Earnings

An “exceptional” performance for Shell plc’s Integrated Gas trading unit, in parallel with higher LNG volumes, once again propelled profits in the final three months of 2023, with volumes set to climb higher as an Australian export project restarts, CEO Wael Sawan said. The London-based major reported sharply lower fourth quarter profits year/year, notably lacking…

Management at global petrochemical giant Dow Inc. on Thursday touted domestic natural gas and natural gas liquids (NGL) production growth for its competitive edge in its oil to gas brands in 2023. Through lower planned maintenance spending and structural improvements to raw materials, logistics and utility costs, “we’ve improved our cost profile,” CFO Jeffrey Tate…

U.S. exploration companies have expressed uncertainty about the direction of the energy markets this year, but one thing they are sure about is natural gas-powered pressure pumping fleets, which should support “durable, multi-year” opportunities, top oilfield executives said. Halliburton Co., one of the world’s largest oilfield services (OFS) companies, and Liberty Energy Inc., the No.…

The world is on track to achieve 800 million metric tons/year (mmty) of LNG capacity by 2030, with Baker Hughes Co. expecting to grab a major slice of the market, executives said Wednesday. CEO Lorenzo Simonelli, joined by CFO Nancy Buese, discussed the Houston-based oilfield service giant’s latest quarterly results and the outlook during a…

Kinder Morgan Inc. (KMI) said its natural gas pipeline and storage business expanded substantially late in 2023 and is poised for continued growth in the year ahead. It expects to capitalize on robust natural gas production and expectations for exponential growth in export demand in the back half of the decade. The Houston-based midstream giant…

Kinder Morgan Inc. (KMI) said its natural gas pipeline and storage business expanded substantially late in 2023 and is poised for continued growth in the year ahead. It expects to capitalize on robust natural gas production and expectations for exponential growth in export demand in the back half of the decade. The Houston-based midstream giant…

Shell plc’s Integrated Gas trading arm, which includes global LNG, is expected to report “significantly higher” sequential results for the final three months of 2023 “due to seasonality and increased optimization opportunities.” The London-based major on Monday provided an update of its projected fourth quarter results, with solid operations from the world’s No. 1 liquefied…

ExxonMobil is warning that it expects to have a one-time writedown of $2.5 billion in 4Q2023 for the reduced value of some upstream assets in California, similar to a one-time quarterly impairment expected by Chevron Corp. The one-time impairment would be for the idled Santa Ynez Unit (SYU) and associated oil and gas facilities, ExxonMobil…

Click here to listen to the latest episode of NGI’s Hub & Flow. NGI’s Leticia Gonzales,  Kevin Dobbs, Josiah Clinedinst and Josten Mavez discuss what they learned from North American midstream companies during the third quarter 2023 earnings season. Amid an increasingly positive outlook for natural gas, midstreamers stand ready to connect growing natural gas…