Wednesday, July 1, 2020
Canada’s primary underground propane inventories increased 60.8% in May to begin June at 1060.3 Mcm, the equivalent of 6.7 MMbbl, according to the Canada Energy Regulator (CER). The total represented a month-to-month gain of a whopping 400.9 Mcm. Compared to a year earlier, stocks surged 381.7 Mcm, or 56.2%.
Wednesday, June 24, 2020
The U.S. output of natural gas liquids (NGL), which reached an all-time high of 5.3 MMbbld as recently as March 2020, is poised for a sharp two-year decline, Rystad Energy’s (Oslo) base case view reveals. NGL production is forecast to fall to 4.4 MMbbld by the end of 2020 and reach its bottom, just below 4.2 MMbbld, a year later.
Wednesday, June 24, 2020
According to data released June 18 in the American Petroleum Institute’s May 2020 Monthly Statistical Report (MSR) and Q2 2020 Industry Outlook, the gradual reopening of state economies fueled a notable rebound in U.S. energy markets in the month of May. U.S. petroleum demand increased 14% to 16.2 MMbbld. Motor gasoline accounted for more than 80% of the increase in demand with monthly deliveries surging nearly 29% to 7.3 MMbbld after reaching a multi-decade low in April.
Wednesday, June 24, 2020
Research by the Petroleum Equipment and Services Association (PESA) found that employment in the oilfield services and equipment (OFS) sector fell by nearly 15,000 jobs in May, bringing total job losses due to pandemic-related demand destruction to more than 84,000. OFS employment is down 105,000 jobs from May 2019 and now stands at its lowest point since 2017.
Wednesday, June 24, 2020
The organizers of North America’s largest advanced transportation event, ACT Expo, have launched a new event experience to bring critical industry education and networking to fleet executives wherever they are digitally connected. The new online event series, ACT Virtual, will present attendees with timely insight on the latest vehicle technology and fueling infrastructure innovations to help fleet operators achieve their economic and environmental sustainability goals.
Wednesday, June 24, 2020
Lochinvar LLC (Lebanon, Tenn.), in conjunction with the Consumer Product Safety Commission, has recalled condensing residential boilers. The June 18, 2020 recall, number 20-141, is due to the possible deterioration and dislodging of the boiler’s flue grommet during use, allowing the boiler to emit carbon monoxide and thus posing the risk of carbon monoxide poisoning. The units were manufactured in the U.S. by Lochinvar LLC.
Wednesday, June 24, 2020
A payment processor that allegedly ignored clear warning signs its client was operating an unlawful business coaching and investment scheme will be barred from processing payments in the business coaching field under a settlement with the Federal Trade Commission (FTC). Agency alleges Qualpay ignored warning signs that millions in payments were potentially bogus.
Wednesday, June 24, 2020
Baker Hughes’ June 19 rig count found that the U.S. was down by 13 rigs to 266 total and Canada was off by four to 17. Of the 13 lost in the U.S. during the week prior, oil rigs were down 10 to 189; gas rigs were off three to 75; and miscellaneous rigs unchanged at two. The U.S. offshore rig count is down two rigs from last week to 11 and down 13 year-over-year.
Thursday, June 18, 2020
Energy prices remain subject to “heightened levels of uncertainty because mitigation and reopening efforts related to COVID-19 are still evolving,” is the analysis offered in the most recent EIA SEO. It continues, “Reduced economic activity related to the COVID-19 pandemic has caused significant changes in energy supply and demand patterns in 2020, particularly for petroleum and other liquid fuels. Uncertainties persist across EIA’s outlook for other energy sources, including natural gas…” Propane prices react to this uncertainty as well.
Wednesday, June 17, 2020
In a report released June 10, the International Energy Agency (IEA) said the combination of the COVID-19 crisis and an exceptionally mild winter in the northern hemisphere have put global demand for natural gas on course for its largest annual decline in history. Global gas demand is expected to fall by 4%, or 150 Bcm, twice the amount of the decline following the 2008 global financial crisis.
Wednesday, June 17, 2020
In an effort to showcase the zero-emissions outlook of propane autogas, the Propane Education & Research Council (PERC) unveiled a new video highlighting renewable propane: the energy source for fleets now and into the future. The video is available at https://propane.com/environment/benefits-of-propane/#video.
Wednesday, June 17, 2020
Superior Plus Corp. (Toronto) announced June 8 that Brookfield Asset Management Inc., through its Special Investments program, agreed to make a $260 million (U.S.), or approximately $350 million (C), equity investment in Superior through the purchase of newly created perpetual exchangeable Series 1 Preferred Stock of a U.S. subsidiary of Superior on a private placement basis.
Wednesday, June 17, 2020
Following its announcement of the postponement of LPG Week 2020/Dubai to 2021 (date and venue to be confirmed), the World LPG Association (WLPGA) has been exploring innovative ways to unite the LPG industry this year. As the association states, “It is a challenging time to connect, and change is inevitable.” However, it is pleased to announce the launch of a virtual event, e-LPG Week: When the LPG Value Chain Connects, to be held in November 2020.
Wednesday, June 17, 2020
On June 17, bp released the 69th annual edition of the bp Statistical Review of World Energy (bp Stats Review). This year’s edition, which collects and analyses energy data for 2019, highlights the global energy trends emerging prior to the current COVID-19 pandemic.
Wednesday, June 17, 2020
The Propane Education & Research Council (PERC) introduced a new collection of safety resources, in conjunction with National Forklift Safety Day, to support crews nationwide.
Wednesday, June 17, 2020
Valley Farmers Supply (VFS; Worden, Mont.), a local agricultural cooperative, has introduced Valley Propane, a separate brand identity for its established propane business. Under the new identity, VFS will continue to provide delivery service to residential and commercial propane users in southeastern Montana. The new identity of Valley Propane was revealed to the cooperative’s membership in March during the co-op’s 81st annual meeting in Worden.
Wednesday, June 10, 2020
A Rystad Energy (Oslo, Norway) analysis on June 8, confirms the forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the COVID-19-hit global crude and condensate demand, but are also deep enough to create a monthly deficit starting from June 2020 and continuing uninterrupted until at least the end of next year.
Wednesday, June 10, 2020
According to a new survey from the Propane Education & Research Council (PERC), a vast majority of Midwest producers are choosing propane for grain drying compared with other energy options. The findings were gathered from a survey of corn and soybean growers in the Midwest and fruit and vegetable growers in California, conducted by PERC in the first quarter of this year. The survey also revealed the widespread use of propane among producers on their farm and in their homes.
Wednesday, June 10, 2020
During the winter period 2019–2020 (October through March), U.S. propane supplied averaged 648,000 bbld, the lowest level since winter 2016-17, according to EIA’s recently released May Petroleum Supply Monthly. Propane inventories typically build from April to October and then draw down as temperatures begin to drop. In some years, when the corn harvest is delayed or corn grain moisture is too high, an early seasonal spike in demand may occur.
Wednesday, June 10, 2020
The National Propane Gas Association (NPGA) reports that on June 5, President Trump signed H.R. 7010, Paycheck Protection Program Flexibility Act (PPPFA), which will increase access for small businesses as well as expand the program’s flexibility. Congress approved the bill on an overwhelmingly bipartisan basis with the House voting in favor 417-1. The Senate quickly followed suit, passing the bill under unanimous consent on Wednesday evening.
The PPPFA makes several modifications to the program, including:
The PPPFA makes several modifications to the program, including:
Wednesday, June 10, 2020
Canada is the largest source of U.S. energy imports and the second-largest destination for U.S. energy exports, behind only Mexico, according to a recent report from the U.S. Energy Information Administration (EIA). Energy is an important component of trade between Canada and the United States. Based on the latest annual Standard International Trade Classification (SITC) data from the U.S. Census Bureau, in 2019 energy accounted for $85 billion (U.S.), or 27%, of the value of all U.S. imports from Canada.
Wednesday, June 10, 2020
The Air-Conditioning, Heating, & Refrigeration Institute (AHRI) reports U.S. shipments of residential gas storage water heaters for April 2020 decreased 15.1%, to 311,683 units, off from 367,028 units shipped a year earlier. Residential electric storage models shipped fell 5.7% in April 2020 to 322,258 units, down from 341,834 units shipped in April 2019. Year-to-date U.S. shipments of residential gas storage water heaters are off 4.6% to 1,473,757, compared to 1,544,800 shipped during that same period in 2019.
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