pandemic

Italian supermajor Eni SpA reported a steep drop in natural gas sales during the first quarter as the Covid-19 outbreak began destroying demand in Asia and Europe.

The outlook for liquefied natural gas (LNG) is growing dimmer as prices across the world have fallen by double-digits this year and the Covid-19 pandemic continues to ravage demand in markets already awash in supplies, suggesting production shut-ins are practically guaranteed in multiple countries.

Management teams at energy companies across the country have been challenged by the unprecedented Covid-19 pandemic and the decline in oil prices, but employers were given high marks in how they’ve handled the crisis, according to a University of Houston (UH) Energy-led survey.

LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.

LNG Ltd. (LNGL), which is developing natural gas export terminals on the Gulf Coast and in Canada, is facing a cash crunch and warned Tuesday that it might not be in business much longer after a Singapore-based company backed out of a deal to acquire it.

Oil and natural gas operators have begun taking a second look at spending cuts implemented in March and are shelving projects as a return to “normal” is not forecast until demand comes closer to matching supply.

With social distancing orders in place across the world amid the coronavirus pandemic, innovation has been at the forefront of the latest relief efforts by the oil and natural gas industry to assist communities in need.

Covid-19 is continuing to cast its dark shadow across the energy sector, as more layoffs are announced and further reductions to capital spending marred the end to the first quarter.

With social distancing orders in place across the world amid the coronavirus pandemic, innovation has been at the forefront of the latest relief efforts by the oil and natural gas industry to assist communities in need.