In this Midweek Intelligence Report, we will take a quick look at some of the critical figures and data in the energy markets this week. We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days.
- U.S. natural gas production soared to a new all-time high in 2018, rising by a massive 10 billion cubic feet per day (Bcf/d), an 11 percent increase from the year before.
- The increase was the largest ever recorded in a single year.
- Natural gas exports jumped to 9.9 Bcf/d, up 14 percent from the year before. That figure includes both pipeline and LNG exports. LNG exports rose by 53 percent to 3 Bcf/d.
Market Movers
- Royal Dutch Shell (NYSE: RDS.A) says that it will decide by 2025 whether or not to move forward with an expansion of its LNG Canada project. The first phase of the $31 billion LNG export terminal was given a green light last year.
- Imperial Oil (TSE: IMO) decided to slow development at its Aspen in situ oil sands project “given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges.”
- Eni (NYSE: E) unveiled a four-year stock buyback program with an initial 400 million euro repurchase this year, plus a 3.6 percent increase in its dividend to 0.86 euros per share in 2019.