U.S. Gas Is Having Its Best Week of 2016 as Supply Glut Narrows

Edit Bloomberg 22 Apr 2016
U.S. natural gas futures are having their best week of the year on signs that summer-like temperatures in the East will help trim a supply glut ... A gas surplus to the five-year average has narrowed 11 percent from a four-year high at the start of the month on an unexpectedly chilly start to April ... Natural gas futures for May delivery rose 5.9 cents, or 2.9 percent, to $2.127 per million British thermal units at 1.15 p.m ... 1.  ... said ... ....

Supreme Court upholds government’s LNG pool-pricing policy

Edit Yahoo Daily News 21 Apr 2016
The Supreme Court has upheld the government’s 2007 directive facilitating pool-pricing of re-gasified liquefied natural gas (RLNG) ... Petronet’s long-term LNG import price of $2.53 per million British thermal unit (mBtu) was averaged with spot LNG, priced at about $8.5 per mBtu ... The companies had sought cancellation of the Centre’s decision to make a policy change even in existing contracts ... ....

GAIL India to swap US LNG

Edit The Times of India 21 Apr 2016
New Delhi, Apr 21 () State-owned gas utility GAIL India Ltd will swap one-third of the liquefied natural gas (LNG) it has contracted from the US with a gas seller nearer to the country to save on transportation costs. GAIL, in two deals, contracted 5.3 million tonnes a year of super-cooled gas (LNG) from the US starting 2018 ... We believe we can save 40-50 cents per million British thermal unit through the swap," he said ... ANZ ABK ....

Egyptian mega gas find in limbo as Eni cuts jobs

Edit The National 21 Apr 2016
The United Kingdom, for instance, will receive less than £1 billion (Dh5.3bn) for new projects this year compared to the £8bn annually over the past five years, according to the trade organisation Oil and Gas UK ... "They fired all of the expatriates from exploration," he said ... Eni declined to comment on the matter ... Egypt General Petroleum Corporation (EGPC) previously paid producers about $2.50 per million British thermal units of gas....

Russia and Norway Use Saudi Oil Strategy in Europe's Gas Market

Edit Bloomberg 21 Apr 2016
Europe is awash with low-priced natural gas, thanks to Russia and Norway using a Saudi-like tactic to hold market share ... Fitch Group Inc.’s BMI Research forecasts prices may slide 28 percent to as low as 20 pence a therm ($2.88 per million British thermal units) this summer.Dominant Shippers ... 1 ... Centrica’s British Gas unit reported a 31 percent jump in earnings last year and cut household tariffs about 5 percent from March ... ....

Americans used less energy in 2015 than in previous year, solar use makes a big leap

Edit Treehugger 20 Apr 2016
Every year, the Lawrence Livermore National Laboratory (part of the Department of Energy) releases an energy flow chart showing how much and what types of energy were consumed in the U.S. in the past year ... Compared to 2014, Americans used 0.8 quadrillion BTU (quads) less energy in 2015. A BTU or British Thermal Unit, is a unit of measurement for energy and 3,600 BTU is equivalent to about 1 kilowatt-hour ... ....

U.S. Gas Jumps by Most Since December on Warmer Weather Outlook

Edit Bloomberg 19 Apr 2016
U.S. natural gas futures posted the biggest one-day gain since December as unseasonably hot weather stoked demand from electricity generators to run air conditioners. The rally accelerated after a U.S ... Gas futures for May delivery advanced 14.8 cents, or 7.6 percent, to $2.088 per million British thermal units on the New York Mercantile Exchange, the biggest one-day gain since December 28 and the highest settlement since Feb. 9 ... ....

LNG Exports Shaved 35 Billion Cubic Feet From the U.S. Gas Glut

Edit Bloomberg 19 Apr 2016
The first exports of U.S. shale gas are already helping to prevent prices for the fuel from revisiting a 17-year low ... 23, with most of that volume arriving in the last six weeks ... “Had Cheniere not been able to begin, it would have been a bearish factor for sure.”. Natural gas futures have rebounded 26 percent since dropping to $1.611 per million British thermal units early last month, the lowest intraday price since August 1998 ... ....

Oil Search first-quarter sales fall 34pc as lower prices offset record output

Edit Sydney Morning Herald 19 Apr 2016
Weaker commodity prices pushed Oil Search's quarterly revenue lower despite record production, including a stellar performance from the PNG LNG project ... The average realised price for oil and condensates was 32 per cent lower than in the March 2015 quarter, while the average LNG price was down 45 per cent at just $US6.84 per million British thermal units ... Advertisement ... ....

A Lasting Solution To Low Oil Prices

Edit Oil Price 19 Apr 2016
In this analysis, I look at oil production of the United States broadly (including crude oil, natural gas plant liquids, and biofuels), because this is the way oil consumption is defined. I also provide some thoughts regarding the direction of future world oil prices. (Click to enlarge) ... U.S ... It should be noted that in the above charts, amounts are on an “energy produced” or “British Thermal Units” (Btu) basis....

Laredo Petroleum Schedules First-Quarter 2016 Earnings Conference Call for May 5 and Provides Commodity Derivatives Update

Edit Stockhouse 19 Apr 2016
First-Quarter 2016 Conference Call. Thursday, May 5, 2016. 7.00 a.m. CT (8.00 a.m. ET). Dial-in number. 877.930.8286. International dial-in number. 253.336.8309. Conference Code. 94358441 ... CT ... The Company had also hedged 14,025,000 million British thermal units (“MMBtu”) of natural gas for 2016 at a weighted-average floor price of $3.00 per MMBtu, representing approximately 75% of anticipated natural gas production for 2016....

Laredo Petroleum Schedules First-Quarter 2016 Earnings Conference Call for May 5 and Provides Commodity Derivatives Update (Laredo Petroleum Inc)

Edit Public Technologies 19 Apr 2016
(Source. Laredo Petroleum Inc). First-Quarter 2016 Conference Call. Thursday, May 5, 2016. 7.00 a.m. CT (8.00 a.m. ET). Dial-in number. 877.930.8286. International dial-in number. 253.336.8309. Conference Code ... CT ... The Company had also hedged 14,025,000 million British thermal units ('MMBtu') of natural gas for 2016 at a weighted-average floor price of $3.00 per MMBtu, representing approximately 75% of anticipated natural gas production for 2016....

Fitch Affirms Perusahaan Gas Negara at 'BBB-'/'AAA(idn)'; Outlook Stable (Fitch Inc)

Edit Public Technologies 19 Apr 2016
(Source. Fitch Inc). 19 Apr 2016 4.56 AM EST. Fitch Ratings-Singapore/Jakarta-19 April 2016 ... PGN's gas distribution spread, a key determinant of its operating cash generation, declined to USD3.4 per million British thermal unit (mmbtu) in 2015, from USD3.7/mmbtu in 2014 ... Negative ... 2.5x) ... Fitch has adjusted the debt by adding 8x of yearly operating lease expense related to its floating storage regasification unit (FSRU) in Lampung of USD40m....
×