pandemic

ConocoPhillips Sees ‘External Pressures’ Mounting for Energy Industry as Biden Presidency Begins

ConocoPhillips Sees ‘External Pressures’ Mounting for Energy Industry as Biden Presidency Begins

The Lower 48 will again factor heavily into ConocoPhillips’ operating plans this year despite what the company’s chief executive said are “external pressures” facing the industry as the Biden administration appears ready to more actively regulate oil and natural gas operations.  Meanwhile, the world’s largest independent continues grappling with a global economy weakened by the…

February 2, 2021
Texas Oil, Gas Steadily Recovers as Industry Jobs Return, Crude Supply Steadies

Texas Oil, Gas Steadily Recovers as Industry Jobs Return, Crude Supply Steadies

The Texas oil and natural gas industry is poised to find its “cyclical trough” early this year, according to one of the state’s leading industry groups.  The state’s share of total U.S. oil production had grown to roughly 42% in 2019, and by the end of 2020 its share was up to 44%, according to…

February 2, 2021
Fading Expectations for Frigid Temperatures Weigh Down Natural Gas Futures

Fading Expectations for Frigid Temperatures Weigh Down Natural Gas Futures

Natural gas futures plunged on Tuesday after forecasts over the holiday weekend trended warmer for late January and early next month, diminishing prior expectations for a widespread winter freeze that would fuel robust heating demand. The February Nymex gas futures contract settled at $2.546/MMBtu, down 19.1 cents day/day. March fell 16.7 cents to $2.529. Spot…

January 19, 2021
Warmer Weather Outlook Snaps 2021 Win Streak for Natural Gas Futures

Warmer Weather Outlook Snaps 2021 Win Streak for Natural Gas Futures

Natural gas futures faltered on Friday, ending a five-day streak of positive finishes. Traders focused on a shift in weather forecasts that pointed to a potential delay in the onset of widespread freezing temperatures from early in the third full week of January to later in the month. The February Nymex gas futures contract settled…

January 8, 2021
January Natural Gas Futures Climb After Winter Freeze, Inventory Decline; Cash Prices Lose Luster

January Natural Gas Futures Climb After Winter Freeze, Inventory Decline; Cash Prices Lose Luster

Natural gas futures advanced Friday following forecasts for freezing temperatures, steadily strong liquefied natural gas (LNG) levels and a bullish withdrawal from storage. The January Nymex contract settled at $2.700/MMBtu, up 6.4 cents day/day. February rose 4.4 cents to $2.681. NGI’s Spot Gas National Avg., meanwhile, dropped 55.0 cents to $3.010. Traders took profits and…

December 18, 2020
Natural Gas Production Declines from Seven Major U.S. Regions to Continue into 2021, EIA Says

Natural Gas Production Declines from Seven Major U.S. Regions to Continue into 2021, EIA Says

The downtrend in natural gas production from seven major U.S. producing regions that has persisted for much of 2020 will extend into 2021, according to updated projections from the Energy Information Administration (EIA). Gas production from the Anadarko, Appalachian and Permian basins, as well as from the Bakken, Eagle Ford, Haynesville and Niobrara formations, is…

December 15, 2020

Coastal GasLink Pipeline Progressing; TC Energy Optimistic for Keystone XL

Despite protest blockades and the Covid-19 pandemic, work is nearly one-third finished on the Coastal GasLink (CGL) pipeline project across northern British Columbia (BC) for the LNG Canada export terminal on the Pacific coast, according to TC Energy Corp. The C$6.6 billion ($5 billion) BC pipeline project is 31% finished, TC Energy said. The completion…

November 18, 2020
Low Commodity Prices Again Weigh on Total’s LNG Operations

Low Commodity Prices Again Weigh on Total’s LNG Operations

Total SE returned to profitability in the third quarter as the global economy recovered from lows brought on by the Covid-19 pandemic, but the company continues to face low global commodity prices and uncertainty as the year comes to a close.  The French supermajor took an $8.1 billion impairment in the second quarter when commodity…

November 3, 2020
Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Warns Pandemic Threatening Through September, but Common Ground in Election

Chevron Corp., savaged in the second quarter by the hurricane-force winds of Covid-19, warned Friday that the pandemic may choke profits through September.  The San Ramon, CA-based major posted an $8.3 billion loss (minus $4.44/share), compared with net profits a year earlier of $4.3 billion ($2.27). U.S. upstream operations lost $2.1 billion, versus year-ago earnings…

July 31, 2020
Natural Gas, Oil Companies Continue Carrying Covid-19 Philanthropic Endeavors Onward

Natural Gas, Oil Companies Continue Carrying Covid-19 Philanthropic Endeavors Onward

Though months have passed since the coronavirus pandemic first began to impact individuals and communities across the United States, many organizations have proven their determination by continuing to assist however they can. While many countries are emerging from lockdowns and showing signs of recovery, Royal Dutch Shell plc continues to assist in the global fight…

July 8, 2020
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