International

A rally in Asian and European natural gas prices lost steam last week, but fundamentals remain unchanged as the coming months are still expected to be tight.  European futures closed higher on Tuesday, recovering some of last week’s losses as the near-term curve was lifted by lingering cold, weak Russian pipeline imports and ongoing strength…

U.S. drilling activity has improved “a little faster than we expected,” with more customers opting to activate rigs using natural gas and blended gas systems, Precision Drilling Corp. CEO Kevin Neveu said last week.  Sharing a microphone with his management team, Neveu held court last Thursday to discuss the Calgary-based operator’s performance in the first…

With natural gas and oil trading crushing it in the first quarter, BP plc proved that even as it transitions to net zero emissions, it’s still a major fossil fuel producer, with rising global demand likely to accelerate profits through the year. The London-based operator, which now prefers to be tagged as an “integrated energy…

The Alberta government has won an epic court battle with its British Columbia (BC) counterpart over rights of oil- and natural gas-producing provinces to control pipeline flows. The Canadian Federal Court of Appeal dismissed a BC lawsuit against a 2018 Alberta bill nicknamed the “turn-off-the-taps act,” formally titled the Preserving Canada’s Economic Prosperity Act. BC…

Natural gas futures struggled to gain traction early Monday, but continuously strong export demand eventually pushed prices into the green. With options and the May Nymex contract’s expiration looming, the prompt month settled at $2.790, up 6.0 cents from Friday’s close. The June contract picked up 5.6 cents to land at $2.874. Spot gas prices…

French supermajor Total SE has suspended work at its Mozambique liquefied natural gas (LNG) work site amid rising violence in the area. Total said the security threat from violent insurgents had led it to declare force majeure on the $20 billion project. It did not say when work might resume. “Considering the evolution of the…

Energy stakeholders endorsed President Biden’s strengthening of U.S. climate change commitments on Thursday, but they also stressed the importance of natural gas in achieving deep decarbonization of the economy. Biden said Thursday the United States will target a 50-52% reduction in economy-wide greenhouse gas (GHG) pollution by 2030 versus 2005 levels. The announcement, made during…

Halliburton Co., which completes more onshore oil and gas wells in North America than any other operator, saw demand for its drilling services climb during the first three months of the year.  The Houston oilfield services (OFS) giant reported its quarterly results on Wednesday, with CEO Jeff Miller presiding over the conference call with analysts. …

Alberta and Saskatchewan oil producers stand to gain committed customers, reliable tolls and shipping capacity growth from the hotly contested service overhaul proposal for their chief conduit to markets across Canada and the United States, according to Enbridge Inc. The Calgary pipeline conglomerate predicted the benefits in a 94-page response to industry furor ignited by…