NATIONAL — The United States Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 11.9 million barrels per day this year and 12.8 million barrels per day in 2023, which would surpass the record average production of 12.3 million barrels per day set in 2019. Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 "Short-Term Energy Outlook" (STEO).

WHIPPANY, N.J. (May 23, 2022) Suburban Propane Partners L.P. and Iwatani Corporation of America (Iwatani) announced an agreement to collaborate in advancing the adoption of low-carbon alternative energy solutions across multiple applications in the propane market; including propane blended with renewable dimethyl ether (Propane+rDME). The parties have also agreed to collaborate on opportunities to advance investments in hydrogen infrastructure and transportation services in the United States.

MACON, Ga. — Blue Bird Corporation has implemented a price increase on all model school buses to offset record inflationary pressures and substantially higher costs for raw materials, transportation, and labor.

The company also continues to face supply chain disruptions exacerbated by Russia’s war in Ukraine and the lingering COVID-19 pandemic. Blue Bird's 10% price increase took effect on May 10, 2022.

HOUSTON (May 25, 2022) Lummus Technology announced it and its catalyst partner Clariant have been awarded a major contract by Fujian Meide to supply CATOFIN technology and catalysts for a new, world-scale propane dehydrogenation (PDH) unit in Fuzhou, China. Already operating one PDH unit at its Fuzhou petrochemical complex, Fujian Meide is now building one of the largest PDH units in the world and has selected the CATOFIN process and catalysts for the project's second phase.

During the latest mid-month period, prices at Mont Belvieu decreased as we advance through the spring. The posted prices decreased by 8.334 cents/gal, from April mid-month to May mid-month, while the spot prices decreased 10.75 cents. Conway, Kan., postings ended with a 7.85-cent decrease and spots decreased 6.75 cents over the month.

Tyler Machado, Cetane AssociatesKENT, Conn. (May 10, 2022)Cetane Associates LLC announced that Tyler Machado has joined its financial advisory firm as an analyst. Machado provides analytical support to the firm’s mergers and acquisitions deal execution team. He will work from Cetane’s Washington, D.C., office.