International

North American natural gas prices were subdued this week despite a boost from lower production and some lingering cold weather. On Thursday, the New York Mercantile Exchange contract for April settled at $1.683/MMBtu, down 1.6 cents on the day. As a comparison, NGI’s next-day Henry Hub traded Wednesday for Thursday delivery at $1.565, down a…

NO. 1: The Panama Canal Authority (PCA) is adding three more daily transit slots this month to allow more vessels to pass through the waterway.  PCA said it added two additional slots for auction on Monday (March 18). Another slot is scheduled to be added next Monday (March 25), boosting the number of daily transits…

Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Chris Lenton, senior editor of Mexico and Latin America, sits down with Rosanety Barrios, who heads the energy team for Mexican presidential candidate Xóchitl Gálvez.  Barrios details how Mexico’s energy sector, including state companies Comisión Federal de Electricidad (CFE)…

At the right “price point,” global demand for natural gas will continue to expand, Shell plc CEO Wael Sawan said Monday.  On the opening day of CERAWeek by S&P Global in Houston, Sawan told the industry audience that the transition to become a net-zero producer remains a goal by 2050. However,  alternatives remain too expensive…

Venture Global LNG Inc. said Sunday it would acquire a fleet of nine liquefied natural gas tankers, becoming the first U.S. producer of the super-chilled fuel to own vessels as it continues to integrate its operations.  The vessels are currently under construction in South Korea. Six of them would have the capacity to carry 174,000…

ExxonMobil is trying to put a stop to Chevron Corp. and its bid to enter the lucrative Guyanese offshore oil and natural gas patch. The company has filed for arbitration, claiming Chevron’s bid to snap up Hess Corp.’s Guyana assets goes against a contract clause that grants ExxonMobil a right of first refusal. Last October,…

South Korea’s plans to bring online more nuclear power capacity could cut natural gas demand this summer, but the strategy is unlikely to curb demand the way it has in Japan. “Korea’s nuclear projects have been under construction for some time, and Japan will be far ahead with switching their plants back on once they…

China imported nearly 13% more LNG in the first two months of the year compared to the same time in 2023 as lower spot prices have encouraged Chinese buyers to close more deals.  China’s imports of the super-chilled fuel reached 14.03 million tons (Mt) in January and February, up from 13.50 Mt during the same…

Geopolitical tensions are impacting global oil and natural gas prices, but the outlook for oilfield services “continues to be constructive,” as operators prepare for infrastructure and LNG projects to begin commercial operations, according to Ensign Energy Services Inc. The executive team of the Calgary-based operator, which works across North America and in overseas markets, discussed…