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LatAm NOCs Under Pressure as Natural Gas, Oil Demand Recovers

LatAm NOCs Under Pressure as Natural Gas, Oil Demand Recovers

Latin America’s national oil companies (NOCs) must perform a difficult balancing act as they seek to bounce back from the pandemic and shore up profits and reserves, a panel of experts said during a virtual event Tuesday. Oil “is at the heart of economic, social [and] fiscal issues in Latin America,” said Mauricio Cárdenas, who…

April 21, 2021
May Natural Gas Slips, but No Loosening in Balances Could Open Door to Higher Prices

May Natural Gas Slips, but No Loosening in Balances Could Open Door to Higher Prices

Production, LNG demand retreat Exports to Mexico tracking above projections, but summer heat still key Cold weather lifts Northeast cash prices After a meaningful step higher over the past week or so, natural gas futures steadied a bit on Tuesday and traded in a tight range. Small deviations in supply and demand ultimately sent the…

April 21, 2021
U.S. Natural Gas Exports to Mexico Beating Expectations as Pemex Production Growth Fizzles

U.S. Natural Gas Exports to Mexico Beating Expectations as Pemex Production Growth Fizzles

Only a few months after President Andrés Manuel López Obrador vowed to end his nation’s dependence on natural gas imports from the United States, Mexico’s need for Lower 48 gas is surging. April is usually a month of lower energy demand in Mexico, when natural gas infrastructure undergoes maintenance and gas imports drop, but this…

April 20, 2021
Natural Gas Futures Rise Further on Strong Export Demand, Cooler Weather

Natural Gas Futures Rise Further on Strong Export Demand, Cooler Weather

Exports to Mexico hit fresh highs Hike because of lower production, strong power burns and industrial demand LNG exports also near record levels Natural gas futures resumed their climb on Monday, buoyed by near-record export demand and the arrival of chilly weather. With the latest forecast extending and intensifying the cooler temperatures, the May Nymex…

April 20, 2021
Near-Record Export Demand Fuels More Gains for Natural Gas Futures, Cold Snap Boosts Cash

Near-Record Export Demand Fuels More Gains for Natural Gas Futures, Cold Snap Boosts Cash

Natural gas futures resumed their climb on Monday, buoyed by near-record export demand and the arrival of chilly weather. With the latest forecast extending and intensifying the cooler temperatures, the May Nymex contract settled 6.9 cents higher at $2.749. June climbed 6.4 cents to $2.818. Spot gas prices also moved higher in most areas outside…

April 19, 2021
Chillier Forecast, ‘Elevated’ Exports Send Natural Gas Futures Higher Early

Chillier Forecast, ‘Elevated’ Exports Send Natural Gas Futures Higher Early

Riding momentum from strong export levels and continued colder trends from forecasts over the weekend, natural gas futures probed several cents higher in early trading Monday. The May Nymex contract was up 3.9 cents to $2.719/MMBtu at around 8:40 a.m. ET. In its latest 15-day forecast Monday Bespoke Weather Services added nine gas-weighted degree days…

April 19, 2021
Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Texas Freeze Demonstrates Need for Further Mexico-U.S. Energy Integration, Expert Says

Freezing weather in Texas in February and the subsequent energy supply problems on both sides of the U.S.-Mexico border underline a need for greater energy integration between the two countries, Lorena Patterson, senior energy specialist and strategist, told NGI’s Mexico Gas Price Index.   “I would advocate for greater integration between the markets, and more diversification…

April 16, 2021
Mexico’s Natural Gas Market Grows Amid Lessons from U.S. Experience

Mexico’s Natural Gas Market Grows Amid Lessons from U.S. Experience

Mexico’s natural gas market is still in its early stages and suffers from a lack of competition, but that’s not too far from how things were in the United States when the market started, according to Mercuria Energy Co.’s Charles Blanchard. Blanchard, head of North American natural gas research, recently published an exhaustive study on…

April 15, 2021
Mexico Competition Monitor Urges Against ‘Detrimental’ Changes to Hydrocarbons Law

Mexico Competition Monitor Urges Against ‘Detrimental’ Changes to Hydrocarbons Law

Mexico’s antitrust watchdog Comisión Federal de Competencia Económica (Cofece) has sent a letter to Mexico’s Congress decrying proposed changes to the nation’s Ley de Hidrocarburos, or Hydrocarbons Law. “We recommend the reform to the Hydrocarbons Law isn’t approved,” President Jana Palacios said on Twitter. She suggested the proposed changes would be damaging to competition in…

April 13, 2021
May Natural Gas Futures Climb Fourth Straight Day on Looming Cold Front

May Natural Gas Futures Climb Fourth Straight Day on Looming Cold Front

Cold front, strong LNG combine to lift natural gas futures again Early estimates point to storage build in high 60s Bcf later this week President Biden to host virtual summit on climate change for global leaders Natural gas futures advanced for a fourth consecutive session on Monday as a bout of chilly spring weather was…

April 13, 2021
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