Day: March 15, 2023

Revenue rose to US$5 billion, but net earnings dropped to US$737.4 million

Revenue rose to US$5 billion, but net earnings dropped to US$737.4 million

Revenue rose to US$5 billion, but net earnings dropped to US$737.4 million

Revenue rose to US$5 billion, but net earnings dropped to US$737.4 million

Natural gas futures faltered on Wednesday, a second-consecutive loss, as analysts anticipated another soft government inventory print and traders started to look past a late-winter surge of cold and toward likely benign spring weather. At A Glance: Analysts see modest storage draw Forecasts call for near-term cold Mixed reads on gas production The April Nymex…

The post Natural Gas Futures, Spot Prices Fall Second Day as Market Braces For Bearish Storage Report appeared first on Natural Gas Intelligence

Expect more natural gas output from Latin American nations, according to recent earnings calls and presentations from regional government officials and executives. Management at Brazil’s state oil company Petrobras SA said they were working to employ more of the natural gas from the prolific offshore pre-salt deposits. “We will search for new segments for our…

The post Latin American Nations, Long Focused on Oil, Look to Monetize Natural Gas Resources appeared first on Natural Gas Intelligence

Labor strikes in France that have cutoff the country’s LNG imports have been extended and are poised to stretch into next week. However, the disruptions largely have been brushed aside by the European natural gas trade amid a broader selloff in global energy markets. The General Confederation of Labor (CGT), which represents trade workers, has…

The post Labor Strikes Extended in France, Forcing LNG Traders to Find New Destinations for Cargoes appeared first on Natural Gas Intelligence

More U.S. upstream operators are working to verify the methane emissions of their natural gas, and business is expected to strengthen as choosy buyers, particularly in Europe, choose independently certified gas. Methane, the primary component of natural gas, accounts for about 20% of the global anthropogenic greenhouse gas emissions. The natural gas sector emits a…

The post Natural Gas Buyers – at Home and Abroad – Looking to Compete with Certified Supply, Says MiQ CEO appeared first on Natural Gas Intelligence

Shell plc is not going to determine how quickly the energy transition happens, but there is a role going forward for natural gas and oil, the CEO said last week. CEO Wael Sawan, who took the helm in January from long-time chief Ben van Beurden, spoke at CERAWeek by S&P Global in Houston. Asked if…

The post Shell CEO Says Natural Gas and Oil Key to Future, with Demand Rising appeared first on Natural Gas Intelligence

Natural gas futures fell Tuesday despite mounting weather-driven demand and sliding production. Broader market concerns about inflation and panic in the financial sector helped slow momentum. The April Nymex natural gas futures contract shed 3.3 cents day/day and settled at $2.573/MMBtu. May futures fell 3.6 cents to $2.690. The prompt month had rallied 17.6 cents…

The post April Natural Gas Futures Sputter Despite Weather Support appeared first on Natural Gas Intelligence

American exploration and production firms’ (E&P) continued to drive oil output at strong levels over the last two weeks, though activity slipped from the highs of the year. E&Ps generated 12.2 million b/d for the week ended March 10, even with the prior week, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status…

The post U.S. Crude Production Steady But Off 2023 Peak; Russia Pulls Back appeared first on Natural Gas Intelligence

Framework will include a regulatory cap on emissions from the oil and gas sector. [Image credit: ARC Resources]

As the energy industry clamors for technologies to reach decarbonization goals, renewable natural gas (RNG), though still in short supply, may be the solution for hard-to-abate sectors.  Executives from RNG production, to midstream transportation and to utility applications discussed the potential scalability of the biofuel during a panel at CERAWeek by S&P Global.  After being…

The post RNG Said ‘Key’ to Net-Zero Ambitions, but Voluntary, Long-Term Market Necessary, Executives Say appeared first on Natural Gas Intelligence

Here’s what you need to know about TMX’s skyrocketing costs, which could complicate the sale process

The decline in the spot price of liquefied natural gas (LNG) in Asia to a 21-month low is tempting China to boost its imports of the super-chilled fuel.

Cedar LNG, a joint liquefied natural gas export project by Haisla Nation and Pembina Pipeline Corp. that would ship 400 MMcf/d, has gained an environmental assessment certificate to proceed by the British Columbia (BC) government. BC Premier David Eby described the C$3.2 billion ($2.4 billion) project as an “unprecedented opportunity” for Haisla and its northern…

The post BC Grants Key Permit to Haisla-Pembina Cedar LNG Export Project appeared first on Natural Gas Intelligence

Upstream oil and natural gas employment in Texas rose by 13.7% year/year in January to a total of 198,100 jobs, according to the Texas Independent Producers and Royalty Owners Association (TIPRO). The figure was up by 1,700 jobs versus December 2022, the group said, citing data from the U.S. Bureau of Labor Statistics (BLS). The…

The post Texas Natural Gas, Oil Employment Continues Rally as ‘Strong Demand for Talent’ Still Seen appeared first on Natural Gas Intelligence

Natural gas futures eased lower in early trading Wednesday as the market continued to weigh supportive March cold against a comfortable inventory cushion at this point in the season. The April Nymex contract was off 4.6 cents to $2.527/MMBtu at around 8:45 a.m. ET. Overnight forecast trends were mixed in terms of degree day adjustments,…

The post Natural Gas Futures Slide Early as Storage Cushion Seen Keeping Background State Bearish appeared first on Natural Gas Intelligence

Disruptions from the strike against the French government’s planned pension overhaul stretched into a second week on Wednesday at French refineries and depots, with liquified natural gas terminals (LNG) also blocked.

Banks are reeling from the SVB debacle and suddenly mythical climate change risks at the heart of ESG nonsense are being recognized as not the top priority. Continue reading →

The post Banks Facing Reality Ditch the Climate Foolishness! appeared first on Natural Gas Now.

Japan’s Osaka Gas Co Ltd plans to secure more liquefied natural gas (LNG) than usual in the financial year starting in April to ensure a stable supply of the fuel as global supply is expected to stay tight, its president said on Wednesday.

Operations have begun on a core hole and will be followed by drilling of the next gas production well.

Garbage piled up in Paris, liquefied natural gas operations were suspended and rail services cancelled on Wednesday, with trade unions urging a show of force as President Emmanuel Macron’s pension overhaul neared its finale in parliament.

DSME will deliver these vessels to a shipowner based in the Oceania region.

LONDON/PARIS, March 14 (Reuters) – Blockages at the three French liquefied natural gas (LNG) terminals will be extended for a second week as part of a national protest movement against President Emmanuel Macron’s pension reform plan, two trading sources and French media reported on Tuesday.
The clos…

Electricity prices in eastern Australia are likely to increase at least 20% from July, the country’s energy regulator warned on Wednesday, adding more pain to households battling surging living costs amid high inflation.

The West Akcakoca 1 well is now successfully drilled to a total depth with 55 m of potential gas pay identified.

John Kerry is a pompous elitist with dreams of subduing the common man by employing a climate scheme to put everything and everyone under aristocratic control. Continue reading →

The post John Kerry Reveals the Climate Scheme to Enslave Us All appeared first on Natural Gas Now.