Day: February 27, 2023

Natural gas futures extended their gains on Monday as weather models continued to show cold over much of the Lower 48 for early to mid-March and Freeport LNG stayed on its path toward full operations. With some nascent technical momentum also in play, the newly prompt April Nymex natural gas contract settled at $2.731/MMBtu, up…

The post Natural Gas Futures, Cash Prices Rise Amid Series of Winter Blasts appeared first on Natural Gas Intelligence

Amid record profits across the globe for oil and gas giants, Mexico’s national oil company Petróleos Mexicanos, aka Pemex, posted yet another loss in the fourth quarter of 2022. The company reported a fourth-quarter net loss of 172.4 billion pesos ($9.4 billion) after a 52- billion peso loss in the third quarter. In 4Q2021, Pemex…

The post Mexico’s Pemex Posts Disappointing Results, but Natural Gas Output Points Up appeared first on Natural Gas Intelligence

EOG Resources Inc., a multi-basin exploration and production firm, said its strong fourth quarter and full-year 2022 results were powered by robust natural gas and oil demand, price spikes and steady production activity. For the year, EOG said, the natural gas prices it fetched jumped 49% from a year earlier, while crude prices increased 42%.…

The post EOG Resources Strikes Upbeat Tune on Natural Gas, Oil Volumes appeared first on Natural Gas Intelligence

A unit of Germany’s Uniper SE has secured a supply agreement for LNG made with renewable natural gas (RNG) for its heavy vehicle fueling network, calling imports of the super-chilled fuel “no longer competitive” for decarbonizing the transportation industry. German firm Revis Bioenergy GmbH plans to begin supplying Uniper’s Liqvis GmbH later this year with…

The post Uniper’s LNG-Powered Truck Fueling Network Taps RNG as Economic Solution appeared first on Natural Gas Intelligence

European natural gas prices sank Monday, giving up last week’s gains as the March Title Transfer Facility (TTF) contract rolled off the board with the continent amply supplied as spring nears.  The March and April contracts finished below $15/MMBtu as the week got underway. European gas storage inventories are at about 62% of capacity, compared…

The post European Natural Gas Prices Sputter as Spring Nears, but Upside Risks Remain – LNG Recap appeared first on Natural Gas Intelligence

The right incentives could allow natural gas utilities to use existing infrastructure to advance low-carbon fuels and fight climate change, according to a study commissioned by the American Gas Association (AGA). AGA consulted Concentric Energy in discovering key regulatory frameworks that would encourage the production of low carbon products.  “This study leaves no doubt that…

The post AGA Identifies Low-Carbon Natural Gas Supply, Infrastructure as Part of the Path Forward appeared first on Natural Gas Intelligence

BP plc and its partners in the Greater Tortue Ahmeyim (GTA) natural gas field are evaluating a second phase expansion for the floating LNG production project offshore West Africa as first phase construction progresses. BP, Kosmos Energy Ltd., Senegal’s Petrosen and Mauritania’s Société Mauritanienne des Hydrocarbures have agreed to evaluate a 2.5-3 million metric ton/year…

The post BP, Kosmos Explore 2.5-3 MMty Second Phase for West Africa LNG Export Project appeared first on Natural Gas Intelligence

Roof weighing 900 tons raised using 0.3 psi of air pressure. [Image credit: Venture Global]

Advantage drilled eight of the top 10 Alberta Montney producing wells in 2022. [Image credit: Advantage Energy]

British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but this will offer little relief to consumers as energy costs continue to rise.

The permits necessary for Equitrans Midstream Corp.’s long-delayed Mountain Valley Pipeline (MVP) to advance may come as early as May, allowing the company to bring the project in-service by 2023, CEO Thomas Karam announced.  EQM is expecting the biological opinion from the U.S. Fish and Wildlife Service by next Tuesday, “and based on the permitting…

The post Equitrans CEO Says Company May Bring MVP into Service in 2023, Plans for Pipeline Capex Tripling appeared first on Natural Gas Intelligence

Pioneer Natural Resources Co. CEO Scott Sheffield expressed a bullish oil price outlook on Thursday (Feb. 23) during the company’s fourth quarter earnings call. Irving, TX-based Pioneer is the largest producer in the Permian Basin, with operations focused on the Midland sub-basin. “We remain highly constructive on oil prices,” Sheffield told analysts. “I’m still very…

The post Pioneer’s Sheffield Predicting $90 to $100 Oil Price by Early Summer appeared first on Natural Gas Intelligence

Natural gas futures extended their recent rally in early trading Monday, drawing on a combination of technical momentum and colder March forecast trends. Coming off a 11.6-cent gain to close out last week’s trading, the April Nymex contract was up 15.0 cents to $2.698/MMBtu at around 8:40 a.m. ET. Taking over as the new prompt…

The post Technical Factors, March Chills Seen Lifting Natural Gas Futures in Early Trading appeared first on Natural Gas Intelligence

Since Russia invaded Ukraine on February 24, the global energy matrix has been turned inside out and upside down, and uncertainty is growing about exactly what an “energy transition” should look like. [Gas in Transition, Volume 3, Issue 1]

Pipeliner music is raw, often emotional, and 100% authentically American in character. It speaks for a culture of family, work and strength. We need it! Continue reading →

The post Pipeliner Music Is An All American Experience! appeared first on Natural Gas Now.

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about Lithium, Pittsburgh Airport, MWCD and much more last week. Continue reading →

The post Shale Gas News – February 25, 2023 appeared first on Natural Gas Now.

ADNOC will sell now sell 3.84bn shares or 5% of ADNOC Gas instead of 4%. [Image: ADNOC]

Kazakhstan and Uzbekistan seem apathetic towards Moscow’s grand plan. [Gas in Transition, Volume 3, Issue 1]

The project had been running for more than 100 days since it began trial operations in October last year.

SMJ, a company owned by Sabah state, will acquire a 50% participation interest in the Samarang oil and gas field offshore Sabah. [Image: Petronas]

Bangladesh’s Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued a tender for the third liquefied natural gas (LNG) cargo it has sought since Dhaka reversed last year’s decision to halt spot purchases, two company officials said on Friday.

U.S. power plant emissions of pollutants that harm human health and warm the planet fell last year as the industry continued a switch from coal to natural gas, the Environmental Protection Agency said on Friday.

The company said its annual revenue rose to $16.82bn, from $6.96bn in 2021.