(Dec. 6, 2016) Spot propane prices posted significant gains last Thursday after showing little movement earlier in the week. The moves in spot prices followed the rise in oil prices on Wednesday and Thursday, which were the result of news that OPEC had reached an agreement to reduce production by 1.2 MMbbld during its recent meeting in Vienna. Last Thursday, Mont Belvieu non-LST propane mid-morning was trading higher for buyers and for sellers from earlier in the week. Trading in the Group 140 market (Conway) was also up for buyers and sellers. Elsewhere, U.S. and international crude futures were trading above $50/bbl. West Texas Intermediate (WTI) crude oil moved up $1.27, or 2.57%, to rest at $50.71/bbl. Brent crude, the global benchmark, was up $1.41,...

The Propane Education & Research Council’s (PERC) Propane Farm Incentive Program, designed to provide financial incentives to qualifying and selected farmers and agricultural producers to help with the purchase of propane-powered farm equipment in exchange for sharing real-world performance data is set to expire Dec. 31, 2016. The Propane Farm Incentive Program provides financial incentives up to $24,000 to qualifying applicants who purchase select pieces of equipment and agree to share their experiences. Applicants need to act quickly to take advantage of incentives for propane ag equipment before the Dec. 31st deadline, and before significant program changes take effect in 2017. Not only will agricultural producers significantly offset purchase costs for new propane ag equipment, propane also lowers fuel costs, cuts greenhouse gas emissions, and...

The 29th World LPG Forum & 2016 European Congress held at the Firenze Fiera Congress and Exhibition Centre in Florence, Italy, concluded Nov. 17th, 2016. The series of events offered unparalleled networking opportunities, high quality educational and round table sessions and of course, a major global exhibition. The theme of the 2016 event was ‘A Bridge to the Future’ and the focus for discussions was global opportunities for LPG. Key Facts and Figures from the 29th World LPG Forum: The event was attended b approximately 1,800 total participants representing 113 countries, with 120 exhibiting companies in the Exhibition Centre. The Top 5 countries represented were: 1) Italy, 2) France, 3) India, 4) Turkey, and, 5) United States. “A Bridge to the Future” Forum & Congress...

On Nov. 22, 2016, Judge Amos Mazzant, of the U.S. District Court for the Eastern District of Texas, granted a preliminary injunction successfully halting the December 1, 2016 effective date for the Department of Labor’s Overtime Rule nationwide. The preliminary injunction allows the court to stop the enforcement of this rule until there is an opportunity for complete consideration of the case brought by several business group plaintiffs and 21 states.The injunction temporarily delays the effective date until the court reviews the lawsuit and makes a decision. The delay is a procedural measure; it does not suggest that the court will decide against DOL on the regulation. Unfortunately, it is impossible to predict how long the delay will last. At any time the judge could...

WOOD DALE, Ill. (Nov. 21, 2016) — General Motors (GM) has selected Power Solutions International (PSI) (NASDAQ:PSIX) as its alternative-fuel specialty vehicle modifier in North America. The agreement authorizes PSI to perform alternative-fuel conversions, including propane (LPG) autogas, and natural gas (CNG) options, on a range of GM specialty vehicles for fleet, commercial and retail markets. GM vehicles covered by the agreement include Silverado and Sierra 2500HD and 3500HD pickup trucks, Express and Savana passenger vans, cargo vans and commercial cutaway vehicles, and low cab forward 3500HD and 4500HD trucks. PSI plans to begin taking orders before the first of the year 2017. "We're very excited about this latest agreement with GM and the on-road opportunities that it unlocks for us," said Gary Winemaster, PSI's...

NEWTOWN SQUARE, Pa. & DALLAS, Tex. (Nov. 21, 2016) Sunoco Logistics Partners L.P. (SXL) and Energy Transfer Partners, L.P. (ETP) announced that they have entered into a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in the first quarter of 2017, subject to receipt of ETP unitholder approval and other customary closing conditions. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own. This equates to a 10% premium to the volume weighted average pricing of ETP’s common units for the last 30 trading days immediately...

It is with great sadness that Butane-Propane News (BPN) marks the passing of long-time industry leader David Leon Lugar — Oct. 18, 1957 – Nov. 18, 2016 — who has died following a courageous battle with illness. David’s lengthy propane industry career included serving as director, NGL marketing, at Conoco, where he spent 20 years in various positions of increasing responsibility in propane marketing, operations, and supply. Lugar joined AmeriGas in September 2000 as vice president of supply and logistics, working from an office outside of Houston, Texas. David was active in the National Propane Gas Association (NPGA) for many years, including serving as NPGA chairman, 2014-2015. David was a charter member of the Propane Education & Research Council (PERC), established in 1996, and continued...