International

Amid a seemingly never-ending wave of Arctic air that crippled infrastructure in the so-called energy capital of the world and across the country’s midsection, resulting in widespread power outages, natural gas prices continued to reach new heights in Oklahoma on Wednesday. Next-day gas prices soared into the thousands in the Sooner State, according to NGI…

The recovery in global oil demand will limp along early in 2021 but should quicken in the second half of the year, as coronavirus vaccine distribution efforts make headway and travel increases, both the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries, aka OPEC, said in new forecasts this month.  In…

Oil consumption will rise in 2021 alongside a global economic recovery and increased travel, though demand this year is not likely to match the levels prior to the pandemic, the U.S. Energy Information Administration (EIA) said. In a supplement to its monthly Short-Term Energy Outlook (STEO) report, the agency forecast global oil consumption would gather…

Click here to listen to a new episode of NGI’s Hub & Flow podcast. Senior Editor Christopher Lenton, who oversees NGI’s Mexico GPI, and Mexico energy expert David Rosales discuss the evolving Mexican power market and its impacts on the natural gas industry.  Believing that transparent markets empower businesses, economies and communities, NGI works to…

The pandemic discombobulated the timeline for the massive natural gas export project underway in British Columbia, but Royal Dutch Shell plc has been able to recoup some of the lost time because most of the construction is in Chinese yards, which are “back and running,” CEO Ben van Beurden said Thursday. The CEO and CFO…

Exports and industrial use will be the key drivers of natural gas consumption growth in the United States through 2050, while demand from other sectors, including electricity generation, is expected to increase slowly or remain flat, according to the Energy Information Administration’s (EIA) latest long-term projections. Under the baseline reference case in the agency’s Annual…

Agitated by activist investors, ExxonMobil this week promised substantial new investments to combat the effects of climate change and announced the election of a new director as part of what it called a broader board “refreshment.” However, activist investor Engine No. 1 LLC said the changes were insufficient. The San Francisco firm said it stood…

ExxonMobil on Tuesday pledged $3 billion to lower emissions in a bid to bolster its environmental record even as it slashed overall capital spending and vowed to safeguard its dividend. Executives, while declining to directly address a news report that ExxonMobil and fellow supermajor Chevron Corp. had discussed a potential tie-up, also said they continue…

BP plc CEO Bernard Looney is juggling dozens of balls as the supermajor ramps up oil and natural gas projects worldwide, but the focus long term, he said Tuesday, is centered on ways to expand the opportunities toward a low carbon future. Speaking from London during a webcast to discuss quarterly results, Looney said last…