Oil And Gas

IMF Urges Mexico to Curb Refining Plans, Warns of Policy Uncertainty Weighing on Investment

IMF Urges Mexico to Curb Refining Plans, Warns of Policy Uncertainty Weighing on Investment

In the midst of a global pandemic and a once-in-a century recession, Mexico needs to do a better job of allocating spending and stimulating investment to help with the economic recovery, according to a new report by the International Monetary Fund (IMF). Regarding energy, the IMF team was critical of state oil company Petróleos Mexicanos…

October 8, 2020
Caterpillar Transforming Pressure Pumping Business with Takeover of Weir Oil, Gas Division

Caterpillar Transforming Pressure Pumping Business with Takeover of Weir Oil, Gas Division

Caterpillar Inc., one of the world’s largest construction and mining operators, has agreed to pay $405 million to buy the Texas-based oil and gas division of Weir Group plc. Cat, as it is known, manufactures equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The takeover of Fort Worth-based Weir Oil &…

October 5, 2020
United States, Israel and UAE Strike Energy Pact

United States, Israel and UAE Strike Energy Pact

The United States forged new formal ties with Israel and the United Arab Emirates (UAE), agreeing to collaborate and leverage shared research and technology to develop oil and gas as well as renewable energy sources, the countries’ top energy officials said. The deal followed Israel’s agreements in recent weeks to normalize relations with the UAE,…

October 5, 2020
Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

The oil and natural gas industry has embarked on a lavish borrowing spree this year, underpinned by a federal bailout of corporate debt markets in response to Covid-19, a new analysis has found. Oil and gas companies, already in dire financial straits before the pandemic, have issued $99.3 billion in debt in U.S. markets since…

October 2, 2020
U.S. Oil Producers Escalate Hedges in Wake of Coronavirus Confusion, Price Collapse

U.S. Oil Producers Escalate Hedges in Wake of Coronavirus Confusion, Price Collapse

Energy companies ramped up hedging activity as the demand and price shocks of the coronavirus pandemic roiled the oil and gas sector during the second quarter. A new U.S. Energy Information Administration’s (EIA) analysis of 2Q2020 financial disclosures from 77 publicly traded domestic crude oil producers found that the companies collectively entered into hedging contracts…

October 2, 2020
‘Shale Revolution’ Extends Far Beyond Oil and Gas, Says Yergin

‘Shale Revolution’ Extends Far Beyond Oil and Gas, Says Yergin

The successful combination of hydraulic fracturing with horizontal drilling to squeeze oil and natural gas from shale has vaulted the United States to a global powerhouse, but the positive impacts have been far greater, according to Daniel Yergin. The master storyteller, more often the inquirer, had much to share with NGI in a recent conversation…

October 2, 2020
PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

PE Funds Said Pitching Oil Path Value Over Growth in Low-Price WTI Environment

Existing “bread and butter” portfolios are outshining new investments by private equity (PE), but the bigger focus is on reducing costs amid this year’s unprecedented oil market collapse. Chief Investment Officer Dan Pickering, who launched Pickering Energy Partners (PEP) in 2004 as a predecessor to energy investment and merchant banking firm Tudor, Pickering, Holt &…

October 1, 2020
Mexico Financial Authorities Warn of Additional Pemex Downgrade as Pandemic Rages On

Mexico Financial Authorities Warn of Additional Pemex Downgrade as Pandemic Rages On

Additional credit rating downgrades of Mexican national oil company Petróleos Mexicanos (Pemex) and of the sovereign are among the biggest internal risks facing the country’s economy as it struggles to emerge from a still-raging coronavirus pandemic and economic downturn, according to local authorities. In its latest summary of risks facing the economy issued Tuesday, Mexico’s…

September 30, 2020
Federal Judge Says BLM Chief Serving Unlawfully, Lacks Senate Confirmation

Federal Judge Says BLM Chief Serving Unlawfully, Lacks Senate Confirmation

A federal judge in Montana ruled that William Perry Pendley, the acting director of the U.S. Interior Department’s Bureau of Land Management (BLM), had served illegally for more than a year and blocked him from continuing in the position. “Pendley has served and continues to serve unlawfully…His ascent to acting BLM director did not follow…

September 28, 2020
Colorado Adopts Pre-Production Emissions Standards for Oil, Natural Gas Wells

Colorado Adopts Pre-Production Emissions Standards for Oil, Natural Gas Wells

Colorado’s Air Quality Control Commission (AQCC) on Wednesday unanimously adopted ambitious rules aimed at curbing local air pollution and climate-warming greenhouse gas emissions from state oil and natural gas operations. The rules will require high frequency monitoring for gas leaks during the pre-production phase of wells, representing “the first state regulatory system of its kind…

September 25, 2020