Monday, September 29, 2014
Estimated shale oil and shale gas resources in the U.S. and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of global natural gas technically recoverable resources—those that can be produced using current technology without reference to economic profitability—according to a study sponsored by the Energy Information Administration (EIA).
Friday, September 19, 2014
The period from mid-August to mid-September saw prices begin to recoup a bit after their summer roller coaster ride. During the latest period, Group 140 retreated below Mont Belvieu as the Texas basing point recaptured its premium over the Midwestern hub. As dealers and customers alike prepare for the autumn and winter season, the markets are taking on a new sense of urgency. How supply and prices will play out this year is anyone’s guess.
Friday, September 19, 2014
U.S. propane stocks the week ended Sept.12 climbed to 77.4 MMbbl, adding 1.4 MMbbl week over week to stand 13 MMbbl, or 20.2%, higher than a year ago, according to the Energy Information Administration (EIA) in its Sept. 17 “This Week in Petroleum” report. Midwest volumes increased by 1.1 MMbbl, and Gulf Coast supplies rose 0.3 MMbbl. The Rocky Mountain/West Coast region gained 0.1 MMbbl, while the East Coast declined by 0.1 MMbbl. Propylene non-fuel-use inventories represented 4.3% of total stocks, off from 4.7% the previous week.
Friday, September 19, 2014
The “hidden gas tax” scheduled to hit California drivers on Jan. 1, 2015 will result in a net reduction of nearly $3 billion in economic output and 18,000 jobs in the first year alone, according to analysis released Sept. 16 by the California Drivers Alliance (CDA). The study, conducted by Justin L. Adams of Encina Advisors, maintains there is also a nearly one-in-five chance that allowance prices in California’s cap-and-trade system could be 300% higher than expected, meaning economic losses could skyrocket to $10.8 billion and 66,000 jobs in 2015.
Friday, September 19, 2014
Spot propane at Mont Belvieu and Conway, Kan. retreated Thursday from mid-week highs that saw Belvieu soar to the 110.00-111.000 cents/gal. range and Conway jump to 109.25-110.00 cents and higher. Thursday saw prices at the Texas trading hub decline 1.5 cents compared to the Monday email Update, while Midwest spots were off a sharper 3.375 cents for the week, losses that don’t reflect a steeper plunge from the middle of the week.
Friday, September 19, 2014
Enable Midstream Partners LP (Oklahoma City) said Sept. 3 its board of directors had approved construction of an additional 200-MMcfd of natural gas processing capacity near the partnership’s Bradley Processing Plant to serve producers in the South Central Oklahoma Oil Province (SCOOP) rich-gas play. The Bradley Plant, located in Grady County in central Oklahoma, is currently under construction to provide 200 MMcfd of processing capacity, and is expected to be in service during the first quarter of 2015.
Friday, September 19, 2014
The Department of Energy (DOE) has issued authorizations to Cameron LNG LLC and Carib Energy LLC to export domestically produced LNG to countries that do not have a free trade agreement with the U.S. The Cameron LNG terminal in Cameron Parish, La. is authorized to export up to 1.7 Bcfd for 20 years. Carib is authorized to export up to 0.04 Bcfd for 20 years from its proposed facility in Martin County, Fla.
Friday, September 19, 2014
Railroad Commission of Texas (RRC) commissioner David Porter has sent a letter to U.S. Secretary of State John Kerry questioning the extent the U.S. Department of State is enforcing sanctions against the financial arm of a Russian oil and gas monopoly, and thereby protecting U.S. interests. A bank affiliated with Gazprom has hired former Senate Majority Leader Trent Lott and former Sen. John Breaux to lobby against U.S. sanctions.
Friday, September 19, 2014
Most principal postings strengthened even further Thursday, rising as little as a quarter cent but as much as 4.5 cents compared to the Monday email Update. However, two Midwest sellers shaved off a half cent and 0.75 cents, respectively. In the West, Los Angeles postings rose 3 cents over the week.
Friday, September 19, 2014
It is good to hear a public dialogue is occurring on the expansion of California’s cap-and-trade system coming Jan. 1, 2015, notes the Western States Petroleum Association (WSPA), when gasoline and diesel used by millions of consumers and businesses will be regulated for the first time under the state’s program. According to economic analysis by the California Air Resources Board (CARB), the expansion of cap-and-trade will increase gasoline prices by as little as 4% and as much as 19%.
Friday, September 19, 2014
Canadian underground propane inventories jumped 21.8% in August to reach 1776.8 Mcm, the equivalent of 11.2 MMbbl, as of Sept. 1, according to the National Energy Board (NEB), which noted that stocks rose 317.8 Mcm month over month. Compared to a year earlier, Canada’s propane volumes stood 25% higher and were up by 355.4 Mcm, the agency reports.
Friday, September 19, 2014
The U.S. Bureau of Land Management (BLM) will resume issuing oil and gas leases on federal lands in California next year after a study found relatively limited environmental impacts from hydraulic fracturing and other well-stimulation drilling techniques. With the release of the California Council on Science and Technology’s (CCST) independent science review, which BLM commissioned in September 2013, CCST will incorporate and expand the analysis and include a review of offshore and gas well stimulation.
Friday, September 19, 2014
The American Petroleum Institute (API) is welcoming final approval by the U.S. Department of Energy (DOE) for exports of LNG from Cameron Parish, La. and Martin County, Fla, and is urging the Obama administration to accelerate the process for other projects.
Monday, September 15, 2014
The Women in Propane Business Council (WIP) will cohost a discussion focused on the role of the World LP Gas Association (WLPGA) in the creation of a global network for women in the propane industry. The roundtable discussion will take place during the 27th World LP gas Forum and 29th AIGLP Congress on Wednesday,
Oct. 29 from 11 a.m. to 12:30 p.m. in Miami.
Oct. 29 from 11 a.m. to 12:30 p.m. in Miami.
Monday, September 15, 2014
The Marcellus Shale Coalition (MSC) has released a new online video highlighting the broad-based benefits being realized across Pennsylvania associated with shale impact fee tax revenues. The video, “Shale Impact Fee Benefits All of Pennsylvania,” features facts, figures, and examples of how the $630 million in impact fee tax revenue is boosting communities across the commonwealth’s 67 counties. The video may be downloaded at www.youtube.com/watch?v=apbzVoc-wcE.
Monday, September 15, 2014
Pembina Pipeline Corp. (Calgary) is acquiring the Vantage pipeline system and Mistral Midstream Inc.’s (Calgary) interest in the Saskatchewan Ethane Extraction Plant (SEEP) for a reported $650 million. The Vantage system, a 435-mile, 40,000-bbld, high-vapor-pressure pipeline originating in Tioga, N.D. and terminating near Empress, Alta., Canada, provides access to the Bakken play for future NGL opportunities.
Monday, September 15, 2014
The North Carolina Clean Energy Technology Center (NCCETC) at North Carolina State University has issued a final request for proposals for more than $1.3 million in federal 2013-2015 funding. The funding is in the form of awards to governments, businesses, and/or nonprofit applicants for transportation technology related to emission-reduction projects. Guidelines and applications are available by clicking on “Incentives & Funding” at www.cleantransportation.org.
Monday, September 15, 2014
…ThompsonGas (Boonsboro, Md.) has acquired Gastonia, N.C.-based Ellco Industries and Little River LP Gas, formerly owned by the Nick Lowie family. The acquisition is the most recent in a series of purchases and marks the first move for ThompsonGas into North Carolina. The former Ellco Industries and Little River LP employees will join ThompsonGas...
Monday, September 15, 2014
Shell Sept. 3 said new discovery wells in the Utica formation in Tioga County, Pa. extend the sweet spot beyond southeast Ohio and western Pennsylvania, where previous discoveries have been located, and into an area where Shell holds a major leasehold position of about 430,000 acres.
Monday, September 15, 2014
The amount of crude oil and refined petroleum products moved by U.S railroads increased 9% during the first seven months of this year compared with the same period in 2013, reports the Energy Information Administration (EIA) citing data provided by the Association of American Railroads (AAR). In July, monthly average carloadings of oil and petroleum products were near 16,000 carloads a week, according to AAR. The increase in oil volumes transported by rail reflects rising U.S.
Monday, September 15, 2014
Kinder Morgan Energy Partners LP (Houston) has launched a binding open season to solicit commitments for its Utica to Ontario Pipeline Access (UTOPIA) project, which will provide opportunities to transport ethane and ethane/propane mixtures from the Utica Shale area.
Monday, September 15, 2014
For the first time since the week ended March 21, U.S. propane inventories registered a decline for the most recent reporting period ended Sept. 5, according to the Energy Information Administration (EIA) in its Sept. 10 “This Week in Petroleum” report. Though minimal, the 0.1-MMbbl dip interrupted a months-long spring/summer build. The current change still found stocks soaring above year-ago levels by 11.5 MMbbl for a 17.9% gain.
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