NGG20.NYM - Natural Gas Feb 20

NY Mercantile - NY Mercantile Delayed Price. Currency in USD
1.8900
-0.0360 (-1.87%)
As of 8:53AM EST. Market open.
Stock chart is not supported by your current browser
Pre. SettlementN/A
Settlement Date2020-01-29
Open1.9380
Bid1.8910
Last Price1.9260
Day's Range1.8720 - 1.9450
Volume30,589
Ask1.8910
  • Thomson Reuters StreetEvents

    Edited Transcript of NG.TO earnings conference call or presentation 23-Jan-20 4:00pm GMT

    Full Year 2019 NovaGold Resources Inc Earnings Call

  • Brazil to Stay Out of OPEC to Make the Most of Output Expansion
    Bloomberg

    Brazil to Stay Out of OPEC to Make the Most of Output Expansion

    (Bloomberg) -- Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC.The South American nation expects to be among the top-five energy exporters by 2030, and is tapping private investment to boost output, according to energy and mines minister Bento Albuquerque. It’s also working on making rules more favorable for investors in upcoming auctions for oil and natural gas licenses.“The idea is just to increase our production and to participate more in the international oil and gas market,” he said in an interview in New Delhi. “But this is not a plan for Brazil to join OPEC or any other association or group of oil and gas producers. We don’t want restrictions, we want to increase our production.”With Brazil’s output set to significantly expand in the next few years as more of its offshore reserves are drilled, speculation has swirled over whether it will become part of OPEC. While President Jair Bolsonaro last year welcomed an informal invitation to join the group, the head of the country’s state-controlled energy company dismissed the idea.Brazil is open to having discussions with members of the Organization of Petroleum Exporting Countries on energy-related issues, Albuquerque said. He expects to visit Saudi Arabia, OPEC’s biggest producer, later this year.The Latin American country is seeking feedback from global oil majors to improve participation in upcoming auctions. It wants to increase the share of output from companies other than state-controlled Petroleo Brasileiro SA, known as Petrobras.“Petrobras has a lot of oil and lot of areas to exploit, but it doesn’t have enough funds to prospect all these areas,” Albuquerque said. “There’s a limit for Petrobras. For that reason, we want to make it attractive for others to come and do the investment.”Albuquerque’s other comments:Brazil sees room for increasing energy exports to India, one of the fastest growing consumers of oil.The country has proposed that Indian companies set up refineries in Brazil and participate in Petrobras’ sale of some of its plants.Brazil is considering opening up its nuclear industry to private companies, plans to complete its third atomic power plant by 2025 and wants to build six more.State-owned Industrias Nucleares do Brasil, or INB, will resume uranium mining at Caetite in the Bahia state next month after a gap of five years.To contact the reporters on this story: Debjit Chakraborty in New Delhi at dchakrabor10@bloomberg.net;Rajesh Kumar Singh in New Delhi at rsingh133@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Pratish Narayanan, Christine BuurmaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Gold Price Forecast – Gold Markets Continue To Show Buyers
    FX Empire

    Gold Price Forecast – Gold Markets Continue To Show Buyers

    Gold markets pulled back a bit during the trading session on Thursday, as we continue to see plenty of support near the $1550 level. At this point, the market looks likely to see value hunters come back in every time we dip.

  • Gold Price Futures (GC) Technical Analysis – Holding $1558.80 Could Fuel Rally into $1574.80 – $1581.20
    FX Empire

    Gold Price Futures (GC) Technical Analysis – Holding $1558.80 Could Fuel Rally into $1574.80 – $1581.20

    The direction of the April Comex gold futures contract the rest of the session on Thursday is likely to be determined by trader reaction to $1558.80.

  • GBP/JPY Price Forecast – British Pound Pulls Back Against Japanese Yen
    FX Empire

    GBP/JPY Price Forecast – British Pound Pulls Back Against Japanese Yen

    The British pound pulled back a bit against the Japanese yen during the trading session on Thursday, as we continue to see a lot of volatility in this pair. Ultimately, this is a market that is very risk sensitive, so keep in mind that it will ebb and flow with other markets.

  • EUR/USD Daily Forecast – Euro Holds Near Important Support Confluence Ahead of ECB
    FX Empire

    EUR/USD Daily Forecast – Euro Holds Near Important Support Confluence Ahead of ECB

    The range in EUR/USD has been narrowing through the week but volatility is expected later today as the European Central bank meets to discuss monetary policy.

  • GBP/USD – Pound Rebounds, Punches Above 1.31
    FX Empire

    GBP/USD – Pound Rebounds, Punches Above 1.31

    The British pound has flexed some muscle, as GBP/USD has climbed above the 1.31 line for the first time in two weeks. Will the upward move continue?

  • Oil Price Fundamental Daily Forecast – Weak on Fear of Lower Demand
    FX Empire

    Oil Price Fundamental Daily Forecast – Weak on Fear of Lower Demand

    It looks like the coronavirus story is not going to go away over the near-term and actually conditions could worsen. It’s difficult for professionals to gauge the impact on demand at this time so we may not see a bottom until the speculators stop shorting the market.

  • Rigzone.com

    Sinking Natural Gas Prices Have Drillers Hitting the Brakes

    Gas production is showing signs of a slowdown after years of runaway growth.

  • Oilprice.com

    The 1.2 Million Bpd Outage That Oil Markets Are Completely Ignoring

    As the war for control of Libya and all of its oil rages on Haftar may soon bring Libyan oil exports down to zero, yet the oil market appears to be entirely uninterested

  • Oil-Rich Family Bets Its Millions on Cleaner Fuel in Indonesia
    Bloomberg

    Oil-Rich Family Bets Its Millions on Cleaner Fuel in Indonesia

    (Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.For much of Juchiro Tampi’s life, black gold from Indonesia’s resource-rich soils powered his family’s business -- one of the country’s few privately held petroleum producers. But as prices falter and environmental activism rises, he’s turning from oil to a cleaner energy source: natural gas.Tampi’s firm Sele Raya plans to raise $100 million in an initial public offering of some of its assets this year on Indonesia’s stock exchange. The funds will be used to develop natural gas deposits his family discovered, joining a rush of projects driven by insatiable domestic demand, low costs and favorable domestic prices that ensure healthy profits.Stagnating production from existing fields will force Indonesia -- long an exporter of natural gas -- to boost imports of the fuel as early as the middle of this decade. The government has been encouraging companies to explore natural gas resources and has reiterated its commitment to keeping half of total production for use at home.Firms are heeding the call.They’re more than willing to develop new projects since operating costs are traditionally low and they can sell to domestic industrial users at rates roughly 60% higher than if they exported the fuel as liquefied natural gas to the North Asian spot market.With the LNG market oversupplied and prices expected to stay low, Indonesia’s producers -- such as Tampi, alongside bigger players such as PT Medco Energi Internasional and PT Pertamina -- are likely keen to sell their gas domestically.Travel, FoodTampi, 40, has a nuanced way of spotting the rising demand -- observing the consumption habits of his compatriots. From Sumatra to Sulawesi, lifestyles are becoming more energy intensive as the growing middle class spends more money on everything from dining out to home appliances.“Our population is increasing and millennials, the younger age group, are also growing,” he said, adding that, in turn, had driven environmental awareness. “They travel more, they eat more and all of those activities are fueled by energy.”Beyond millennials, Tampi says everything is trending toward an Indonesian economy that’s less reliant on oil. In December, the country announced plans to foster a domestic electric car industry.“When you do business you want to make a profit, but now we’re in the era of sustainable business,” he said. “So you want to have a social impact, do good while still making a profit. My vision is the electric car is here and it will become a mass-produced product.”Indonesia’s government has also set an ambitious goal of connecting the entire archipelago to the grid and providing everyone with electricity by 2024. Coal remains a key part of that but gas-powered plants are set to play an increasingly important role; Pertamina’s Jawa-1 project is set to generate up to 1,760 megawatts from 2021 onward.Domestic gas producers, therefore, have a ready market. Using proceeds from its planned IPO as well as existing cash flows, Sele Raya expects to plow $150 million into additional production facilities over the next three years.Economic EngineWhile Tampi spent most of his youth in Jakarta, he went to the U.S. as a 15-year-old to study at Georgetown Preparatory School in Maryland, and later earned a degree in finance and marketing from New York University. He joined the family business in 2006 after a stint running his own oil and gas contractor, as well as a few years at American firms.Sele Raya was founded by Tampi’s father in the 1970s, contracting to oil companies. It began exploration and production in 1992. Almost all Indonesian companies are family-run, and Sele Raya isn’t an exception, with Tampi’s three sisters holding key roles.Natural gas is typically measured in blocks of million British thermal units. Tampi said that while it costs his company as much as $1.61 per million Btu, his customers are willing to pay $5.90 because they sell it onto end users like fertilizer producers and factories for almost double. End users are paying on average as much as $9 per million Btu, according to Industry Minister Agus Gumiwang Kartasasmita.However, the government is also in the midst of a heated debate over how to lower domestic gas prices, which could be bad news for companies like Sele Raya. Authorities may scrap or reduce their share of revenue from gas sales in an attempt to get the price down to $6 per million Btu, according to Luhut Pandjaitan, the coordinating minister for maritime affairs and investment.“The government’s focus has shifted from treating gas as a revenue source to an engine for industrial and economic growth,” said Asti Asra, an analyst at Wood Mackenzie. “By making gas more easily available, there’s a hope downstream industries will also grow.”Tampi isn’t that worried about government changes; his sales agreement is already set for 2031 and he doesn’t believe the new regulations will retroactively affect deals. Even if they do, he says Sele Raya’s ability to keep the cost of gas discovery and exploration down will help it thrive.If all goes well, profits from Tampi’s fields will go into a mix of gas exploration and technology investments. But for now, fresh oil discoveries are off the agenda.“The oil sector is already mature,” he said, explaining that historical fuel subsidies and high prices have seen much of the region’s fields explored. “The upside is in gas.”To contact the reporters on this story: David Ramli in Singapore at dramli1@bloomberg.net;Stephen Stapczynski in Singapore at sstapczynsk1@bloomberg.netTo contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Peter VercoeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Oilprice.com

    The Complete Guide To Hydraulic Fracturing

    The complete guide to hydraulic fracturing explains and summarizes the techniques and tools used in the hydraulic fracturing processes in the oil & gas industry

  • EUR/USD MId-Session Technical Analyis for January 22, 2020
    FX Empire

    EUR/USD MId-Session Technical Analyis for January 22, 2020

    Based on the early price action and the current price at 1.1085, the direction of the EUR/USD into the close on Wednesday is likely to be determined by trader reaction to a downtrending Gann angle at 1.1093 and an uptrending Gann angle at 1.1071.

  • Oilprice.com

    Goldman: China Coronavirus Could Push Oil Down By $3

    The outbreak of a coronavirus in China that is now an international threat could cut oil demand by 260,000 bpd according to Goldman Sachs

  • Reuters

    Priority status for EU fossil fuel projects raises green hackles

    European lawmakers on Wednesday approved the European Union's list of priority energy projects that are eligible for up to 30 billion euros ($33.5 billion) in funding, ignoring objections over its inclusion of fossil fuel schemes. The European Commission, the EU executive, has made carbon neutrality by 2050 one of its top priorities and plans to formalise it with its first-ever climate law in February. Environment campaigners and Green politicians have raised concerns that the list's inclusion of fossil fuel projects and gas infrastructure is incompatible with the 2015 Paris Agreement on Climate Change and the EU's own ambition to cut carbon emissions.

  • Aussie Dollar Slips Amid Fears over Wuhan Coronavirus
    FX Empire

    Aussie Dollar Slips Amid Fears over Wuhan Coronavirus

    Mystery virus poses a threat to the Chinese economy and the Phase One trade deal may not actually help the Aussie dollar.

  • Exclusive: BP's Looney goes all-in on climate goals and explores overhaul
    Reuters

    Exclusive: BP's Looney goes all-in on climate goals and explores overhaul

    Incoming Chief Executive Bernard Looney plans to expand the company's climate targets and is considering overhauling the structure of the oil and gas major in one of the biggest shake-ups in its 111-year history. The 49-year-old Irishman plans to adopt broader carbon emissions reduction goals that will likely include emissions from fuels and products sold to customers rather than just the far lower emissions from BP's own operations, according to four sources with knowledge of internal discussions with the new CEO. The aim is to catch up with, and possibly outdo, rivals such as Royal Dutch Shell and Repsol as investor pressure over climate change mounts, said the sources who declined to be named as the plans have not yet been made public.

  • Natural-Gas Prices Fall Below $2
    The Wall Street Journal

    Natural-Gas Prices Fall Below $2

    Natural-gas futures fell to their lowest level in nearly four years, highlighting how a persistent glut has buffeted energy investors and producers.

  • Oil & Gas Stock Roundup: Schlumberger's Q4, Eni's Agogo Start-Up & More
    Zacks

    Oil & Gas Stock Roundup: Schlumberger's Q4, Eni's Agogo Start-Up & More

    Schlumberger (SLB) reported upbeat Q4 earnings on strength in its international operations. Meanwhile, Eni (E) announced the flow of first oil from the Agogo field, offshore Angola.

  • Natural Gas Price Prediction – Price Drop on Technical Breakdown
    FX Empire

    Natural Gas Price Prediction – Price Drop on Technical Breakdown

    Warm weather forecast weighs on prices

  • Oil Falls Despite Major Outage In Libya
    Oilprice.com

    Oil Falls Despite Major Outage In Libya

    Oil prices fell on Tuesday morning as a deadly virus in China stoked fears of an economic slowdown, and even the escalation in Libya’s oil war couldn’t bring bullish sentiment back

  • Australian Dollar Could Slide After Phase One Deal
    FX Empire

    Australian Dollar Could Slide After Phase One Deal

    The U.S-China trade war has dampened the Australian economy, as China is a key trading partner for Australia. The Phase One trade accord could weigh on the Australian dollar, as a Chinese commitment to purchase more U.S. goods could come at the expense of Australian exports.

  • Silver Price Forecast – Silver Markets Pulled Back Drastically
    FX Empire

    Silver Price Forecast – Silver Markets Pulled Back Drastically

    The silver markets fell significantly during the trading session on Tuesday as the Americans came back to work. However, we are starting to see signs of life at a major technical indicator.

  • Crude Oil Price Forecast – Crude Oil Markets Volatile To Kickoff Week
    FX Empire

    Crude Oil Price Forecast – Crude Oil Markets Volatile To Kickoff Week

    While there was some electronic trading on Monday, now that the Martin Luther King Jr. holiday is over with, more volatility and liquidity was available in the futures markets.