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With ‘Unobstructed Rule’ on the Line, Mexican Midterm Outlook Said Still Unclear

With ‘Unobstructed Rule’ on the Line, Mexican Midterm Outlook Said Still Unclear

With less than four weeks to go before Mexico’s potentially transformative midterm elections, pollsters are still trying to get a clear picture of what to expect. According to the director of public polling at Mexican daily El Financiero, Alejandro Moreno, Mexico remains in a period of “volatility and uncertainty” and a lot can still change…

May 11, 2021
EOG Says No Oil Production Growth Until Market Demands It

EOG Says No Oil Production Growth Until Market Demands It

Market fundamentals, not commodity prices, will determine whether EOG Resources Inc. decides to increase oil production over the coming months, executives said during the recent first quarter conference call. The Houston-based independent plans to maintain production at around 440,000 b/d until demand has recovered to above pre-Covid levels and U.S. crude inventories are below the…

May 11, 2021
Perdido’s Plethora of GOM Deepwater Discoveries Continues with Leopard, Says Shell

Perdido’s Plethora of GOM Deepwater Discoveries Continues with Leopard, Says Shell

Houston-based Shell Offshore Inc. on Tuesday disclosed a “significant discovery” at the deepwater Leopard prospect in the Perdido Corridor of the Gulf of Mexico (GOM). The Royal Dutch Shell plc subsidiary said the Leopard well in Alaminos Canyon Block 691 encountered more than 600 feet (183 meters) net oil pay at several levels. Few other…

May 11, 2021
EIA’s Natural Gas Price Forecast Ticks Up to $3.05 on Exports, U.S. Demand

EIA’s Natural Gas Price Forecast Ticks Up to $3.05 on Exports, U.S. Demand

On the strength of exports and domestic consumption, natural gas spot prices at Henry Hub are expected to average $2.78/MMBtu in the second quarter and $3.05 for 2021 overall, the U.S. Energy Information Administration (EIA) said Tuesday. The updated projections, published in the May edition of the agency’s Short-Term Energy Outlook, represent a modest increase…

May 11, 2021
OPEC Sticking to Strong Global Oil Demand Outlook Through 2021

OPEC Sticking to Strong Global Oil Demand Outlook Through 2021

The Organization of Petroleum Exporting Countries (OPEC) on Tuesday held to its forecast for relatively robust oil demand in 2021, driven by expectations for increased economic activity and travel in the second half of the year. The cartel noted that coronavirus inoculation campaigns are gaining rapid momentum across North America, Europe and much of Asia.…

May 11, 2021
Asian, European Natural Gas Prices Hit Fresh Highs as Regions Compete for Supply — LNG Wrap

Asian, European Natural Gas Prices Hit Fresh Highs as Regions Compete for Supply — LNG Wrap

Asian and European natural gas prices on Tuesday soared to multi-month highs, continuing a run of strength as demand remained unseasonably high. Tuesday’s gains came after the prompt Title Transfer Facility benchmark finished Monday at $8.973/MMBtu and the prompt National Balancing Point broke through the $9.00 barrier to hit $9.05 after a stretch of continued…

May 11, 2021
Natural Gas Futures Fall Back Amid Bearish Weather Forecasts

Natural Gas Futures Fall Back Amid Bearish Weather Forecasts

Comfortable temperatures are expected across the Lower 48 It could take three weeks for summer cooling demand to kick in Analysts anticipate substantial storage increases in May Natural gas futures gave up ground on Monday as traders mulled waning weather-driven demand and the potential implications of a cybersecurity attack on the largest fuel pipeline in…

May 11, 2021
U.S. Natural Gas Exports Grew 13% in 2020 Despite Pandemic, Says DOE

U.S. Natural Gas Exports Grew 13% in 2020 Despite Pandemic, Says DOE

U.S. natural gas exports via pipeline and liquefied natural gas (LNG) rose 13.4% year/year in 2020 despite the pandemic, although that was down from the previous annual increase of 29%, according to the latest trade scorecard of the U.S. Department of Energy (DOE). Total 2020 U.S. gas exports to Canada, Mexico and overseas LNG markets…

May 11, 2021
SoCalGas Looks to Produce Hydrogen from RNG; Clean Energy Inks More Deals

SoCalGas Looks to Produce Hydrogen from RNG; Clean Energy Inks More Deals

A growing interest in renewable natural gas (RNG) was underscored this month as Newport Beach, CA-based Clean Energy Fuels Corp. signed seven fleet and fueling station supply contracts and Southern California Gas Co. (SoCalGas) entered a demonstration project using supplies to produce hydrogen. Clean Energy, which has contracts with fleets in the ports of Los…

May 11, 2021
Northern Oil Grows Output as More Bakken Curtailments Eased

Northern Oil Grows Output as More Bakken Curtailments Eased

Lower 48 producer Northern Oil & Gas Inc. saw its 1Q2021 output climb over the previous three months as more curtailments were eased in the Bakken Shale and well productivity improved. The company, which has positions in the Bakken, the Marcellus Shale and the Permian Basin, reported overall production of 38,417 boe/d for the first…

May 11, 2021