Natural Gas

Phillips 66 Budget Down 43% From 2020’s Forecast

Phillips 66 said its 2021 budget includes capital expenditures of $776 million on the refining segment and $610 million on midstream as the energy industry struggles to recover from the blow of the COVID-19 pandemic.

Despite a Late Surge, Oil Ends 2020 Down 20%

Brent and U.S. crude benchmarks have more than doubled from April's nadir as producers cut output to match weaker demand. News of coronavirus vaccine distributions also bolstered prices in the fourth quarter, helping futures recover to the highest in about 10 months.

Energy Sector Could Get Reprieve from ‘Golden Cross’ Chart Signal

Energy could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday. The bullish development in S&P 500 energy sector is called a “golden cross,” which is conventionally defined by technical analysts as the 50-day moving price average rising above the 200-day moving average.

Russia’s Gazprom Signs Deal on Gas Prices with Belarus for 2021

Russia and Belarus said the two countries signed a deal on gas prices for 2021, easing tensions between the two former Soviet countries.

LNG Prices Reach 6-Year High as Winter Storm Hits Asia

As an early winter chill grips China, South Korea and Japan, prices for LNG and power are rising due to supply crunches and a surge in demand with more cold weather expected.

Oil Settles Up, Marking 7th Straight Weekly Gain

Oil settled up at a nine-month high on Friday, rounding out seven straight weeks of gains as investors focused on vaccine rollouts and a decline in the U.S. dollar.

Court Approves Williams' Deal with Bankrupt Chesapeake

A bankruptcy court has approved Williams' agreement to take ownership of some Chesapeake Energy assets in exchange for accepting lower gas gathering fees.

As Biden Cabinet Takes Shape, API Seeks Voice in Energy, Climate Policy

The American Petroleum Institute on Thursday reached out to the incoming Biden administration to collaborate on climate and energy policy, calling energy a non-partisan issue that modern life depends on.

APGA Focuses on Industry Safety, Advocacy

In this interview, APGA Chairman John Leary discusses the association's priorities for the coming year, helping members who are coping with the coronavirus and engaging the public concerning natural gas and other topics.

Uzbekistan to Cut Gas Exports Amid Domestic Shortages

Uzbekistan will cut natural gas exports, which mostly go to China, because of domestic energy shortages, the Central Asian country's energy ministry said on Thursday.

Oil Prices Hit 9-Month High after Inventory Draw

il climbed to a nine-month high on Thursday after government data showed a fall in U.S. crude stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices.

Lacking Pipelines, U.S. Northeast Gas Prices Jump Ahead of Winter Storm

U.S. Northeast power and natural gas prices for Wednesday jumped to their highest level in almost a year as energy companies prepare for what could be the region's biggest winter storm in years.

Pinnacle Midstream II Plans Gathering, Compression System in Midland Basin

Pinnacle Midstream II on Tuesday said it has signed a 15-year gas gathering, processing and purchase agreement with DoublePoint Energy that anchors Pinnacle’s greenfield build of a new natural gas gathering and compression system in the Midland Basin.

EU Proposes Funding Shift Away From Natural Gas

The European Commission on Tuesday proposed rules to restrict funding for natural gas projects and instead funnel cash into low-carbon technologies to meet climate goals.

Russia Restarts Nord Stream 2 Pipeline Construction Despite U.S. Sanctions

Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions.

EU May Restrict Support for Natural Gas Projects, Citing Climate Goals

The European Union is planning to restrict its funding for natural gas projects because of the risk they pose to the bloc's climate goals, according to draft rules seen by Reuters.

Trans Adriatic Pipeline Explores Feasibility of Blending Hydrogen

Developers of the Trans Adriatic Pipeline (TAP) have started feasibility studies on blending hydrogen with the natural gas the pipeline will bring in from Azerbaijan, the TAP head said.

EIA: Natural Gas Venting, Flaring Set Records in 2019

U.S. natural gas venting and flaring hit an all-time high of 1.48 Bcf/d last year, with the bulk of those volumes coming from North Dakota and Texas, updated government statistics show.

Kinder Morgan Sees Higher Income in 2021, Raises Dividend

Kinder Morgan Inc said on Tuesday it expects to generate higher income in 2021 and raised its annual dividend, as the pipeline operator cost cuts this year in the face of oil demand destruction.

Enbridge Expects Higher Pipeline Volumes, Rates in 2021

Canadian pipeline operator Enbridge Inc on Tuesday forecast higher core earnings in 2021 and raised its annual dividend, saying it expects to see volume on its Liquids Mainline System improve next year.

U.S. Gas Prices Stumble on Mild Start to Winter

U.S. natural gas prices have tumbled since the start of November as persistent mild weather has caused inventories to remain high rather than drawing down in line with seasonal trends.

China Hits 26% of 2020 Target for U.S. Energy Imports under Trade Deal

China has accelerated imports of crude oil, propane and LNG from the United States since July, but total energy product purchases through October remain far short of targets for 2020 set out in the Phase 1 trade deal with Washington.

Russian Pipelaying Vessel Stops Near Nord Stream 2 Site

The Russian pipe-laying vessel Akademik Cherskiy stopped on Saturday near the construction site of the Nord Stream 2 gas pipeline in the Baltic Sea, Refinitiv Eikon data showed on Saturday.

Asia Needs Flexible LNG Deals Not Linked to Oil Prices - India Oil Minister

Asia needs flexible LNG contracts with no links to oil prices to reflect changes to the market as demand recovers from the impact of the coronavirus pandemic, India's oil minister said.

Eni Strikes Deals to Reopen Egypt's Damietta LNG Plant

Italian energy group Eni has struck deals with Spanish gas firm Naturgy and Egyptian partners to resolve disputes over a shuttered gas plant it part owns in northern Egypt.

U.S. Shale Firms Ramp Up Gas Output as Futures Signal Higher Prices

Higher natural gas futures prices for 2021 and a continued glut of crude oil are prodding U.S. shale firms to boost gas drilling and production.

China Launches 685-Mile Section of Natural Gas Pipeline

Operations have started on the middle portion of the China-Russia East natural gas pipeline, allowing natural gas from the Power of Siberia system in Russia to be transmitted to a smog-prone region in northern China.

Mexico Shuts Off Natural Gas Supply to Brazil's Braskem

Mexico has cut off natural gas supply to Braskem's Mexican operations, the company and government said, intensifying a dispute between President Andres Manuel Lopez Obrador and the Brazilian petrochemical company.

Fire Shuts Equinor Gas Processing Terminal, Methanol Plant

A fire at Norway's Tjeldbergodden industrial facility on Wednesday triggered an evacuation of staff and the shutdown of Europe's largest methanol plant and a gas processing terminal, state-controlled oil firm Equinor said.

Gassco Changes Make Norway Gas Flows Harder to Gauge - Analysts

Norwegian gas pipeline operator Gassco launched a revamped data website this week that switches away from live physical flows, drawing criticism from analysts who say it has reduced transparency in a key energy market.