Prepared

Last year Canada’s natural gas and oil producers suffered their weakest performance since 2002, but the downturn prepared the country’s energy sector for a promising future, according to the Canadian Annual Energy Survey, an annual review of the top producers by PricewaterhouseCoopers (PwC).

Last year Canada’s natural gas and oil producers suffered their weakest performance since 2002, but the downturn prepared the country’s energy sector for a promising future, according to the Canadian Annual Energy Survey, an annual review of the top producers by PricewaterhouseCoopers (PwC).

The heads of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said last week they are prepared to issue a joint report to Congress in two weeks that will address key areas in which their regulatory schemes are different. The government agencies will also recommend legislative and regulatory actions to address those differences.

The heads of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said Wednesday they are prepared to issue a joint report to Congress in two weeks that will address key areas in which their regulatory schemes are different. The government agencies will also recommend legislative and regulatory actions to address those differences.

June natural gas and crude futures took another break from the upside Wednesday as light profit-taking was observed and traders prepared for what will likely be another bearish natural gas storage report Thursday morning for the week ending May 8. Prompt-month natural gas dropped 11.6 cents to close Wednesday’s regular session at $4.333.

While the natural gas industry had braced itself for a bearish storage withdrawal for the week ended March 20, it was not prepared to hear of the year’s first injection when the Energy Information Administration’s (EIA) natural gas storage report was released Thursday morning. After the EIA reported that 3 Bcf was added to underground inventories, natural gas futures dropped more than 30 cents in Thursday morning trade and ended up closing the regular session at $3.947, down 38.2 cents from Wednesday’s finish.

Wall Street’s credit influenza will send shivers through the energy patch before long, and the FERC is prepared, Commission Chairman Joseph Kelliher said Thursday. Meanwhile, financial markets continued triage, with players aligning to deliver life-giving capital transfusions to the stricken.

The Securities and Exchange Commission’s (SEC) Division of Corporation Finance and Office of Chief Accountant Thursday said they have prepared for SEC consideration recommendations to update and modernize the requirements for oil and natural gas companies to report reserves — a move that has been widely supported by the industry.

Liquefied natural gas (LNG) demand and production may be slowing as a result of price and project cost increases, according to a recent study prepared for Repsol Energy North America (RENA) by Jensen Associates. Supply and demand trends suggest a currently tight market will loosen, creating opportunities for long-range contracting as well acting as a counter to further price increases.