Canada's primary underground propane inventories decreased by 9.39% in January, according to the Canada Energy Regulator (CER). The total represented a month-to-month decrease of 158 Mcm. Compared to a year earlier, stocks were lower, with 3 Mcm, or 0.20%, less product on hand.
During the latest mid-month period, prices at Mont Belvieu, Texas, increased as we hit the mid-winter. The posted prices increased 9 cents/gal, from December mid-month to January mid-month while the spot prices increased 14 cents. Conway, Kan., postings ended with a 5.5-cent increase and spots increased 8.5 cents over the month.
Canton, Mass. (Jan.
(MIDDLETOWN, Pa) — The Pennsylvania Petroleum Association (PPA) announced the hiring of Don Mumma as the association’s new director of training and workforce development. The PPA is a not-for-profit trade association representing 400+ energy stakeholders.
NEW MILFORD, Conn. (Jan. 5, 2023) — Cetane Associates LLC has announced that Duncan McMurchie has joined its financial advisory firm as an associate, effective Jan. 1, 2023. McMurchie provides analytical support to the firm’s M&A deal execution team.
NATIONAL — The United States Energy Information Administration (EIA) expects global consumption of liquid fuels, such as gasoline, diesel and jet fuel, to set new record highs in 2024.
According to EIA’s January "Short-Term Energy Outlook" (STEO), global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024.
NATIONAL (Jan. 6, 2023) — Quality Steel Corporation has announced that Lynn Hardin, former vice president, sales and marketing, has been promoted to president.
Hardin will continue to manage the LP gas storage solutions business unit going forward. In his new position, Hardin will be responsible for development, implementation and leadership of strategic initiatives across Quality Steel Corporation.
HOUSTON (Jan. 3, 2023) — Targa Resources Corp. announced a definitive agreement to acquire Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix NGL Pipeline for $1.05 billion in cash plus customary working capital adjustments. Targa will own 100% of Grand Prix upon closing.
TORONTO — Superior Plus Corp. is saddened to announce the passing of board member Richard Bradeen.
“On behalf of Superior’s board of directors and employees, we extend our heartfelt condolences to Richard’s family and friends,” said Chairman David Smith. “Richard brought a wealth of experience, wisdom and insight to Superior gained through his distinguished career. Richard will be greatly missed by all that knew him.”
WOODSIDE, N.Y. (Jan. 4, 2023) — Marathon Energy announced it is changing its company name to Energo and unveiled a new logo. This change is in response to its accelerated growth, and only impacts the company name and logo. There is no change in ownership and in no way impacts or changes customer accounts.
Cleveland, Miss. (Jan. 4, 2023) — LT Corporation of Cleveland, Mississippi, the parent company of Quality Steel Corporation, LP Cylinder Service Inc., and Buckeye Manufacturing Company — all industry leading manufacturers or providers of value-added services to their customers — announced the stock acquisition of Kryton Engineered Metals Inc.
Chicago, Illinois-based Energy Distribution Partners (EDP) announced that Andy Fellman has been named region vice president for the company’s Northwest region. Fellman brings nearly 30 years of propane industry experience to his current role with EDP.
Morris, Minn. — Westmor Industries LLC announced their acquisition of Metzler Bros, Tank, Truck and Trailer.
Harris, New York (Dec. 19, 2022) — Blue Peak Resources has announced the sale of Rez Bear Propane of Harris, New York, to Ferrellgas, a nationwide propane retailer headquartered in Liberty, Missouri.
Robin Kinnaman, sales director at Manchester Tank, passed away on Dec. 19, 2022. Kinnaman represented Manchester Tank for many years as a sales director, covered many of our product lines, attended industry meetings and trade shows for the propane industry on behalf of the company. He will be greatly missed.
WHIPPANY, N.J., (Dec. 28, 2022) — Suburban Propane Partners L.P. announced that its wholly-owned subsidiary, Suburban Renewable Energy LLC, reached an agreement to acquire a platform of renewable natural gas (RNG) assets from Equilibrium Capital Group.
DOVER, Del. (Dec. 16, 2022) — Chesapeake Utilities Corporation announced that its subsidiary, Florida Public Utilities (FPU), has acquired the propane operating assets of Hernando Gas, based in Hernando, Florida. Through this acquisition, the company expands its operating footprint further into Florida, where customers will be served by FPU.
Nearly one-third of the energy consumed in commercial buildings in 2018 was used for space heating. Commercial buildings consumed 6.8 quadrillion British thermal units (quads) of energy in total, and 2.2 quads were used for space heating. Space heating was the main end use for all fuels except electricity, making up at least two-thirds of end-use consumption for natural gas, fuel oil and district heat, but only 6% of electricity consumption.
Rye Brook, NY (Dec. 22, 2022) — Rye Brook, New York-based propane company Paraco Gas has acquired Chickos Energy Services, headquartered in Milford, Connecticut. The acquisition expands Paraco’s new HVAC division into Connecticut.
BROOKNEAL, Va. — Family-owned wholesale fuel distributor and emergency fuel management company Foster Fuels Inc. purchased fuel provider Candler Oil Company based in Lynchburg, Virginia.
During the latest mid-month period, prices at Mont Belvieu decreased as we head into winter. The posted prices decreased 16.583 cents/gal, from November mid-month to December mid-month while the spot prices decreased 17.375 cents. Conway, Kan., postings ended with a 15.3-cent decrease and spots decreased 14.5 cents over the month.
VANCOUVER, British Columbia (Dec. 07, 2022) — Westport Fuel Systems Inc. announced that it has been awarded a program to develop and supply liquefied petroleum gas (LPG) systems to a global original equipment manufacturer (OEM) to accommodate a number of its Euro 7 vehicle platforms. The deal is forecasted to generate €40 million in annual revenue with production expected to begin in Q1 2025.
