A Window of Opportunity Opens for Producers in 2021
Tuesday, December 29, 2020
According to Rystad Energy (Oslo, Norway), the COVID-19 pandemic has devastated crude and condensate demand in 2021, creating massive supply surpluses and filling up inventories, causing producers to slash output in order to keep prices at somewhat profitable levels. The independent energy research and business intelligence company’s latest balances, however, show that 2021 could offer producers a window of opportunity, as monthly supply deficits may reach their highest level in years.
Group Launches New Program to Reduce Flaring
Tuesday, December 29, 2020
The Environmental Partnership Dec. 16 announced the launch of its latest performance program, which is focused on reducing flaring in upstream operations. The flare management program expands on The Environmental Partnership’s core mission, which recently added midstream operations and represents more than 70% of total onshore U.S.
Offen Petroleum Acquires Ozark Mountain Energy
Tuesday, December 22, 2020
Offen Petroleum (Commerce City, Colo.) announced Dec. 15 that it has acquired the business assets of Ozark Mountain Energy, a motor fuel distributor, and Petroleum Express, its affiliate trucking company, both based in Mt. Vernon, Mo. Offen is a provider of motor fuel, lubricants, and petroleum logistics services in Colorado and 15 surrounding states. The acquisition further expands Offen's footprint into the Mid-Continent and Midwestern states.
API Stands Ready to Work With Biden Administration
Tuesday, December 22, 2020
On Dec. 17, American Petroleum Institute (API) president and CEO Mike Sommers issued the following statement regarding reports of President-elect Biden’s nominees for the Environmental Protection Agency, Department of Interior, and Department of Energy.
Tri Gas & Oil Expands on Delmarva Peninsula
Tuesday, December 22, 2020
Matrix Capital Markets Group Inc., an independent investment bank, announced Dec. 21 that Tri Gas & Oil Co. Inc. and Comfort Plus Services LLC has acquired a leading Delmarva Peninsula-based refined fuels distributor and HVAC services business. The seller is undisclosed. Tri Gas & Oil, and its predecessor entities, have been delivering fuel and providing customer service throughout the Delmarva Peninsula since the late 1950s.
Canadian Inventories Remain Strong
Tuesday, December 22, 2020
Canada’s primary underground propane inventories fell by 4.5% in November to start December at 2307.4 Mcm, the equivalent of 14.5 MMbbl, according to the Canada Energy Regulator (CER). The total represented a minor month-to-month decrease of 108.4 Mcm. Compared to a year earlier, stocks were up markedly, with 1254.0 Mcm, or 119.0%, more product on hand.
U.S. Rig Counts Continue to Grow
Tuesday, December 22, 2020
According to the most recent Baker Hughes Rig Count released Dec. 18, the U.S. Rig Count added eight rigs to the previous week’s total to reach 346 rigs. Oil rigs were up by five to 263, gas rigs rose by two to 81, and miscellaneous rigs were higher by one to total two.

The U.S. rig count was down 467 rigs from last year's count of 813, with oil rigs off by 422, gas rigs down 44, and miscellaneous rigs off by one.
The U.S. offshore rig count rose by three to 16, but is down by eight year-over-year.
Alliance AutoGas and Transit Partner Win Sustainability Award
Tuesday, December 22, 2020
Alliance AutoGas (AAG; Asheville, N.C.), a national coalition of businesses providing the fuel, technology, and ongoing support to autogas fleets across the country, and Northeast Tennessee Rural Public Transportation (NET Trans) recently received the 2020 Tennessee Sustainable Transportation Award for their joint efforts in improving the air quality in Eastern Tennessee.
Mid-Month to Mid-Month: Mid-December Prices Go On Tear
Thursday, December 17, 2020
During the latest mid-month period, posted prices at Mont Belvieu strengthened by nearly 7 cents/gal., while spot prices rose just under 4 cents. Group 140, Conway, Kan., postings ended with a 5.53-cent gain and spots pushed up 7.625 cents over the month.
WPN Mt Belvieu Mid month propane price Graph 121720
EPA Rule Provides Transparency and Consistency in Rulemakings
Wednesday, December 16, 2020
The American Petroleum Institute (API) Dec. 9 issued a statement welcoming the finalization of the Environmental Protection Agency’s (EPA) rule about “Increasing Consistency and Transparency in Considering Benefits and Costs in the Clean Air Act Rulemaking Process.” The final rule offers a consistent process to calculate benefits and costs and supports greater transparency in rulemaking.
Tracking Crude Oil’s Year-End Price Increases
Wednesday, December 16, 2020
Crude oil prices appear to be on the upswing, with the front-month futures price for Brent crude oil settling at $48.71/bbl on Dec. 3, an increase of $9.74/bbl from Nov. 2. The front-month futures price for West Texas Intermediate (WTI) crude oil for delivery at Cushing, Okla., rose by $8.83/bbl during the same period, settling at $45.64/bbl.
Rig Counts on the Rise
Wednesday, December 16, 2020
According to the most recent Baker Hughes Rig Count released Dec. 11, the U.S. Rig Count added 15 to the previous week’s total to hit 338 rigs. Oil rigs were up by 12 to 258, gas rigs rose by four to 79, and miscellaneous rigs were off by one to one.

The U.S. rig count was down 461 rigs from last year's count of 799, with oil rigs off by 409, gas rigs down 50, and miscellaneous rigs down two.
The U.S. offshore rig count was unchanged at 13, but down by 10 year-over-year.
S&P Global Platts Analytics’ 2021 Energy Outlook
Wednesday, December 16, 2020
Analysts at S&P Global Platts (New York), an independent provider of information, analysis, and benchmark prices for the commodities and energy markets, released its 2021 energy outlook Dec. 14. The outlook presumes a recovery in global gross domestic product (GDP), highlighted by an acceleration of growth in the second half of 2021.
Updated 2020 Energy Efficiency Indicators Database
Wednesday, December 16, 2020
Energy efficiency and its multiple benefits are key for clean energy transitions, supporting countries in their efforts to meet climate goals, and increase access to energy services, according to the International Energy Agency (IEA). Governments are stepping up energy efficiency policy efforts, setting more ambitious targets and measures such as minimum energy performance standards.
API Welcomes Conservation Funding Protection Act
Wednesday, December 9, 2020
The American Petroleum Institute (API) on Dec. 2 embraced the introduction of the Conservation Funding Protection Act. The legislation, introduced by Sen. John Kennedy (R-La.), would provide regulatory certainty and protect the permitting process for leases in the Western and Central Gulf of Mexico, ensuring the continued supply of billions of dollars in offshore oil and natural gas revenues to support national conservation programs that benefit all 50 states.
API Supports EPA’s Final Particulate Matter Standards
Wednesday, December 9, 2020
The American Petroleum Institute (API) released the following statement Dec. 7 in support of the Environmental Protection Agency’s (EPA) final proposal to maintain existing Particulate Matter (PM) National Ambient Air Quality Standards (NAAQS). EPA is required to review the standards every five years.

The decision follows EPA’s review of the scientific evidence underlying the criterion and is consistent with the recommendation of the agency’s independent Clean Air Scientific Advisory Committee, which voted 5-1 to retain the current standards.
U.S. Rig Count Rises
Wednesday, December 9, 2020
According to the latest Baker Hughes Rig Count, released Dec. 4, the U.S. Rig Count was up three from the previous week to 323. Oil rigs were higher by five at 246, gas rigs were down two to 75, and miscellaneous rigs were unchanged at two.

The U.S. rig count was down 476 rigs from last year's count of 799, with oil rigs off by 417, gas rigs down 58, and miscellaneous rigs, again, down one.
The U.S. offshore rig count was one higher at 13, but down nine year-over-year.