International

ConocoPhillips said Insulated from Natural Gas Price Volatility, While Building Stakes in Qatar, Aussie LNG

ConocoPhillips said Insulated from Natural Gas Price Volatility, While Building Stakes in Qatar, Aussie LNG

ConocoPhillips joined other exploration and production (E&P) companies in reporting rising earnings, thanks to geopolitical impacts to oil and gas prices, but management said it should move on “full value chain” opportunities in liquefied natural gas (LNG) to further enhance its gas business. The Houston-based independent, the world’s largest, has substantial global holdings in gas.…

May 7, 2022
U.S. Crude Production Flat Amid Global Supply Worries; OPEC-Plus on Deck

U.S. Crude Production Flat Amid Global Supply Worries; OPEC-Plus on Deck

American oil producers were active by 2022 standards last week. However, total output held flat for the third straight period and remained far below pre-pandemic levels, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ending April 29 totaled 11.9 million b/d, according to EIA. That was on par with the high…

May 4, 2022
Spain’s Enagás Confirms Renewed Work on Natural Gas Interconnect with France

Spain’s Enagás Confirms Renewed Work on Natural Gas Interconnect with France

Enagás SA, Spain’s transmission system operator (TSO), has renewed talks to create more natural gas pipeline infrastructure between France and Spain in the wake of Russia’s invasion of Ukraine. CEO Arturo Gonzalo said during a first quarter earnings call the company is “working closely” with its French TSO counterpart, Teréga SAS, to propose an additional…

May 4, 2022
BP’s Focused on Moving Natural Gas to Europe, with Ongoing Volatile Markets Predicted

BP’s Focused on Moving Natural Gas to Europe, with Ongoing Volatile Markets Predicted

BP plc’s primary focus for global natural gas markets today is centered on “flow assurance,” to move enough supply to European countries that remain dependent on Russia, top executives said Tuesday.  CEO Bernard Looney was joined by CFO Murray Auchincloss to discuss first quarter performance. The London-based major for several years has been the No.…

May 3, 2022
TC Energy Sees North American LNG Exports Swelling 90% by 2030

TC Energy Sees North American LNG Exports Swelling 90% by 2030

TC Energy Corp. now expects liquefied natural gas (LNG) exports from North America to reach 25 Bcf/d by 2030, up more than 90% from current levels, according to CEO Francois Poirier. “While the world confronts a serious geopolitical shift, a transition to cleaner energy that also meets the world’s demand is still required,” Poirier said…

May 3, 2022
Suncor Urged to Overhaul Operations in Pitch from Elliott

Suncor Urged to Overhaul Operations in Pitch from Elliott

Calgary-based oilsands giant Suncor Energy Inc. is facing pushback from activist investor Elliott Investment Management, which is calling for an overhaul of the board, management, operations and assets ahead of the May 10 annual meeting. A letter sent by Elliott to the board, along with a 45-page presentation posted on the internet, called Suncor a…

May 3, 2022
ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

Growth in the Permian Basin, Guyana’s offshore and the global liquefied natural gas (LNG) market are gaining momentum, along with low-carbon opportunities, ExxonMobil CEO Darren Woods said last week. During the 1Q2022 conference call on Friday (April 29), Woods told investors that “recent events” have clarified the direction for oil and gas producers.  New investments…

May 2, 2022
Natural Gas Futures Forge Ahead as Production Woes Fester

Natural Gas Futures Forge Ahead as Production Woes Fester

With production light and demand steady, natural gas futures on Friday cruised higher for the fourth time in five sessions. The June Nymex gas futures contract settled at $7.244/MMBtu, up 35.6 cents day/day. July advanced 36.1 cents to $7.355. NGI’s Spot Gas National Avg. shed 2.5 cents to $6.545, though prices were up across the…

April 29, 2022
TTF Sees Weekly Gain on Russian Flow Cut, as Asian Market Drops

TTF Sees Weekly Gain on Russian Flow Cut, as Asian Market Drops

European TTF prices opened down on Thursday morning after a strong start to the week triggered by news that Russia would stop pipeline gas exports to Poland and Bulgaria.

April 29, 2022
Woodside Weathers Production Issues, ‘Volatility’ with Heightened Oil, Gas Prices

Woodside Weathers Production Issues, ‘Volatility’ with Heightened Oil, Gas Prices

Woodside Petroleum Ltd. management said a combination of maintenance, weather and geopolitical tensions impacted its oil and gas production and sales during the first quarter. However, heightened prices – especially for liquefied natural gas (LNG) – kept revenues strong. The Australian producer saw a mix of boons and setbacks with its gas businesses during the…

April 29, 2022