Worldwide

The fundamentals of the natural gas industry worldwide have changed, with reduced demand and an oversupply creating a “strategic change” for suppliers and a “tougher” long-term pricing outlook, Wood Mackenzie researchers said in a report.

The fundamentals of the natural gas industry worldwide have changed, with reduced demand and an oversupply creating a “strategic change” for suppliers and a “tougher” long-term pricing outlook, Wood Mackenzie researchers said in a new report.

ConocoPhillips said Friday the company’s third quarter results would be crimped by weak North American natural gas prices. Oil and gas output worldwide is expected to fall 5% from the second quarter.

The global integrated oil and natural gas industry will suffer through a “slow and painful” economic recovery in 2010, with worldwide demand lower at a time when inventories are near record highs, Moody’s Investors Service reported Thursday.

Nine U.S. states made the top 10 in a ranking of 143 jurisdictions worldwide based on their openness to upstream oil and gas activity, according to survey results compiled by the Fraser Institute in its “Global Petroleum Survey 2009.” Jurisdictions in North America, Europe, Australia and New Zealand generally were the most open, according to the 577 industry executives and managers who responded to the survey.

Nine U.S. states made the top 10 in a ranking of 143 jurisdictions worldwide based on their openness to upstream oil and gas activity, according to survey results compiled by the Fraser Institute in its “Global Petroleum Survey 2009.” Jurisdictions in North America, Europe, Australia and New Zealand generally were the most open, according to the 577 industry executives and managers who responded to the survey.

America’s current recession is the worst since the 1930s and “the most synchronized” with failing markets worldwide, Standard & Poor’s (S&P) David Wyss, chief economist, told reporters last Monday. Unfortunately for natural gas producers, it also coincides with the blossoming of the nation’s unconventional gas resource base.

America’s current recession is the worst since the 1930s and “the most synchronized” with failing markets worldwide, Standard & Poor’s (S&P) David Wyss, chief economist, told reporters Monday. Unfortunately for natural gas producers, it also coincides with the blossoming of the nation’s unconventional gas resource base.

More than $20 billion of natural gas and oil assets currently are for sale worldwide, with North America leading the inventory, according to a new study.