Petroleum Markets Gradually Improving
Wednesday, August 26, 2020
According to data released Aug. 20 in the American Petroleum Institute’s July 2020 Monthly Statistical Report (MSR), U.S. petroleum markets continued to gradually improve in July with inventories backing down from record highs and demand posting its third consecutive monthly increase since April,
Residential Cost of Propane Compares Well
Wednesday, August 26, 2020
The National Propane Gas Association (NPGA) reports that the Department of Energy (DOE) recently released its annual representative average costs for five different residential energy sources. The five sources are electricity, natural gas, No. 2 heating oil, propane, and kerosene. The costs, which will become effective Sept.
Canadian Propane, Butane Inventories Climbed in July 2020
Wednesday, August 26, 2020
Canada’s primary underground propane inventories rose 39.7% in July to begin August at 2046.6 Mcm, the equivalent of 12.9 MMbbl, according to the Canada Energy Regulator (CER). The total represented a strong month-to-month gain of 581.2 Mcm. Compared to a year earlier, stocks were up a staggering 976.5 Mcm, or 91.3%.
Rig Counts Post An Increase
Wednesday, August 26, 2020
Baker Hughes Rig Count for the week ended Aug. 21 shows the U.S. increased by 10 to reach 254 rigs. Oil rigs were up 11 to 183, and gas rigs down one to 69, while miscellaneous rigs unchanged at a total of two.

Looking at year-over-year, the U.S. rig count is down 662 rigs from last year's count of 916, with oil rigs 571 units lower, gas rigs off by 93, and miscellaneous rigs unchanged at two. The offshore rig count is unchanged at 13, and down by 15 year-over-year.
Battleground State Voters Support U.S. Energy Leadership
Wednesday, August 26, 2020
The American Petroleum Institute (API) on Aug. 18 released new polling conducted by Morning Consult that shows two-thirds of voters in key battleground and other states would be more likely to vote for candidates who support access to natural gas and oil produced in the U.S. The polling also shows an overwhelming majority of voters prioritize American energy security and believe it is important for the U.S. not to rely on foreign energy sources.
Phillips 66 Bay Area Refinery To Become Renewable Fuels Plant
Wednesday, August 19, 2020
Phillips 66, a diversified energy manufacturing and logistics company, plans to reconfigure its San Francisco refinery in Rodeo, Calif., to produce renewable fuels. The plant would no longer produce fuels from crude oil, but instead would make fuels from used cooking oil, fats, greases, and soybean oils.
API Welcomes Alaska Coastal Plain Oil and Gas Leasing Program
Wednesday, August 19, 2020
The American Petroleum Institute (API) issued the following statement Aug. 17, in response to the Department of Interior’s approval of the Coastal Plain Oil and Gas Leasing Program in the Arctic National Wildlife Refuge (ANWR) in Alaska. The announcement follows a 2017 congressional mandate requiring the program, which will determine where and under what terms and conditions leasing will occur in the 1.56 million-acre Coastal Plain within the 19.3 million-acre ANWR.
Propane Autogas Presents Opportunities for School Challenges
Wednesday, August 19, 2020
As parents, students, educators, and school administrators ready for the first day of school, all are bracing for the challenges ahead. School transportation is no exception to those challenges, as many school districts will be seeking cost-effective solutions to achieve maximum comfort and safety for their riders, whenever the buses begin operation.
NOAA: Extremely Active Hurricane Season Possible for Atlantic
Wednesday, August 19, 2020
In its annual August update to the Atlantic Hurricane Season Outlook on Aug. 6, forecasters with NOAA’s Climate Prediction Center, a division of the National Weather Service, warned that atmospheric and oceanic conditions are primed to fuel storm development in the Atlantic, leading to what could be an “extremely active” season. The agency urges preparedness as the peak months for hurricane development near. This annual update provides revised projections to the Atlantic Hurricane Season Outlook initially issued in May.
RRC Works to Improve Regulation of Oil, Gas Industry
Wednesday, August 19, 2020
The Railroad Commission of Texas (RRC), in its role regulating energy production and ensuring natural resources are extracted responsibly, has been taking advantage of operational and technological efficiencies to achieve its goals.
“Malicious Cyber Actor” Targeting SBA Webpage
Wednesday, August 19, 2020
The Department of Homeland Security’s cyber agency warned in early August that a “malicious cyber actor” is targeting a Small Business Administration (SBA) webpage used to funnel loans to businesses during the COVID-19 pandemic.
Mid-Month to Mid-Month: Are Propane Prices Strengthening Their Base?
Thursday, August 13, 2020
With crop drying and heating season on the horizon, many marketers are pondering just what Mother Nature has up her sleeve for winter 2020-2021. Deciding how much supply to have on hand can sometimes seem like a roll of the dice. However, will marketers heed the warning of many traders, as well as PERC and the National Propane Gas Association, who advise that supplies should be secured early to ensure that adequate product is in place, or has been procured, as customers begin to purchase their fuel to take them into the fall and winter season?
ThompsonGas Buys Illinois-Based Propane Retailer
Wednesday, August 12, 2020
ThompsonGas LLC (Frederick, Md.) has acquired Midwestern Propane Gas Co. (Belleville, Ill.), one of the largest independent propane retailers in its region. The company serves approximately 5000 residential and commercial customers throughout Illinois and Missouri.
Growmark, Southern States Cooperative Combine Efforts
Wednesday, August 12, 2020
Growmark Inc. (Bloomington, Ill.) and Southern States Cooperative (Richmond, Va.) announced on Aug. 10 plans to close on a transaction on Sept. 1 that aligns the organizations operationally to yield increased innovation, growth, and returns for the farmer-owners of both cooperative systems.
U.S. Permits for New Horizontal Drilling Dip to 10-Year Low
Wednesday, August 12, 2020
A new Rystad Energy (Oslo, Norway) analysis shows U.S. horizontal drilling activity in oil basins, which has plummeted due to the COVID-19 pandemic, is not likely to materially recover this year. Drilling permits, which are increasingly reliable indicators of future activity levels, dipped to a 10-year monthly low in July, with only 454 awards.
Oil Markets Approach Key Point of Recovery
Wednesday, August 12, 2020
The latest IHS Markit Outlook for Global Oil Market Fundamentals and Prices Through 2021, available Aug. 6, finds that oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service.
Baker Hughes Completes July 2020 Rig Counts
Wednesday, August 12, 2020
Baker Hughes reported Aug. 7 that the firm’s international rig count for July 2020 totaled 743, down 38 from the 781 counted in June 2020, and off 419 from 1162 in July 2019. The international offshore rig count for July 2020 was 183, 11 less than the 194 counted in June 2020, and down 72 from the 255 counted in July 2019.

The average U.S. rig count for July 2020 was 255, off 19 from the June 2020 count of 274, and down 700 from July 2019’s count of 955.
Oilfield Services and Equipment Sector Job Losses Near 100,000
Wednesday, August 12, 2020
According to the Bureau of Labor Statistics (BLS), the U.S. economy added 1.8 million jobs in July, however, the Oilfield Services and Equipment Employment Report compiled and published by the Petroleum Equipment and Services Association (PESA), found that employment in the oilfield services and equipment (OFS) sector fell by more than 9300 jobs in July.