Propane Industry News

The Baker Hughes United States rig count is down six from last week to 669 with oil rigs down seven to 530, gas rigs down two to 131 and miscellaneous rigs up three to eight.

The U.S. rig count is down 89 rigs from last year's count of 758 with oil rigs down 69, gas rigs down 24 and miscellaneous up four.

The U.S. offshore rig count is unchanged at 18, up two year-over-year.

VANCOUVER (July 19, 2023) — Volvo Group and Westport Fuel Systems Inc., a supplier of advanced alternative fuel delivery systems and components for the global transportation industry, have signed a non-binding letter of intent to establish a joint venture to accelerate the commercialization and global adoption of Westport's HPDI fuel system technology for long-haul and off-road applications.

Ferrellgas Partners L.P. recently celebrated its 25th anniversary of the formation of the company’s employee stock ownership plan (ESOP). The company is a leading propane logistics company, one of the world’s largest propane retailers, and is operating under the Blue Rhino brand, the nation’s leading propane tank exchange provider.

Canada's primary underground propane inventories increased by 46.45% in July, according to the Canada Energy Regulator. The total represented a month-to-month increase of 368 Mcm. Compared to a year earlier, stocks were lower, with 18.8 Mcm, or 1.59%, less product on hand. 

During the latest mid-month period, prices at Mont Belvieu, Texas, increased as we head deeper into summer. The posted prices increased 6.75 cents/gal, from June mid-month to July mid-month, while the spot prices increased 6.5 cents. Conway, Kan., postings ended with a 5.25-cent increase and spots increased 5.5 cents over the month.

The United States Energy Information Administration (EIA) forecasts record-high natural gas consumption in the U.S. for electricity generation in July and August as another hot summer increases demand for air conditioning.

In its July "Short-Term Energy Outlook" (STEO), EIA expects about 4% more U.S. electricity generation from natural gas in July and August 2023 than in the same months of 2022.

The Baker Hughes United States rig count is up six from last week to 680, with oil rigs down five to 540, gas rigs up 11 to 135 and miscellaneous rigs unchanged at five.

The U.S. rig count is down 72 rigs from last year's count of 752, with oil rigs down 57, gas rigs down 18 and miscellaneous up three.

The U.S. offshore rig count is unchanged at 19, up two year over year.

NEW MILFORD, Conn. (July 11, 2023) — Cetane Associates has announced that Dead River Company has acquired full-service home heating Augusta Fuel Company, headquartered in Augusta, Maine. The transaction closed on June 27, 2023.

TIFTON, GA (July 6, 2023) — Conger LP Gas President and CEO Dan Richardson and Lattice Energy Solutions and Ag Solar Solutio

P3 Propane Safety and FuelMor announced that FuelMor propane software has begun the process of integration with the P3 Compliance System.

FuelMor offers an economic, browser-based software as a service solution with easy-to-use back office, routing and delivery capabilities for propane marketers of all sizes.

VALLEY FORGE, Pa. (June 12, 2023) — UGI Corporation announced that Kathleen Shea Ballay was appointed general counsel and chief legal officer, effective June 12. Monica Gaudiosi has retired as UGI’s vice president, general counsel, and secretary, but will remain with the company until mid-July to assist with the transition.

OTTAWA (June 30, 2023) — Carbon tax projections show that low-emission propane will continue to be the best option for heating in Atlantic Canadians’ homes, says the Canadian Propane Association.

“Because propane, like natural gas, has much lower emissions than furnace oil, it is taxed less. As a result, the carbon tax on propane under the federal fuel charge on July 1 will be 7 cents a liter less than furnace oil. By 2030, the difference will be about 19 cents per liter,” said Shannon Watt, president and CEO of the Canadian Propane Association.

TOKYO (July 2, 2023) — The global dual fuel generator market size accounted for USD 592 million in 2022 and is projected to achieve a market size of USD 882 million by 2032 growing at a CAGR of 4.2% from 2023 to 2032.

ASHEVILLE, N.C. (June 28, 2023) — The Outdoor Power Equipment Institute (OPEI), an international trade association representing manufacturers and suppliers of outdoor power equipment, small engines, battery power systems, portable generators, utility and personal transport vehicles, and golf cars, held its 70th Annual Meeting last week at the Omni Grove Park Inn in Asheville, North Carolina. Nearly 150 attendees gathered for the event, where the association announced three new board members and named a new board chair.

TORONTO (June 29, 2023) — Superior Plus Corp. published its third Sustainability Report. The report outlines Superior’s established environmental, social and governance (ESG) practices and includes insight into the company’s 2022 operations and future milestones. The Sustainability Report is available here.

WHIPPANY, N.J. (June 23, 2023) — Suburban Propane Partners L.P., a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, joined Kids to Love, a nonprofit 501c3 state-licensed organization serving hundreds of thousands of Alabama children living in foster care, by providing clothing, holiday gifts, scholarships and essential supplies.