International

Natural gas futures advanced again Tuesday as robust liquefied natural gas (LNG) levels fueled demand optimism and a dose of chilly weather bolstered cash prices.   The May Nymex contract climbed 5.8 cents day/day and settled at $2.619/MMBtu – the fifth straight day of gains. June rose 5.3 cents to $2.696. NGI’s Spot Gas National Avg.…

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday formally raised its expectations for global oil demand in 2021, citing expectations for a recovery from the pandemic and stronger economic growth. In its Monthly Oil Market Report (MOMR), the cartel projected demand would rise by 5.95 million b/d this year, a nearly 7% increase…

Saudi Arabia Oil Co., better known as Aramco, has struck a $12.4 billion transaction to sell a minority stake in its oil pipeline operations to a consortium led by U.S.-based EIG Global Energy Partners.  The global investment group agreed to take 49% equity interest in newly created Aramco Oil Pipelines Co. Aramco today operates more…

Natural gas futures advanced for a fourth consecutive session on Monday as a bout of chilly spring weather was forecast to sweep across large swaths of the Lower 48, likely providing a boost for demand and cash prices. The May Nymex contract settled at $2.561/MMBtu, up 3.5 cents day/day. June climbed 3.8 cents to $2.643.…

Whitecap Resources Inc. increased its liquids-rich Montney Shale natural gas assets with a C$300 million ($240 million) takeover of private equity-backed Kicking Horse Oil & Gas Ltd.The acquisition includes ownership interests averaging 65% in 92 square miles of Montney production and future drilling targets in the Grande Prairie area of northwest Alberta. “We are excited…

As Latin American nations establish aggressive climate goals, hydrogen is poised to become an important part of the energy puzzle, but numerous operators in the region are thinking bigger and toward the global market. Latin America could become “a key contributor to the global push toward low‑carbon hydrogen,” according to a recent study by the…

Natural gas futures took a dramatic fall after the Easter holiday weekend as weather forecasts shifted much warmer for the next couple of weeks. With April on pace to be warmer than normal, the May Nymex gas futures contract plunged 12.8 cents Monday to settle at $2.511/MMBtu. June fell 11.5 cents to $2.582. Spot gas…

Santos Ltd. has sanctioned a $3.6 billion development in the Timor Sea to extend the life of the Darwin gas export facility in Australia. Australia-based Santos said Tuesday the final investment decision (FID) would also kick off a separate $600 million investment to extend the life of the 3.7 million metric tons/year Darwin liquefied natural…

Canadian natural gas export volumes and revenues both shrank last year, according to trade records compiled by the Canada Energy Regulator (CER). Pipeline deliveries to the United States dropped by 8% to 6.8 Bcf/from 7.4 Bcf/d in 2019. Canadian gas export revenues plunged by 24% to C$6.9 billion ($5.5 billion) last year from C$9.1 billion…