With the outlook for oil and natural gas demand dimming because of the restrictions imposed by Covid-19, global capital spending may fall by 17% year/year with the Lower 48 producers taking the brunt.
Topic / Coronavirus
SubscribeCoronavirus
Articles from Coronavirus
Natural Gas Futures Called Lower as Markets Weigh Covid-19 Impacts
With natural gas traders left to factor in potential volatility from the expiration of the April contract on top of the broader uncertainty hanging over the market from Covid-19, futures were trading slightly lower early Friday. The April Nymex contract was off 2.4 cents to $1.613/MMBtu at around 8:40 a.m. ET.
NGI The Weekly Gas Market Report
Woodfibre LNG Wants Delay to Begin Building Export Project on BC Coast
Project changes awaiting regulatory approval and equipment delivery interruptions by the Covid-19 pandemic have delayed the scheduled 2020 construction start for a small liquefied natural gas (LNG) export project slated for Canada’s west coast.
NGI The Weekly Gas Market Report
Vitol Reports 35% Rise in Traded LNG Volumes, Says Fuel to Supply Greater Share of Revenue
Vitol Inc. CEO Russell Hardy said Friday the Swiss commodities giant expects liquefied natural gas (LNG) to account for a growing share of revenue, as delivered volumes rose 35% to 10.5 million metric tons (mmt) in 2019.
NGI The Weekly Gas Market Report
E&Ps, OFS Defend Against Coronavirus, Oil Prices while Spring Reterminations Lurk
EQT Corp. has suspended its quarterly dividends, while Basic Energy Services Inc. has cut spending by 60% and begun closing some locations, as the global oil and gas industry defends against forces that were unforeseen only three months ago.
Murphy Oil CEO Takes Leave as Coronavirus Hits Close to Home; Still More E&P OFS Operators Cut Capex, Salaries
More capital spending reductions are making the news in the energy sector, and the coronavirus is hitting closer to home, as Murphy Oil Corp.’s CEO announced he is taking a temporary medical leave on a presumptive diagnosis.
NGI The Weekly Gas Market Report
Coronavirus Thrusts LNG Market Further into Turmoil as More Cargoes Float with Nowhere to Go
Bedlam reigned in the global natural gas market on Thursday as more force majeures were issued, cargoes appeared to have nowhere to go, and prices continued spiraling because of widespread measures to stem the coronavirus outbreak.
NGI The Weekly Gas Market Report
U.S. Natural Gas Price Forecasts Evolving as Coronavirus, Oil Price Slump Roil Markets
Natural gas prices are forecast to be pressured into 2021, with potential relief as associated output falls on reduced oil drilling and more coal-to-gas switching, according to analysts.
Coronavirus Potentially ‘Brutal’ for Natural Gas; Storage Report Doesn’t Lift Bulls’ Spirits
A larger-than-expected inventory draw failed to inject any bullishness into the natural gas futures market Thursday as traders and analysts continued to mull the potentially profound impacts of the coronavirus on the energy space and beyond. The April Nymex contract fell 2.2 cents to settle at $1.637/MMBtu.
Natural Gas Futures Called Lower Ahead of Latest EIA Data
With coronavirus-related anxiety still hanging over the economy, natural gas futures were trading slightly lower early Thursday as traders prepared to turn their attention to the latest round of government storage data. The April Nymex contract was down 1.4 cents to $1.645/MMBtu as of 8:40 a.m. ET.