incremental demand, which will largely be supplied through continued growth in associated…
Global Natural Gas Demand Projected to Decline Through Remainder of Year, IEA Says
Global natural gas demand is expected to remain flat in 2023 with modest growth in the Asia-Pacific region offset by projected declines in Europe and North America, according to the International Energy Agency (IEA). The world’s natural gas consumption declined 1.5% year/year in 2022, driven largely by a sharp increase in prices after Russia invaded…
TC Energy Eyeing Alberta Natural Gas Egress as CGL, Southeast Gateway Advance
TC Energy Corp. is working to expand natural gas takeaway capacity from the Western Canadian Sedimentary Basin (WCSB) amid record demand for the fuel across North America, management said. CEO François Poirier hosted a conference call last Friday to discuss the Calgary-based pipeline giant’s first quarter earnings. He was joined by Greg Grant, president of…
North American Coal Retirements, Asian LNG Demand Drive Global Natural Gas Rebound in 2023, GECF Says
Global natural gas consumption is expected to rebound this year as easing price volatility and rising economic activity boosts LNG imports from China and South Asia and North America’s power market continues to cut coal-fired capacity, according to the Gas Exporting Countries Forum (GECF). Researchers with the organization headquartered in Qatar in the annual report…
North American Natural Gas Price Outlook – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub & Flow. NGI senior editors Andrew Baker and Kevin Dobbs discuss the outlook for North American natural gas prices in 2023. They address factors including a mild weather start to the year, robust U.S. production, the Freeport LNG outage and the potential for future…
Helmerich & Payne Sees Strong Rig Demand in North America, Growing International Business
With oil and natural gas development rising, Tulsa-based driller Helmerich & Payne Inc. (H&P) is on course to achieve the best economic returns in eight years, CEO John Lindsay said recently. “We are beginning to recognize economic returns at levels that we have not experienced since 2014,” Lindsay said during the fiscal fourth quarter quarter…
Halliburton ‘Very Encouraged’ About 2023 North American Oilfield Services Outlook
International natural gas and oil market activity is accelerating, and North American service capacity is tightening, with pricing “moving up in both markets,” Halliburton Co. CEO Jeff Miller said Tuesday. Miller helmed a conference call with analysts to discuss third quarter results, noting the Houston-based oilfield services (OFS) giant is using the technology honed in…
Mexico’s CFEi Reports 7% Rise in First Quarter Marketed Natural Gas Volumes
Mexico’s CFE International LLC (CFEi) reported a 7% year/year increase in natural gas sales transactions during the first quarter, 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 3.54 Bcf/d of gas in the first quarter, up…