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Enterprise Product Partners Q1 Processed Volumes Rise YOY

Midstream services company Enterprise Product Partners (EPD) highlighted record natural gas inlet processing volumes in its Q1 results on Tuesday, helped by a 9% increase in plant inlet flows in the Permian Basin, to reach 8.3 billion cubic feet per day.The company said marine terminal volumes also reached a record after climbing 15% to 2.3 million barrels per day while natural gas liquids output grew 16% to 1.9 million bpd.It said a "strong start" to 2026 saw it break 12 operational records for volumes handled, helped by the start-up of new assets over the past year, such as the Bahia NGL pipeline, NGL fractionator 14 and three Permian natural gas processing plants.Enterprise Product Partners brought the Mentone West 2 gas processing plant online during the quarter and announced plans for two 300 million cubic feet per day natural gas processing plants in the Midland and Delaware basins. Those two projects will increase gas processing capacity by 12%, it said.Capital investments during the quarter totaled $988 million, with $783 million of that sum for growth capital projects and $205 million for sustaining capital expenditures, it said.Guidance for growth capital spending in 2026 is seen between $2.3 billion and $2.6 billion net of proceeds coming from asset sales totaling $596 million, the company said.

$EPD

Commodities11d ago

Exchange-Traded Funds Lower, Equity Futures Mixed Pre-Bell Tuesday Amid Higher Oil Prices, Earnings Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) was 1.4% lower in Tuesday's premarket activity amid higher oil prices and a deluge of corporate earnings reports.US stock futures were mixed, with S&P 500 Index futures down 0.7%, Dow Jones Industrial Average futures gaining 0.2%, and Nasdaq futures retreating 1.2% before the start of regular trading.The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, will be released at 9 am ET.April's consumer confidence report and Richmond Fed manufacturing index will be released at 10 am ET.In premarket activity, bitcoin was down by 0.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1% lower, Ether ETF (EETH) retreated by 0.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.01%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.5%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was 0.01% lower.Allegion (ALLE) stock was down more than 4% before the opening bell after the company reported lower Q1 adjusted earnings.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.3%, and the iShares US Technology ETF (IYW) was 2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 4.2%, while the iShares Semiconductor ETF (SOXX) fell by 4%.Intel (INTC) shares were up more than 1% in Tuesday's premarket activity after gaining 2.9% at the previous close. Bloomberg reported Monday, citing a person familiar with the matter, that the company has launched an investment-grade bond sale to help finance its $14.20 billion plan to regain full ownership of its Irish chip manufacturing facility.EnergyThe iShares US Energy ETF (IYE) was up 1.4%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.7%.BP (BP) stock was up more than 3% before Tuesday's opening bell after the company reported higher Q1 underlying replacement cost profit and sales.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.3%. The iShares US Consumer Staples ETF (IYK) advanced 0.8%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was 0.2% lower, while the State Street SPDR S&P Retail ETF (XRT) declined by 0.2%.Coca-Cola (KO) shares were up more than 2% pre-bell after the company reported higher Q1 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.5%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) retreated by 0.1%.Zimmer Biomet (ZBH) stock was down more than 2% premarket after closing the prior session with a 1.5% gain. The company reported higher Q1 financial results and said its chief financial officer, Suketu Upadhyay, is leaving the company.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.4% lower.Barclays (BCS) shares were down more than 2% pre-bell. Bloomberg reported the company has reserved 228 million British pounds ($307.9 million) in Q1 to cover the collapse of specialty lender MFS.CommoditiesFront-month US West Texas Intermediate crude oil rose by 5.1% to $101.28 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.7% to $2.53 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 4.7%, while the United States Natural Gas Fund (UNG) was 0.4% lower.Gold futures for May were down by 2.6% at $4,573.30 an ounce on the Comex. Silver futures retreated by 3.9% to $72.60 an ounce. SPDR Gold Shares (GLD) was 2.3% lower, and the iShares Silver Trust (SLV) fell by 3.9%.

$^DJI$^IXIC$^SPX$ALLE$BCS$BETH$BITO$BP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KO$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$ZBH

Commodities11d ago

ElectriGen Plans to Develop 1.8-GW Behind-the-Meter Power Project in Texas for AI Data Centers

ElectriGen said on Monday that it was executing a non-binding letter of intent to develop a 1.8-gigawatt behind-the-meter power platform in Texas to support large-scale AI data center infrastructure.According to the company's press release, the project is set to consist of two separate 900-megawatt natural gas-fired generation facilities, designed to deliver about 1.5 GW of IT load capacity, all of which will come up in an undisclosed region within the Texas market.The platform is expected to operate under a 15-year commercial agreement with options for five-year extensions, and pricing based on the 24/7 power availability.The company noted that the project will utilize high-efficiency natural gas reciprocating engines, and/or turbines, to deliver power at 34.5 kilovolts. It will also feature a battery energy storage system to enhance flexibility and reliability.Chris Combs, the COO and co-founder of ElectriGen, said that the project represents "the scale of infrastructure required to meet the explosive growth of AI and high-performance computing," while noting that AI-driven computing demand was reshaping the energy landscape.

Commodities11d ago

Market Chatter: Abu Dhabi National Oil to Invest 'Tens of Billions' in US Gas Market

Abu Dhabi National Oil will invest "tens of billions of dollars" into the US gas value chain, with 29 potential deals under evaluation, the Financial Times reported Tuesday, citing Nameer Siddiqui, chief investment officer of the company's investment arm XRG.XRG aims to diversify its commodity exposure after the US-Iran conflict disrupted the energy business, while capitalizing on the rising liquefied natural gas demand globally and in the US, Siddiqui told the news agency in an interview.Siddiqui reportedly said that the company was evaluating controlled transactions, drilling joint ventures, and minority stakes.XRG intends to penetrate the entire gas value chain, with projects spanning gas extraction to construction of pipelines, processing plants, and liquefaction facilities. Developments could also include re-gas facilities and pipelines to destination countries.The company wants to be "bold" with its investments in the US energy market, according to Siddiqui.Relative to other companies that failed to build integrated LNG projects in the country, XRG will leverage having a single shareholder with resources and long-term outlook.Alex Munton, director of global gas at Rapidan Energy, as cited by Financial Times, said capital-rich Middle Eastern investors have an advantage in capturing the US gas market because banks typically shun this sector due to oversupply concerns.However, XRG will have to find its way into the "already-established market" following a surge in developments after Russia's invasion of Ukraine boosted demand for US LNG, and due to strong backing from the Trump administration, Munton reportedly said.XRG holds a stake in the Rio Grande LNG plant in Texas.Outside the US, the company has acquired assets in Egypt, Mozambique, and Azerbaijan. It was also interested in Australia's LNG projects, the news agency reported, although it had withdrawn its $19-billion bid for Australian oil and gas firm Santos in September 2025.XRG has so far focused its biggest deals in the chemicals industry, following the merger with Austria's OMV to form Borouge International and the acquisition of Germany's Covestro worth 14.7 billion euros ($17.19 billion).Meanwhile, it will cease investing in low carbon energies due to low demand, and will instead focus on gas projects, according to XRG's energy solutions president Michele Fiorentino, as cited by Financial Times.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities11d ago

Market Chatter: Repsol and Eni Push for Expansion at Venezuela's Cardon IV Gas Field

European energy majors Repsol and Eni (E) are moving to increase output at Venezuela's Cardon IV offshore gas field said project manager Gonzalo Antonio Carrillo, according to a Reuters report on Monday.Speaking at the Venezuela Energetica conference, Carrillo described the ramp-up as an incremental step-by-step process that will eventually require new drilling and infrastructure upgrades, though he did not provide a specific timeline for reaching the new target, as per the report.The push for higher gas volumes coincides with an ambitious production drive by state oil firm PDVSA.Jovanny Martinez, PDVSA's executive vice president, said that Venezuela aims to increase crude exports to 1.06 million barrels per day, with fuel exports expected to hit 134,000 bpd by year-end, the report noted.Martinez reaffirmed the country's long-term goal of returning to 3 million bpd, noting that March exports recently surpassed the 1 million bpd threshold for the first time since 2024, driven by demand from Indian refiners and Caribbean storage hubs.Infrastructure remains a critical bottleneck for the country. Vice Minister for Gas Cindy Rondon emphasized the urgent need to accelerate repairs and optimize the handling of associated gas to meet short-term goals, Reuters said.The legal landscape remains in flux meanwhile as Martinez confirmed that regulations for a sweeping oil reform law are still being finalized, the article said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities11d ago

BP Production Surges 4.5% as Middle East Supply Risks Continue

BP's Q1 production hit 2.34 million barrels of oil equivalent per day, a 4.5% year over year increase driven by major project startups and Bpx Energy shale performance.Despite these operational gains, the energy giant warned that escalating Middle East disruptions will weigh on future output.The oil production and operations division served as the company's primary engine, delivering an underlying profit of $2.0 billion, consistent with Q4 2025.Higher price realizations successfully offset the impact of North Sea divestments. Reported production reached 1,541 mboe/d, marking a 4.5% increase over the previous year.BP's gas and low carbon energy segment posted an underlying profit of $1.3 billion, down slightly from $1.4 billion in late 2025.The dip was attributed to "average" gas marketing results and adverse price lags. However, volume remained strong, with reported production reaching 798 mboe/d, also up 4.5% year-on-year.Reported production for this segment hit 798 mboe/d, up 4.5% from the same period last year.Despite the strong start to 2026, BP issued a cautious outlook for the second quarter.The company expects reported upstream production to decline due to seasonal maintenance predominantly affecting operations in the Gulf of Mexico and Middle East disruption.The company warned that refining margins and fuel volumes remain highly sensitive to the "extent and duration" of current conditions in the Middle East.BP maintains its 2025 underlying production targets but has officially lowered its total reported upstream production forecast for the full year."We continue to closely monitor the situation," the company stated, noting that the full impact on its customers and products businesses will depend on how long these market disruptions persist.

Commodities11d ago

NWS Warns of Floods in Central Zones, Thunderstorms, Tornadoes

The US National Weather Service warned on Tuesday of severe thunderstorms in the Middle Mississippi Valley that will lead to damaging winds, large hail and tornadoes while low humidity and wind will sustain critical fire weather conditions in the southern High Plains.The NWS issued a red flag warning on Tuesday for western Texas and eastern New Mexico. Affected areas are Alpine, Fort Davis, Van Horn, Pine Springs, Carlsbad, Artesia, Alamogordo, Cloudcroft, Roswell, Ruidoso, Hobbs, Seminole, Lubbock, Post, Portales, Clovis, Santa Rosa, Tucumcari, Las Vegas, Roy, Clayton, Haton, Tartum, Lamesa, Big Spring, Friona, Dimmitt, Tulia, Silverton, Muleshoe, Olton, Plainview, Floydada, Littlefield, Morton, Levelland, Lubbock, Ralls, Post, Plains, Brownfield, Tahoka and Lake Alan Henry.These areas are supplied with power by Texas New Mexico Power (TXNM), El Paso Electric, and Xcel Energy (XEL).A red flag warning in Colorado related to thunderstorms covered Saguache, South Fork, Alamosa and the western edges of San Luis.These areas are served by Xcel Energy and Black Hills (BKH) unit Black Hills Energy.A freeze warning was issued in Utah, covering Cedar City, Bryce Canyon National Park, Delta, Duchesne, Price, Nepbi, Richfield, Nilford and Brigham City.These areas are provided with electricity by PacifiCorp utility Rocky Mountain Power.It was also in place further north in Idaho, in Burley, Shoshone, Pocatello, Blackfoot, Idaho Falls, Rexburg and Rigby.Further east, there are flood warnings covering parts of multiple states. These areas are provided with electricity by Rocky Mountain Power and Idaho Power.In Missouri, affected areas are Paola, Harrisonville, Warrensburg, Carrollton, Macon, Moberly, Boonville, Jefferson City, St Joseph.These areas are supplied with electricity by Ameren's (AEE) Missouri unit.In Illinois, affected areas are Vincennes, Vandalia, Quincy, Burlington, Havana and Effingham. In Indiana, Muncie came under the same flood warning.The main power supplier here is Ameren's utility in Illinois.In Tennessee, a warning of lightning storms was in place for Tupleo, Oxford, Clarksdale, Memphis, Jackson.The power provider here is Tennessee Valley Authority.

$BKH$TXNM$XEL

Commodities11d ago

Meta Partners With Overview Energy, Noon Energy for 1 GW of Space Solar Power, Storage

Meta Platforms (META) said Monday it has partnered with Overview Energy and Noon Energy to deliver up to 1 gigawatt of space solar energy and long-duration energy storage, to power its artificial intelligence infrastructure and data centers.Overview Energy's solar satellites will harness energy from space and beam it to solar facilities on Earth, "increasing the capacity of existing solar farms by enabling around-the-clock energy production," the company said.By utilizing existing solar and grid infrastructure, electricity from the technology is expected to come online faster at scale, compared with power from traditional buildouts.Meta said commercial delivery could begin as early as 2030, if an orbital demonstration planned for 2028 is successful.Meanwhile, Noon Energy's battery technology will use carbon-based storage, instead of the conventional lithium-ion batteries, to provide up to 1 GW, or 100 gigawatt-hours of ultra-long-duration energy storage capacity.The companies expect an initial 25 megawatt, or 2.5 GWh, pilot demonstration project to be completed by 2028.Meta said it has so far contracted more than 30 GW of clean and renewable energy to support its data center operations. It has partnered with Sage Geosystems and XGS Energy to develop next-generation geothermal energy, and has purchased 7.7 GW of nuclear energy from Vista (VST), TerraPower, Oklo (OKLO), and Constellation Energy (CEG).

$CEG$META$OKLO$VST

Commodities11d ago

NOV Q1 Shows Mixed Results Amid Middle East Disruptions, Backlog Continues to Rise

Leading oilfield equipment and services company NOV (NOV) released its Q1 results on Monday, highlighting several key operational milestones that underscored rising industry activity, even as the Middle East conflict continued to weigh on the sector.The company's energy equipment business reported $1.19 billion in revenue during the quarter, up 4% year-over-year, with an operating profit of $93 million, down 30% year-over-year from $134 million a year ago.This was attributed to an unfavorable sales mix, alongside higher costs resulting from disruptions in the Middle East during the quarter.It, however, saw an uptick in order backlog, at $520 million, an increase of $83 million, compared to a backlog of $437 million last year.Nov's Energy Products and Services business reported $897 million in sales, down 10% year over year, with an operating profit of $26 million, down by $57 million last year, which was the result of lower global drilling activities.Meanwhile, the company secured a contract to deliver 96 kilometers of flexible riser and flowline systems for offshore production, while also expanding its subsea flexible pipe manufacturing facility in Brazil, a move expected to double capacity over the next three years.In offshore infrastructure, Nov was awarded work to supply around 1,700 grating panels covering approximately 10,200 square meters for a floating production unit.The company also pointed to drilling efficiency gains, supporting the completion of a 4-mile lateral well section spanning 20,719 feet in just 143 hours, crediting the performance to its downhole technologies.

$NOV

Commodities11d ago

Chubu Electric Power 2025 Output Down; Middle East Tensions May Impact Energy Demand

Japanese utility Chubu Electric Power Tuesday reported full-year 2025 power generation of 9.2 terawatt-hours, down from 9.7 TWh a year ago.Hydropower output decreased year over year to 8.8 TWh from 9.3 TWh, while other renewable energy production remained flat at 400 gigawatt-hours.The Miraiz segment, pertaining to services delivered with energy, sold 109.0 TWh of electricity during the year, an increase from 107.9 TWh in 2024. However, operating revenue was down 3.5% to 2.859 trillion Japanese yen ($17.92 billion) due to a decrease in fuel cost adjustment charge, according to the company.The power grid segment delivered 123.9 TWh of energy demand in Chubu region in 2025, a decline from 124.5 TWh a year earlier. Corresponding operating revenue also dropped 3.6% to 928.63 billion yen."At this point, the impact on electricity demand in the Chubu area is limited. However, if tensions in the Middle East worsen and become prolonged, electricity demand in the Chubu area could be affected due to concerns over the supply of crude oil and other energy sources," the company said.The utility did not publish business forecasts for the fiscal year ending March 31, 2027, due to uncertainties surrounding fuel prices and wholesale electricity market prices.

Commodities11d ago

Asia Biofuels Update: Malaysian Palm Oil Eases Further on Weaker Supply, Demand Fundamentals

Weaker supply and demand fundamentals pressured Malaysian palm oil on Tuesday, with futures slipping for a second straight session despite rising crude oil prices.The Bursa Malaysia Derivatives' May crude palm oil contract dropped 0.07% to 4,462 Malaysian ringgit ($1,129.33) per metric ton. The June contract eased 0.11% to 4,500 ringgit/mt in midday trade.Cargo surveyors reportedly estimated Malaysian palm oil shipments for the first 25 days of April to have declined between 15.7% and 16.8% from a month earlier. This followed a robust export demand in Q1, which posted a 29.1% year-over-year rise, according to the Malaysian Palm Oil Council.Improving production outlook following a seasonal low also weighed on sentiment.Nonetheless, Indonesia's plan to raise palm-oil based biodiesel blending to 50% from the current 40% will serve as a tailwind, as it will boost domestic consumption and reduce exportable supplies.However, sources cited by The Edge Malaysia said the target roll out of B50 by July faces challenges, including the war-driven shortage in methanol used in biodiesel production, and the high stocks of unsold byproducts in storage tanks.The higher biodiesel program, once implemented, could absorb an additional 3 million metric tons per year of palm oil, according to the MPOC.In terms of production, the US Department of Agriculture said in its annual oilseeds report that Indonesia's palm oil output may reach 48 million metric tons in the 2026/27 marketing year, a 3% increase from the previous year's 46.7 mmt.The government's move to seize illegal plantations and a possible drought related to the El Nino weather phenomenon pose supply risks."The probability of El Nino developing later in 2026 has risen significantly," Kpler said, with 93% chance of the weather phenomenon emerging in Q4, compared with 20% in Q2."Furthermore, the strength of the climate phenomenon could intensify, potentially increasing the likelihood of its weather and climatic influence," Kpler said.For this week, palm oil prices are expected to remain rangebound "with a slightly bearish bias" due to weak export demand and expectations of higher near-term supply, according to Phillip Capital."However, support may come from firmer crude oil prices and steady energy sector demand, which could help limit further downside," Phillip Capital said.Jim Teh, senior palm oil trader at Interband Group of Co., as cited by Bernama, projects palm oil prices to range from 4,200 ringgit/mt to 4,300 ringgit/mt this week due to profit taking, while the MPOC expects prices to approach 4,500 ringgit/mt in the near term.

Commodities11d ago

US Gas Producer EQT Structurally Well-Placed to Benefit From Energy Market Crisis, RBC Says

Appalachian-focused US oil and gas producer EQT (EQT) is strategically growing its midstream capacity for 2027 and beyond and looks well-placed to benefit from market shifts amid conflict in the Middle East that has upended energy markets, RBC Capital Markets said in a research note on Sunday.RBC analysts said that although current projects total 2-3 billion cubic feet equivalent per day, management expects discussions with counterparties to lead to a production hike to between 8 and 10 billion cubic feet per day.Critically, RBC notes that EQT was an early mover versus peers to secure LNG offtake that can now deliver major value in the context of the Iran conflict.The company outperformed in Q1 leveraging the advantages of its integrated business model.Production in the first quarter was above guidance, coinciding with a peak in winter pricing, with operating expenses and capital outgoings below guidance.EQT has shown that it has an ability to identify problems across the midstream quickly, enabling its commercial team to arbitrage pricing.The company's LNG offtake strategy unsettled some investors when it was announced last year, amid fears of a gas flut, but that has become irrelevant due to conflict in the Middle East. Its offtake contracts start in 2030 and destination contracts likely come close to that timeframe, RBC said.RBC has a 'sector perform' rating on EQT and a price target of $69 versus a recent share price around $58.91.

$EQT

Commodities11d ago

Ddev Plastiks Begins Commercial Operations of New Manufacturing Unit in Rajasthan, India

Ddev Plastiks Industries (NSE:DDEVPLSTIK, BOM:543547) has begun commercial operations of its XLPE and allied products manufacturing unit at Bhiwandi in Rajasthan, India, according to a filing to the Indian stock exchanges on Tuesday.The operations of this unit is expected to enhance the production capacity of the company's niche product, XLPE, also known as cross-linked polyethylene.The new unit has been set up with an investment of 800 million Indian rupees with a capacity of around 48,000 MTPA. It is expected to generate an additional revenue of around 5 billion rupees, subject to favorable market conditions and optimal capacity utilization.The company's shares were up nearly 2% in recent trade.

$BOM:543547$NSE:DDEVPLSTIK

Commodities12d ago

US Natural Gas Update: Futures Rise on Cooler Weather Outlook

US natural gas futures climbed in after-hours trading on Monday as a cooler weather outlook and easing supply conditions triggered some short covering.The front-month Henry Hub contract and the continuous contract both rose 0.75% to $2.542 per million British thermal units.Prices briefly touched an intraday high of around $2.63/MMBtu in earlier trade."Nat-gas prices settled higher on Monday as short covering emerged amid colder US weather forecasts, potentially boosting nat-gas heating demand," Barchart said.Weather-driven demand shifts were a key driver. NatGasWeather.com said models have moved cooler versus last week, adding more heating demand days while reducing cooling demand. The forecaster said the change leaves the outlook less bearish and closer to neutral or slightly bullish.On the demand side, residential and commercial consumption increased sharply to 15.2 billion cubic feet per day from 12.5 Bcf/d as cooler temperatures boosted heating needs. Power burn remained steady at 32.5 Bcf/d and is projected to average 30.3 Bcf/d for the week, up from 29 Bcf/d last week, Gelber & Associates said.Total US natural gas production was flat last week, averaging around 106.5 Bcf/d, NRG Energy said. Trading Economics said output fell by around 4.1 Bcf/d over the past 18 days to an 11-week low of 108.1 Bcf/d, as major producers such as EQT scaled back output in response to low prices.Both NRG Energy and Gelber said Canadian imports fell to 4.7-4.8 Bcf/d from 5.5 Bcf/d.On the export side, Barchart, citing BNEF data, said LNG flows were 19.5 Bcf/d, down 2.1% from last week's robust levels. Trading Economics put the April average feedgas flow at 18.9 Bcf/d so far and noted it was near record highs."Today saw cooler forecast revisions, softer production, and steady LNG demand, which offers limited support for prices. That said, overall fundamental balances are not tight enough to fully change the story," Gelber said Monday.

Commodities12d ago

US LNG Capacity Set to Top 30 Bcf/d by 2030 as Expansion Wave Accelerates

The US is poised to significantly expand its dominance in the global energy market as a massive wave of new liquefaction capacity is scheduled to come online through 2031, according to ananalysis, based on US Energy Information Administration data.US export facilities are currently operating at near-peak levels, with actual exports averaging around 18 billion cubic feet per day in March 2026. This exceeds the nominal baseload capacity of roughly 15.4 Bcf/d, as terminals often run above nameplate levels.In the remainder of 2026, the industry expects to add about 2 Bcf/d of new capacity, led by QatarEnergy and Exxon Mobil (XOM) as they ramp up the first two trains at Golden Pass, which will contribute nearly 1.4 Bcf/d.Cheniere Energy (LNG) is also completing the final units at its Corpus Christi Stage 3 expansion, adding 0.6 Bcf/d. These additions are projected to bring total US nominal capacity to around 17.5 Bcf/d by year-end.The expansion accelerates in 2027, with approximately 5.4 Bcf/d of new capacity scheduled to enter service. This includes the third train at Golden Pass, adding 0.7 Bcf/d, and Venture Global (VG) commissioning Plaquemines Phase 2 in Louisiana, contributing 1.1 Bcf/d.Later in the year, two major greenfield projects are set to come online: Sempra (SRE) bringing Port Arthur Phase 1 online at 1.6 Bcf/d and NextDecade starting up the Rio Grande facility with 1.4 Bcf/d.Additional permitted increases at Plaquemines LNG and Elba Island LNG total 0.6 Bcf/d. These developments are expected to lift US capacity to about 22.9 Bcf/d by the end of 2027.Momentum carries into 2028, with an additional 2 Bcf/d of capacity additions. NextDecade is expected to complete additional units at Rio Grande, adding 0.7 Bcf/d, while Venture Global's CP2 LNG Phase 1 is slated to contribute 1.3 Bcf/d. These projects are projected to raise total US export capacity to approximately 24.9 Bcf/d by year-end.The current construction cycle is expected to culminate between 2029 and 2031, followed by another wave of expansions.Woodside Energy (WDS) is expected to add 2.2 Bcf/d from its Louisiana LNG project, alongside further expansions including Port Arthur Phase 2 at 1.6 Bcf/d, Rio Grande at 1.4 Bcf/d, and additional Venture Global capacity of 0.6 Bcf/d.Upon completion, total US LNG export capacity is forecast to exceed 30 Bcf/d, solidifying the US role as the world's leading LNG supplier.

$LNG$NEXT$SRE$VG$WDS$XOM

Commodities12d ago

Canadian Energy Infrastructure Poised for Upside as Commodity Prices Surge, RBC Says

Canadian energy infrastructure companies could see stronger growth prospects as elevated commodity prices create new project and contracting opportunities, RBC Capital Markets analysts said in a note on Monday.The firm said that while many companies already entered 2026 with accelerating growth profiles, the current pricing environment, driven in part by geopolitical tensions, may unlock additional upside. Investors are expected to focus heavily on upcoming earnings calls for signals that companies can translate higher prices into tangible, long-term projects and contracts.'Ultimately, we believe the market will attach the greatest value to companies that have highly visible projects and/or contracts that can capture the benefits of the high commodity price environment," RBC analysts wrote. They added that further clarity may emerge around opportunities tied to LPG, LNG, and oil infrastructure.The recent increase in commodity prices and spreads is expected to drive upward revisions to earnings estimates, particularly in marketing-related segments. Wider frac spreads, blending margins, crack spreads, and regional price dislocations are all contributing factors.Although some of these margin gains may prove temporary, linked to geopolitical disruptions such as the conflict in the Middle East, RBC emphasized that the near-term impact should still be meaningful. Higher cash flow generation could allow companies to reinvest in growth initiatives, supporting longer-term expansion.For utilities, however, the outlook is more nuanced. Inflationary pressures tied to global events are intensifying concerns around affordability and increasing regulatory scrutiny. Investors are expected to seek reassurance that utilities can manage rate increases without undermining balance sheets or limiting growth in their rate base.After a relatively soft start to the year, first-quarter 2026 results are now expected to exceed earlier forecasts. RBC attributed this shift to the Middle East conflict, which widened spreads correlated with crude oil prices, particularly in March, and to a polar vortex across central and eastern North America in January and February, which drove higher, more volatile natural gas prices while boosting demand for pipeline capacity.Together, these factors are expected to benefit marketing-focused businesses across the sector, even though some spreads remain lower year over year.

Commodities12d ago

OFS Stocks Jump 12.7% as US Rig Count Shows Mixed Weekly Trends, RBC Says

The US land rig count rose by 2 rigs over the week to 531, with oil rigs falling and gas rigs increasing, RBC Capital Markets said in a Sunday note.Baker Hughes data shows oil rigs dropped by 2 rigs over the week to 395, while gas rigs increased by 4 to 129, reflecting mixed drilling trends, the note said.The total rig count remains 72 rigs, or 12%, below the five-year average, according to the note.Permian activity held steady at 242 rigs over the week, accounting for 61% of oil rigs in the Lower 48 and 46% of total land rigs, the note added.Helmerich & Payne leads Permian drilling with 88 rigs, followed by Patterson-UTI with 32 and Nabors with 28, RBC said.Exxon leads Permian operators with 34 rigs, followed by Occidental at 20 and ConocoPhillips at 17, while private operators account for 39% of active rigs in the basin, the note added.Eagle Ford activity remained flat at 42 rigs, with Helmerich & Payne leading at 16 rigs, followed by Nabors at 10 and Patterson-UTI at 6, the note said.ConocoPhillips leads Eagle Ford operators with 7 rigs, followed by EOG at 6 and Crescent Energy at 4, while private operators account for 37% of active rigs in the basin, RBC added.Williston drilling activity held steady at 28 rigs over the week, with Nabors leading at 12 rigs, followed by Patterson-UTI at 6 and Helmerich & Payne at 4, the note said.Chevron and Chord Energy lead operators with 4 rigs each, followed by ConocoPhillips at 3, while public operators account for 48% of rigs, up from 38% a year earlier, RBC said.Haynesville activity increased by 1 rig over the week to 56, with Helmerich & Payne leading at 11 rigs, followed by Independence Contract Drilling at 9 and Precision Drilling at 8.Apex leads operators with 12 rigs, followed by Comstock at 5 and Exco at 4, while private operators account for 72% of rigs, compared with 73% a year earlier, RBC addedAppalachia drilling activity held steady at 37 rigs over the week, with Patterson-UTI leading at 15 rigs, followed by Precision Drilling at 9 and Helmerich & Payne at 5, the note said.EQT leads operators with 5 rigs, followed by Ascent Energy at 4 and EOG at 3, while private operators account for 41% of rigs, down from 47% a year earlier.The US frac fleet count rose by 4 over the week to 169, with a rig-to-frac ratio of 2.86 times, according to the note.OFS stocks under coverage rose 12.7% over the week, led by Liberty Energy with a 24.5% gain, followed by Atlas Energy Solutions at 22.7% and Patterson-UTI Energy at 20.3%, it said.SLB posted the weakest gain at 6.6%, followed by Calfrac Well Services at 7.0% and NOV at 7.3%, while the group is up 47.7% year to date versus 5.1% for the S&P 500, it said.

Commodities12d ago

Baker Hughes Beats Q1 Profit Targets as Gas Tech Demand Surges, RBC Says

Baker Hughes Company (BKR) reported stronger-than-expected first-quarter earnings, driven by robust demand in its Industrial & Energy Technology and gas-processing equipment segment, RBC Capital Markets strategists said in a note Friday.The oilfield services firm posted adjusted EBITDA of $1.16 billion for the quarter, up 12% from a year earlier and slightly above the top end of its guidance range of $980 million to $1.14 billion.RBC analysts said growth was buoyed by the IET division, which delivered EBITDA of $678 million, beating the company's forecast range of $600 million to $650 million.Margins in the segment rose to 20.2%, up 310 basis points year-on-year, supported by stronger pricing on backlog conversion and improved project execution.Orders in the IET segment remained a bright spot, with bookings totaling $4.9 billion in the quarter, resulting in a book-to-bill ratio of 1.5.Baker Hughes signaled increasing confidence in the duration and quality of its order book, pointing to potential upside to its full-year revenue midpoint guidance of $14.5 billion and its longer-term target of more than $40 billion.RBC analysts said that the strength in orders and backlog supports a more constructive medium-term outlook, raising their 2027 EBITDA estimate by 3%.Baker Hughes maintained its Q2 EBITDA guidance at about $1.13 billion and left its full-year 2026 outlook unchanged, though it expects results to come in below the midpoint of $4.85 billion.The guidance assumes ongoing disruption in the Middle East through June, with operations in the Strait of Hormuz returning to normal in H2 2026.RBC analysts said Baker Hughes remains well-positioned to benefit from both traditional energy investment cycles and the growing push toward new energy technologies, particularly as supply risks in key regions underscore the need for redundancy and diversification.RBC maintained an "outperform" rating on the stock and raised its price target to $71 from $68, based on a 12.5 times multiple of its revised 2027 EBITDA forecast.

$BKR

Commodities12d ago

US Oil Output Could Grow Up to 1 Million Barrels per Day, Macquarie Says

US shale producers face strong economics with breakevens near $43 per barrel and WTI around $70/bbl, supporting moderate growth despite war-driven volatility, Macquarie said Friday.WTI for calendar 2027 has climbed into the low $70s per barrel from the low $60s before the conflict, while US exploration and production budgets point to breakevens near $43 per barrel, Macquarie said.Higher prices are improving returns, prompting smaller producers to consider incremental activity while larger firms maintain capital discipline, Macquarie added.Even with limited reinvestment, current pricing could drive a step-up in 2026 output growth among larger companies.Geopolitical risks are supporting longer-dated oil prices and shaping company strategies, following a shift from earlier bearish shocks to more recent bullish disruptions, Macquarie said.Macquarie estimates 2026 breakevens at about $43.40/bbl across a group producing roughly 5.8 million barrels per day, down from about $44.50/bbl in 2025 and $46/bbl in 2024.The Russia-Ukraine war lifted US liquids output by about 2.4 million b/d by year-end 2023 compared with 2021, highlighting shale responsiveness, the research firm added.US production rose about 0.8 million b/d in 2025 despite average prices near $65/bbl, and could reach 0.7 million b/d to 1 million b/d growth annually at $70-plus per bbl prices, Macquarie said.Weekly oil balances show implied US supply near 13.6 million b/d, reflecting strong output following recovery from earlier disruptions.Producers may need to add about 20 to 40 rigs to shift production trends, though companies have only signaled early gains in completion activity so far, Macquarie added.Efficiency gains continue to lower costs in the Permian Basin, particularly in Texas, helping offset weaker price environments and supporting output, the firm added.Permian output growth slowed to about 300,000 b/d in 2025 from about 370,000 b/d in 2024 but remains strong, with acceleration possible by late 2026 or early 2027, Macquarie noted.Labor activity in the Permian has remained elevated and broadly flat year over year, indicating stable operational capacity.Survey data from the Dallas Federal Reserve shows 35% of producers expect less than 90% of shut-in Gulf supply to return, while 86% see future Hormuz disruptions as likely, the firm noted.About 40% of producers do not expect Hormuz flows to normalize by August, reflecting ongoing uncertainty around global supply routes, Macquarie added.Companies are increasing hiring plans, signaling early-stage growth momentum as improved efficiency and higher prices support a cautiously optimistic outlook, the firm added.

Commodities12d ago

Mermaid Maritime Forms Brunei JV in Offshore Services Push

Mermaid Maritime said on Monday it had established a joint venture in Brunei to expand its offshore services footprint in the energy sector.The venture, known as Serikandi Mermaid, has an issued and paid-up capital of $400,000 and will be jointly owned by Mermaid Subsea Services and Serikandi Oilfield Services of Brunei.The new entity will focus on offshore transportation and installation, inspection, repair and maintenance, and decommissioning activities, as well as pipeline projects in Brunei's offshore energy sector.Mermaid said the investment will be funded from internal resources and is not expected to have a material impact on the company's net tangible assets or earnings per share for the current financial year.

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Commodities11d ago