Earnings

Florida-based NextEra Energy Inc., already one of the largest solar and wind utilities, said it is planning to convert 16 GW of its 20 GW-plus natural gas electrical generation fleet to run on green hydrogen as it continues to move toward zero carbon emissions. The utility’s principal subsidiary, Florida Power and Light Co. (FPL), recently…

The top executive of Range Resources Corp., one of the largest natural gas producers in the United States, said again on Tuesday that not enough is being done by the country to ease the global energy crisis.  “Energy policy will need to be rooted in market realities,” said CEO Jeff Ventura. “If infrastructure projects, mainly…

Constrained availability of oilfield services (OFS) supply capacity in North America, and increasingly internationally, rank among ongoing “tailwinds” for natural gas and oil prices, management at Schlumberger Ltd. said Friday. The OFS giant sees “a decoupling of upstream spending from potential near-term demand volatility, resulting in resilient global oil and gas activity growth in 2022…

Australia’s largest independent natural gas and oil producers honed in on optimizing value for LNG exports and progressing gas field development projects in the second quarter while navigating domestic supply shortages. The recently renamed Woodside Energy Group Ltd. and Santos Ltd. both reported continued elevated pricing for liquefied natural gas (LNG) despite demand destruction in…

Despite global uncertainty over a potential economic recession, global aluminum supply will continue to be under pressure by high demand through this year, according to executives at top U.S. producer Alcoa Corp. “European smelters and more recently one smelter in North America have cut capacity due to higher energy prices,” CEO Roy Harvey said on…

Kinder Morgan Inc. is prepared to invest more in the near term as it aims to grow its market share of natural gas deliveries to U.S. LNG export facilities. During a Wednesday call with investors, CEO Steven Kean said Kinder has around 7 Bcf/d currently contracted on its pipelines to serve liquefied natural gas export…

Baker Hughes Co. (BKR) management on Wednesday offered a bullish assessment of natural gas growth opportunities but conveyed a more measured outlook for the oil market. “Overall, we remain very positive on the outlook for natural gas,” Baker Hughes’ CEO Lorenzo Simonelli told analysts during the oilfield services (OFS) giant’s 2Q2022 earnings call. “We also…

A potential economic slump would be insufficient to correct the acute supply/demand imbalance currently facing the oil and natural gas markets, according to Halliburton Co. CEO Jeff Miller. Miller discussed the market outlook during the oilfield services (OFS) giant’s second-quarter earnings call Tuesday morning. The CEO noted that actions taken by central banks during the…

Natural gas and oil demand has risen since Russia invaded Ukraine in late February, but exploration and production (E&P) executives in first quarter conference calls clung to capital discipline, favoring shareholder returns over boosting output. With the quarter now in the rearview mirror, a myriad of questions remains to determine the direction of U.S. activity…