Monday, March 17, 2014
Crystal Flash (Grand Rapids, Mich.) has acquired Owens Petroleum Inc. and Owens Propane Service Inc. of Albion, Mich. The transaction will add two new locations, including two Pacific Pride fuel stations, to the Crystal Flash energy distribution company. Joe Owens launched the business as a Standard Oil agent in 1968, later incorporating to become Owens-Raymond Oil Co. He changed the name to Owens Petroleum in the 1980s, and ran the company until he sold it to his daughter, Shelley Purucker, and her husband, Randy, in 1994.
Monday, March 17, 2014
More precipitous declines were seen for principal postings Thursday, which doubled down on the double-digit freefalls of early in the week to give up another 17 to as much as 42 cents compared to the Monday email Update. The deep discounts prompted all but one seller to resume providing postings for publication, however, Plains Marketing’s U.S. prices were still not available (NA).
Monday, March 17, 2014
Blossman Services Inc.’s (BSI; Ocean Springs, Miss.) small engine division is designing and manufacturing an engine-specific propane mower conversion kit that will meet Environmental Protection Agency certification standards. Available for purchase this spring, the Blossman conversion kit is aimed at providing cost savings and a high-quality conversion kit to landscape contractors and the mowing industry.
Wednesday, February 12, 2014
…The average U.S. residential propane price jumped 105.00 cents/gal. the week ended Jan. 27 to 401.00 cents, nearly 172.00 cents/gal. higher than the same time last year, notes the Energy Information Administration (EIA). The jump was the largest single-week increase since EIA began the price survey in 1990. Ten Midwest states had price increases of 97.00 cents or more. Wholesale prices increased 143.00 cents/gal. to nearly 355.00 cents…
Wednesday, February 12, 2014
With the conclusion of the National Propane Gas Association (NPGA) winter board of directors meeting Feb. 4, NPGA president and CEO Rick Roldan outlined a short- and long-term strategy aimed at preventing a repeat of the current supply, demand, and distribution nightmares.
Wednesday, February 12, 2014
Amid a positive outlook for the energy industry in 2014, senior oil and gas professionals are forecasting tighter monitoring of capital expenditures this year, according to research published by Norway’s DNV GL, a technical advisor to the oil and gas industry.
Wednesday, February 12, 2014
Engineered Controls International LLC (ECI; Elon, N.C.) said Feb. 1 it had acquired Superior Holdings LLC, owner of Macro Technologies LLC and Superior Products LLC. ECI noted that the acquisition adds to its expanding portfolio of companies representing brands of gas flow and control products. Those brands now include RegO Products, Goddard Valve, Superior Products, and Macro Technologies.
Wednesday, February 12, 2014
With a more restrained winter draw of 0.8 MMbbl reported for the nation by the Energy Information Administration the last week of January, and an actual build of that same amount in the Midwest, fears seemed to have been calmed somewhat of the calamity of draining the Heartland dry before the end of the heating season. Once again the markets reacted immediately and decisively and spot propane at Conway, Kan.
Wednesday, February 12, 2014
The U.S. Department of Health and Human Services’ (HHS) Administration for Children and Families is making available $454 million in support of the Low Income Home Energy Assistance Program (LIHEAP). In November, HHS released $2.9 billion in LIHEAP funding while awaiting action on final fiscal year 2014 appropriations.
Wednesday, February 12, 2014
U.S. propane stocks fell by 0.8 MMbbl the week ended Jan. 31 to stand at 30.8 MMbbl, 24 MMbbl, or 43.8%, below year-ago levels, according to the Energy Information Administration (EIA) in its Feb. 5 “This Week in Petroleum” report. Gulf Coast volumes decreased by 1 MMbbl, while conversely Midwest supplies climbed by 0.8 MMbbl. East Coast inventories gave up 0.5 MMbbl, and stocks in the Rocky Mountain/West Coast region dipped by 0.2 MMbbl.
Wednesday, February 12, 2014
The Energy Information Administration’s (EIA) “2014 Annual Energy Outlook” projects declines in U.S. oil and natural gas imports as a result of increasing domestic production from tight oil and shale plays. U.S. liquid fuels net imports as a share of consumption is projected to decline from a high of 60% in 2005 and about 40% in 2012 to about 25% by 2016. The U.S. is also forecast to become a net exporter of natural gas by 2018.
Wednesday, February 12, 2014
A new study by the Bureau of Economic Geology (BEG) at the University of Texas at Austin forecasts that one of the nation’s most productive shale gas basins, the Fayetteville Shale, will continue to be a major contributor to U.S. natural gas supplies for years to come, with economically recoverable reserves of 18 Tcf through 2050.
Wednesday, February 12, 2014
Railroad Commission of Texas (RRC) commissioner David Porter Feb. 5 testified before Congress on what he termed is the “egregious overreach” of the federal government, specifically the U.S. Environmental Protection Agency (EPA). The House Committee on Science, Space, and Technology held a hearing titled “Examining the Science of EPA Overreach: A Case Study in Texas.”
Wednesday, February 12, 2014
Significant swings higher on the Dixie Pipeline and steep discounts in the Midwest were seen Thursday compared to postings provided for the Monday email Update. And while changes up or down on TEPPCO and at Mont Belvieu were appreciably more moderate, in any other market they would raise eyebrows, not prompt a yawn.
Wednesday, February 12, 2014
Kinder Morgan (Houston), owner and operator of the Cochin pipeline system, is advising third-party shippers that contrary to some erroneous reports, the line is fully operational and capable of operating at 50,000 bbld. In addition, gallons received into the pipeline from third-party storage facilities in Fort Saskatchewan, Alberta, and Regina, Saskatchewan can be delivered immediately to U.S. terminals.
Wednesday, February 12, 2014
Canyon Midstream Partners LLC (Houston) has commenced development of a natural gas gathering, processing, and treating system in the Permian Basin—the James Lake System—that is anchored by a 10-year gathering agreement with an unnamed major oil and gas company.
Wednesday, February 12, 2014
Blue Racer Midstream LLC (Dallas) has entered into long-term agreements with several Utica Shale natural gas producers to provide integrated midstream services for production in liquids-rich acreage in Monroe, Noble, Guernsey, Belmont, Harrison, and Carroll counties in Ohio. Producers that have made recent dedications to Blue Racer include Eclipse Resources, Hess Corp., CONSOL Energy Inc., and PDC Energy Inc.
Sunday, January 26, 2014
…Congress did not extend past 2013 two expiring tax provisions that impact the propane industry— the 50-cents per gallon alternative fuel credit and the alternative fuel refueling property credit. The National Propane Gas Association reports that as of Jan. 1, 2014, the credits are no longer available for propane, natural gas, and other alternative vehicle fuels…
Sunday, January 26, 2014
The National Propane Gas Association (NPGA) this month was stepping up efforts to identify and implement measures and policies to expedite propane shipments as much of the nation continues to struggle under a scenario of crimped supplies, transportation constraints, and spiraling prices.
Sunday, January 26, 2014
Athough residential business has declined for the propane industry over the past several years, the residential market still represents more than 47% of all propane gallons sold, according to the Propane Education & Research Council (PERC). While the residential market will continue to represent the largest profit center for propane marketers, the industry must work to increase that business.
Sunday, January 26, 2014
With the outlook for revenues from the North Sea having been slashed, firms drilling for shale gas in the UK will get a massive tax break in an effort to boost exploration. In March 2013, the UK government forecast that £6.8 billion ($11.15 billion U.S.) would roll into Treasury coffers from North Sea levies, but that amount has since been cut back to £5 billion ($8.2 billion U.S.), and expectations downgraded for every year until 2018.
Sunday, January 26, 2014
Exports of propane from the U.S. dipped 2.7% in November compared to a month earlier, but still came in at a strong 12,307,471 bbl, off 335,090 bbl from October levels, according to the U.S. Department of Commerce (DOC). At the same time, compared to November 2012, propane exports soared 76.1%, or by 5,316,773 bbl.
From Our Partners
How One-Tank's innovative approach to inventory management is transforming distribution & growth
Trending
Discover why autogas stands out as the prime alternative fuel for fleets — from growing infrastructure & cost-effectiveness to the ease of refueling
Leveraging a forward-resolve approach for better propane customer service
Streamlining workflows & enhancing decision-making through data consolidation & software integration