International

Oil Consumption to Rebound in 2021, but Pandemic Lurks as Wildcard, EIA Says

Oil Consumption to Rebound in 2021, but Pandemic Lurks as Wildcard, EIA Says

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…

February 9, 2021
NGI’s Hub & Flow Podcast Explores Impact of Twists in Mexico Power Sector on Natural Gas Market — Listen Now

NGI’s Hub & Flow Podcast Explores Impact of Twists in Mexico Power Sector on Natural Gas Market — Listen Now

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…

February 9, 2021
Shell Sees LNG Volumes and Upstream Results Slide in 2020, Along with Profits

Shell Sees LNG Volumes and Upstream Results Slide in 2020, Along with Profits

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…

February 4, 2021
LNG Exports, Industrial Use Seen Driving Natural Gas Demand Growth Through 2050

LNG Exports, Industrial Use Seen Driving Natural Gas Demand Growth Through 2050

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…

February 4, 2021
In Wake of Earnings Slump, ExxonMobil Critics Call for Greater Change

In Wake of Earnings Slump, ExxonMobil Critics Call for Greater Change

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…

February 3, 2021
Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

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…

February 2, 2021
BP ‘Greening,’ as Oil, Natural Gas Alternatives Evolve, Says Looney

BP ‘Greening,’ as Oil, Natural Gas Alternatives Evolve, Says Looney

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…

February 2, 2021
Tale of Two Neighbors During Covid as U.S. Natural Gas Exports Grow, Canada’s Shrink

Tale of Two Neighbors During Covid as U.S. Natural Gas Exports Grow, Canada’s Shrink

Covid-19 shrank Canadian natural gas exports while American sales abroad grew despite the pandemic by reaching multiple international markets in the first nine months of 2020, according to the latest trade scorecard by the U.S. Department of Energy (DOE). U.S. exports increased by 12.4% to a new high, almost double the Canadian volumes. Canadian exports…

February 2, 2021
Baker Hughes, Novatek Piloting Hydrogen Tech to Cut Emissions from Russian LNG Exports

Baker Hughes, Novatek Piloting Hydrogen Tech to Cut Emissions from Russian LNG Exports

Baker Hughes Co. and Russia’s largest independent PAO Novatek are piloting a project to introduce hydrogen blends into liquefaction processes to reduce carbon emissions for liquefied natural gas (LNG) export projects. Compression and power generation technologies are being studied to reduce carbon dioxide (CO2) emissions from Novatek’s 16 million metric ton/year Yamal LNG project on…

February 1, 2021
NGI’s Hub & Flow Podcast Explores Aftermath of Asia’s LNG Price Rally

NGI’s Hub & Flow Podcast Explores Aftermath of Asia’s LNG Price Rally

Click here to listen to a new episode of NGI’s Hub & Flow podcast.  Senior Editor Jamison Cocklin, who oversees LNG Insight, takes a look at the historic rally in Asian liquefied natural gas prices earlier this month and how the rally might impact the global market this year.  Believing that transparent markets empower businesses,…

January 28, 2021