Daily GPI

November Natural Gas Expires Shy of $3 on Weather Uncertainty

November Natural Gas Expires Shy of $3 on Weather Uncertainty

Natural gas traders on Wednesday struggled with which side of the $3.00/MMBtu mark the prompt-month futures contract should roll off the board. With an uncertain weather outlook weighing heavily on the market, the November Nymex contract expired 2.3 cents lower at $2.996. December, which moves to the front of the curve on Thursday, fell 2.0…

October 28, 2020
Enterprise Says Petchem Demand Robust, Forecasts Possible Oil Price Rebound Later in 2021

Enterprise Says Petchem Demand Robust, Forecasts Possible Oil Price Rebound Later in 2021

Midstream giant Enterprise Products Partners LP executives said Thursday demand for petrochemical products has stayed resilient through the coronavirus pandemic, and said oil prices could see a boost as early as next year. “The global economy is in the early stages of reopening from a self-imposed sudden stop due to Covid-19,” said Enterprise’s Jim Teague,…

October 28, 2020
ConocoPhillips Wins Key Approval for Willow Project in Alaska

ConocoPhillips Wins Key Approval for Willow Project in Alaska

ConocoPhillips’ Alaska division won an important approval this week from the Interior Department’s Bureau of Land Management (BLM), clearing the path for construction of the long-planned Willow project. Located within the Bear Tooth Unit of the National Petroleum Reserve in Alaska, the Willow project could produce up to 160,000 b/d, with a processing capacity of…

October 28, 2020
France’s Total Makes Second Gas Discovery Offshore South Africa

France’s Total Makes Second Gas Discovery Offshore South Africa

Total SA has made a second significant gas condensate discovery offshore South Africa, management at the French major said Wednesday. The latest discovery is in the Luiperd prospect, in Block 11B/12B in the Outeniqua Basin, 175 kilometers (109 miles) off the southern coast of South Africa. The Luiperd well was drilled to a depth of…

October 28, 2020
Bipartisan Lawmakers Launch Caucus to Strengthen Energy Exports

Bipartisan Lawmakers Launch Caucus to Strengthen Energy Exports

A bipartisan group of lawmakers in the U.S. House of Representatives has launched the Congressional Energy Export Caucus aimed at strengthening the country’s trade role in a post Covid-19 world.  Reps. Carol Miller (R-WV), Henry Cuellar (D-TX), Jodey Arrington (R-TX) and Lou Correa (D-CA) announced the caucus last week. The lawmakers said the group would…

October 28, 2020
Woodfibre Granted Extension to Build BC LNG Export Facility

Woodfibre Granted Extension to Build BC LNG Export Facility

A five-year construction deadline extension has been granted to the C$1.6 billion ($1.2 billion) Woodfibre liquefied natural gas (LNG) export project on the southern Pacific coast of British Columbia (BC). The BC Environmental Assessment Office (BCEAO) set a new permit expiry date of October 2025. The schedule extension does not create hazards or harm rights…

October 28, 2020
Natural Gas Futures Steady Early as Gulf Coast Braces for Zeta Landfall

Natural Gas Futures Steady Early as Gulf Coast Braces for Zeta Landfall

As the Gulf Coast braced for the imminent arrival of Hurricane Zeta, and as traders mulled a mixed temperature outlook, natural gas futures hovered close to even early Wednesday. The expiring November Nymex contract was up 1.1 cents to $3.030/MMBtu at around 8:40 a.m. ET; December was off 1.1 cents to $3.300. Zeta had reached…

October 28, 2020
Natural Gas Futures Steady, but Spec Trading Behind ‘Rare’ Intraday Price Behavior; Cash Mixed

Natural Gas Futures Steady, but Spec Trading Behind ‘Rare’ Intraday Price Behavior; Cash Mixed

Natural gas futures soared to a nearly two-year high for the second time this week, but the price spike had little to do with supply or demand. Instead, analysts said options trading and massive speculative positioning ahead of the November Nymex contract’s upcoming expiration factored into Tuesday’s price behavior. The prompt month went on to…

October 27, 2020
EQT to Pay $735M for Chevron’s Natural Gas-Rich Assets in Appalachia

EQT to Pay $735M for Chevron’s Natural Gas-Rich Assets in Appalachia

EQT Corp., the Lower 48’s largest natural gas producer, said Tuesday it would acquire all of Chevron Corp.’s Appalachian assets in the Marcellus Shale for $735 million.  Expected to be completed by year’s end, the sale includes 450 MMcfe/d of production, 335,000 net acres, 100 wells in progress, two water systems and associated infrastructure in…

October 27, 2020
Trump Targets Biden’s Stance on Drilling in Pennsylvania as Election Day Nears

Trump Targets Biden’s Stance on Drilling in Pennsylvania as Election Day Nears

In a final push to win Pennsylvania, among a handful of battleground states crucial for his re-election chances, President Trump this week ramped up attacks on rival and Democratic nominee Joseph R. Biden Jr. over hydraulic fracturing, aka fracking. Following a slew of television and online advertisements striking at Biden’s energy stances, Trump held several…

October 27, 2020
‹ Previous 1 2 3 5,702