UK energy services company Hunting reduces profit forecast due to lower oil prices
Hunting Plc, a British energy services company, slashed Tuesday its profit forecast for the entire year. This was partly due to the prospect of lower client activity in the remainder of the calendar year as a result of lowered oil prices and a renewed drop in U.S. Natural Gas pricing.
Kansas Fed reports that drilling activity in the US Rockies and Midwest has fallen for the seventh consecutive quarter.
According to survey results released by Federal Reserve Bank of Kansas City on Friday, oil and gas activity in U.S. Midwest Rockies and Midwest declined in the third quarter. This is the seventh consecutive quarterly decline. The survey was conducted…
EOG will increase activity in the Utica shale in Ohio, says company
Jeff Leitzell, chief operating officer of Houston-based EOG Resources, told the Barclays CEO Energy-Power Conference attendees in New York that the company expects to increase operations in the Utica Shale play in Ohio. Leitzell stated that EOG Resources had doubled its Utica activity year-on-year.
Kemp: Oil bears become cautious as financial markets ease.
Investors reduced their short positions on petroleum after the other financial markets stabilized following an abrupt plunge earlier in this month. Crude prices also found support above $75 a barrel. Over the course of the week ending August 13…
Market in Focus: Gas Ships
Liquefied natural gas (LNG) shipping hasn’t been able to avoid the negative impact of COVID-19 as gas demand fell during the first quarter of 2020.The residential sector recorded the largest drop in consumption this year compared to 2019 which wasn’t helped by the mild winter seen in the US.
Asia LNG Spot Prices Drop to Multi-year Low
Asian liquefied natural gas (LNG) spot prices dropped to multi-year lows on Tuesday with at least one cargo being sold into Northeast Asia below the psychological barrier of $4 per million British thermal units (mmBtu).Gas prices are tumbling globally…
Exceptional Growth in LNG Trade, Says Awilco
The exceptional growth in LNG trade recorded in the first half of the 2019 continued in Q3, says Awilco LNG Group, the Norwegian based fully integrated pure play LNG transportation provider.According to Fearnleys LNG total LNG trade is up about 13 % in the first nine months of the year vs last year.
GasLog Sees Tighter LNG Shipping Market
GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising…
LNG Spot Shipping Rates Increase, Says Awilco
In spite of low gas prices due to ample LNG supply growth and muted demand so far in 2019 spot shipping rates have gradually increased over the last few months and are currently about USD 70,000 per day on average, said Awilco LNG Group.According to Norwegian LNG transportation provider…
RWE Open to Partnerships in US Wind
German utility RWE would consider teaming up with peers and oil companies to make a move in the U.S.
Oil Falls Towards $53 on Economic Worries, Surging Supply
Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and concerns about an economic slowdown that could weaken demand.Russian production hit a post-Soviet record in 2018, figures showed on Wednesday. Other data showed U.S.
API Launches Voluntary Program to Cut Methane
The American Petroleum Institute on Tuesday launched a voluntary program to cut emissions of the greenhouse gas methane from oil and gas operations, a move environmentalists said was not strong enough to adequately protect the climate. Under the program…
Petronas Scraps $29 bln Canada LNG Project
Decision widely expected after long delay, weak prices. Malaysian oil company Petronas has scrapped a proposed C$36 billion ($29 billion) liquefied natural gas (LNG) project in western Canada due to weak prices, in a blow to both its global ambitions and Canada's hopes of becoming a major LNG player.
US to Speed Approval for O&G Exploration on Federal Land
U.S. Interior Secretary Ryan Zinke on Thursday signed an order to hold more lease sales and to speed up approving permits to explore for oil and gas on federal land, a process he said got bogged down under former President Barack Obama. The order…
Trump Won't Seek to Roll Back CA Vehicle Rules
President Donald Trump will announce the U.S. Environmental Protection Agency will revive a review of the feasibility of strict fuel efficiency standards through 2025, but will not seek to withdraw California's authority to set its own vehicle rules, a White House official said late on Tuesday.
US Gas Prices Tumble, But Market is Tightening: Kemp
U.S. natural gas prices plunged on Tuesday amid forecasts that temperatures will be average or higher across most population centres by the middle of January. Earlier forecasts had predicted colder temperatures would persist through most of January, boosting heating demand.
U.S. Gas Prices Tumble, but Market is Tightening
U.S. natural gas prices plunged on Tuesday amid forecasts that temperatures will be average or higher across most population centres by the middle of January. Earlier forecasts had predicted colder temperatures would persist through most of January, boosting heating demand.
U.S. NatGas Prices Caught in Crossfire: Kemp
U.S. natural gas prices are caught in the crossfire between warmer-than-normal weather and a structurally tightening supply-and-demand balance. Working gas stocks in underground storage rose by 73 billion cubic feet to 3,909 billion cubic feet last week, according to the U.S.
Falling U.S. Gas Output meets Strong Demand
The U.S. natural gas market is on an unsustainable trajectory as consumption grows rapidly while domestic production is falling. Gas production was down nearly 4 percent in July compared with the same month a year earlier, according to data published by the Energy Information Administration.
Engie Considers Future of its LNG Unit
French gas and power group Engie is considering the future of its liquefied natural gas (LNG) business, which could lead to a reorganisation and maybe a sale, the firm's CGT union said on Monday. Earlier this year, Engie set a target to sell 15 billion euros ($16.8 billion) worth of assets in 2016-18…
