OPEC Members' Net Oil Export Revenue Expected to Fall
Wednesday, November 4, 2020
The U.S. Energy Information Administration (EIA) forecasts that members of the Organization of the Petroleum Exporting Countries (OPEC) will earn about $323 billion in net oil export revenues in 2020. If realized, this forecast revenue would be the lowest in 18 years. Lower crude oil prices combined with a decrease in export volumes are driving this expected decrease in export revenues.
COVID-19 and Energy Transition Will Expedite Peak Oil Demand
Wednesday, November 4, 2020
The COVID-19 pandemic and the acceleration of the energy transition have led Rystad Energy (Oslo, Norway) to significantly revise its long-term oil demand forecast. The virus is expected to have a lasting impact on global oil demand, which the consultancy now sees peaking at 102 MMbbld in 2028. Before COVID-19, it had called for peak oil demand of just over 106 MMbbld in 2030.
Quarles Petroleum Acquires Dixie Gas & Oil Corp.
Wednesday, October 28, 2020
Quarles Petroleum Inc., a regional provider of residential and commercial fuels headquartered in Fredericksburg, Va., has purchased the propane and petroleum operations of Dixie Gas & Oil Corp., a third-generation family-owned propane, commercial fuels, and home heating oil distributor based in Verona, Va.
ROUSH CleanTech’s New Propane Fuel System Now Available
Wednesday, October 28, 2020
ROUSH CleanTech, an industry leader of advanced clean mobility solutions, began production of its Gen 5 propane autogas fuel system in September. The company’s innovative propane autogas technology integrates Ford’s new 7.3L V8 engine in Class 3-7 chassis. The Gen 5 propane fuel system is now available.
API Statement on Oct. 22 Presidential Debate
Wednesday, October 28, 2020
The American Petroleum Institute (API) released the following statement on the Oct. 22 presidential debate from API’s president and CEO, Mike Sommers.
U.S. Rig Count Up 5
Wednesday, October 28, 2020
According to the latest Baker Hughes Rig Count, released Oct. 23, the U.S. rig count is up five from last week to 287. Oil rigs are up six to 211, gas rigs are down one to 73, and miscellaneous rigs are unchanged at three.

The U.S. rig count is down 543 rigs from last year's count of 830, with oil rigs down 485, gas rigs down 60, and miscellaneous rigs up two.
The U.S. offshore rig count is down one to 13, down eight year-over-year.

The Canada rig count is up three from last week to 83. Oil rigs are up two to 42 and gas rigs are up one to 41.
Oil Production Costs Reach New Lows
Wednesday, October 28, 2020
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014. This means that oil is much cheaper to produce now compared to six years ago, with the clear cost savings winner being new offshore deepwater developments.
Cetane Announces Sale of Hometown Heating LLC
Wednesday, October 21, 2020
Cetane Associates LLC (“Cetane”; Kent, Conn.) has announced that Santoro Oil Company, a wholly-owned subsidiary of Total Energy Capital Corporation (“Total”; Providence, R.I.), has acquired the heating oil delivery and HVAC equipment installation and maintenance business of Hometown Heating, LLC (“Hometown Heating”; Brooklyn, Conn.). The transaction closed on Oct. 5, 2020.
ANOVA Founders Win Entrepreneur Of The Year 2020 New Jersey
Wednesday, October 21, 2020
Ernst & Young LLP (EY US) has announced that Martin Adams and Robert Barnacle, founders of ANOVA, were named as Entrepreneur Of The Year 2020 New Jersey Award winners. The Entrepreneur Of The Year Awards program is one of the preeminent competitive awards for entrepreneurs and leaders of high-growth companies.
Canadian Propane, Butane Inventories Higher Year-Over-Year
Wednesday, October 21, 2020
Canada’s primary underground propane inventories increased by 1.7% in September to start October 2020 at 2376.4 Mcm, the equivalent of 15.0 MMbbl, according to the Canada Energy Regulator (CER). The total represented a minimal month-to-month gain of 39.8 Mcm. Compared to a year earlier, stocks were up markedly, with 1063.4 Mcm, or 81.0%, more product on hand.
U.S. Rig Count Up 13
Wednesday, October 21, 2020
According to the latest Baker Hughes Rig Count, released Oct. 16, the U.S. rig count is up 13 from the previous week to 282. Oil rigs are up 12 to 205, gas rigs are up one to 74, and miscellaneous rigs are unchanged at three.

U.S. Rig Count is down 569 rigs from last year's count of 851, with oil rigs down 508, gas rigs down 63, and miscellaneous rigs up two.

The U.S. Offshore Rig Count is unchanged at 14, down eight year-over-year.
Mid-Month to Mid-Month: Prices Solidify
Thursday, October 15, 2020
During the latest mid-month period, prices at Group 140, Conway, Kan., have strengthened, with posted prices adding at least 10 cents/gal. during the time frame, and spots are higher by around a dime. Conversely, Belvieu has toyed around with postings very closely straddling 60 cents/gal. and spots holding a 5-cent range shadowing the 50-cent mark. Supply, prices, and weather remain the unknowns, and with the way 2020 has been, it’s anyone’s guess as to what the fourth quarter holds.
Investor Recapitalizes Energy Distribution Partners (EDP)
Wednesday, October 14, 2020
Pritzker Private Capital (PPC; Chicago), a leader in family direct investing, announced Oct. 6 the completion of a successful recapitalization of Energy Distribution Partners (EDP), one of the leading distributors of propane and light fuels in North America. Pritzker Private Capital has invested alongside Concentric Equity Partners and Duchossois Capital Management, in partnership with EDP’s management team, who will continue to lead the business. Financial terms were not disclosed.
BSEE Monitors Response to Hurricane Delta
Wednesday, October 14, 2020
Bureau of Safety and Environmental Enforcement (BSEE) has activated the Hurricane Response Team and is now monitoring offshore oil and gas operations on platforms and rigs in the Gulf of Mexico as a result of Hurricane Delta. The team works with offshore operators and other state and federal agencies until operations return to normal and the hurricane is no longer a threat to Gulf of Mexico oil and gas activities.
Grants For Propane Autogas School Buses Available To Replace Diesel
Wednesday, October 14, 2020
The National Propane Gas Association (NPGA) reports that government grants are available to replace diesel school buses with new propane autogas buses. The Environmental Protection Agency’s (EPA) Diesel Emissions Reduction Act (DERA) provides funds to public and private fleets for the replacement of old diesel school buses with new or retrofit buses certified to EPA’s cleanest emission standards. The deadline to submit an application is Oct. 30, 2020.
API Expands Advertising Efforts in Key Battleground States
Wednesday, October 14, 2020
The American Petroleum Institute (API) on Oct. 6 expanded its advertising efforts in key battleground states to provide balance to the energy debate in the final weeks of the 2020 campaign. The latest digital campaign series follows API’s ongoing advocacy efforts that began earlier this year and through the conventions.

Two spots highlight everyday conversations about practical solutions to climate change, and another series provides sharp contrast to show what’s at stake if harmful policies like a federal leasing ban are enacted.