Rystad Energy Expects 9.4% Drop In Global Oil Demand
Wednesday, April 15, 2020
Rystad Energy’s (Oslo, Norway) latest COVID-19 report that calculates the effect of the novel coronavirus on our lives and offers updated estimates for global fuel markets, including recent developments such as travel restrictions, quarantine obligations, and new government policies worldwide, has once again revised its global oil demand estimates.
Rig Count Continues Downward
Wednesday, April 15, 2020
According to the latest Baker Hughes Rig Count, the U.S. count declined by 62 units last week to 602 rigs. Oil rigs slipped by 58 to 504; gas rigs were off by four at 96 in operation; and there was no change in miscellaneous rigs, holding steady at two.

Comparing year-over-year, the U.S. Rig Count is 420 rigs lower than from last year's count of 1022, as oil rigs fell by 329 and gas rigs were down 93 while miscellaneous rigs added two for a total of two.
PERC Announces Free Webinar Series
Wednesday, April 8, 2020
The Propane Education & Research Council (PERC) has scheduled free webinars to replace education sessions it had planned to hold at trade shows that have now been postponed due to COVID-19. The webinars are designed to help propane professionals stay informed; learn new ideas; expand market knowledge; sharpen sales and marketing skills; and boost productivity.

PERC's upcoming webinar schedule includes the following:

Friday, April 10, at 11 a.m. (EDT): Combating the Competition
PERC Releases Refueling Infrastructure Installation Video
Wednesday, April 8, 2020
The Propane Education & Research Council (PERC) has released a new online video that gives fleet owners an in-depth look at what happens during the installation of a permanent, on-site propane autogas refueling station.

The video walks through each step of the process, including the installation of a concrete foundation, one or more large capacity fuel tanks, a pump, one or more dispensers with meters, and crash protection.
U.S. Expected to Return to Being a Net Importer of Crude
Wednesday, April 8, 2020
In the April Short-Term Energy Outlook (STEO), the Energy Information Administration (EIA) forecasts that the United States will again become a net importer of crude oil and petroleum products in the third quarter of 2020 and remain a net importer in most months through the end of 2021. As U.S. crude oil production continues to decline, fewer barrels are available for export. In addition, net exports of petroleum products will be lowest in the third quarter of 2020, when U.S. refinery runs taper off in response to lower demand for refined products.
Tenth District Energy Activity Fell at a Steep Pace Federal Reserve Reports
Wednesday, April 8, 2020
The Federal Reserve Bank of Kansas City (Kansas City, Mo.) released the first quarter Energy Survey April 7. The survey revealed that energy activity in the Tenth District decreased at a steep rate and expectations for future activity dropped further, according to Chad Wilkerson, Oklahoma City Branch executive and economist at the Federal Reserve Bank of Kansas City.
Ray Energy Opens New Supply Point in Vermont
Wednesday, April 1, 2020
Troy, N.Y.-based Ray Energy has opened a new supply point at the Bellows Falls, Vt., rail-access bulk propane storage terminal, which will allow the company to better serve marketers in the Northeast.

Similar to its rail and truck terminal in New York state, Ray Energy will be bringing its own rail car supply into Bellows Falls for distribution to Vermont, Maine, New Hampshire, Massachusetts, Rhode Island, and Connecticut.
ThompsonGas Acquires Florida Propane Marketer
Wednesday, April 1, 2020
ThompsonGas (Frederick, Md.) has acquired Energized Gas Inc., a propane provider in Port St. Lucie, Fla. ThompsonGas is proud to welcome Energized Gas Inc. customers to the ThompsonGas family and is committed to serving the residential, commercial, and industrial customers who have valued Energized Gas’ presence in the area for many years.

“We are very excited to add Energized Gas to our Florida footprint,” said Jeff Kerns, CEO. “This is a significant addition to our Florida operations and we have tremendous growth opportunities at this location.”
EGLE Fuel Transformation Program Grants Fund Diesel School Bus Replacements
Wednesday, April 1, 2020
Michigan school districts will replace 300 older diesel buses with models powered by clean diesel and propane engines under grants awarded by the Michigan Department of Environment, Great Lakes, and Energy (EGLE). More than $8.7 million in grants will be awarded under EGLE’s Fuel Transformation Program. Districts will have the new buses on the road within the next two years.
TC Energy to Build Keystone XL Pipeline
Wednesday, April 1, 2020
TC Energy (Calgary, Alta., and Houston) will proceed with construction of the Keystone XL Pipeline Project, an investment of around $8 billion into the North American economy.
EIA Makes Changes to Its Petroleum Supply Monthly
Wednesday, April 1, 2020
The U.S. Energy Information Administration (EIA) has made the following changes to petroleum supply data effective in Petroleum Supply Monthly (PSM) data released on March 31.
Company Initiatives to Reduce Methane Emissions
Wednesday, April 1, 2020
The American Petroleum Institute (API) on March 31 commended the launch of the Texas Methane and Flaring Coalition, an initiative representing nearly 80% of oil production in Texas and formed to minimize methane emissions and flaring in the state of Texas. The majority of the nearly 40 members of the new coalition also participate in other initiatives that improve environmental performance, including The Environmental Partnership.
U.P. Energy Task Force Releases Draft Recommendations
Wednesday, March 25, 2020
The U.P. Energy Task Force has publicly released 14 draft recommendations it is making to the governor of Michigan on propane availability in the state’s Upper Peninsula. The recommendations were posted to the Task Force’s website March 20 along with a technical report on propane and possible impacts if delivery were to be interrupted.
Energy, Energy Efficiency Sectors Employ 6.8 Million Workers
Wednesday, March 25, 2020
The U.S. energy and energy efficiency sectors currently employ 6.8 million workers, and added 120,300 new jobs in 2019, more than 7% of all newly created jobs nationwide.

So says the 2020 U.S. Energy & Employment Report (USEER) published March 23 by the Energy Futures Initiative (EFI) and the National Association of State Energy Officials (NASEO). This is the fifth annual in-depth survey of the U.S. labor force and skill trends in five energy sectors across all 50 states and the District of Columbia.
Shale Production Could Contract 1.0 mmbbld Within the Year
Wednesday, March 25, 2020
As a price-elastic source of supply, U.S. shale production will respond relatively quickly to the steep drop in oil prices, ESAI Energy LLC reported March 16. Already, U.S. exploration and production (E&P) companies are reporting further reductions to their 2020 spending guidance and cutting back on drilling activity. “A new-normal is here, with fiscal discipline and strong balance sheets even more important to weather current and future price volatility,” the firm explained.
Customer Satisfaction With Energy Utilities Dips
Wednesday, March 25, 2020
Customer satisfaction with the energy utilities sector has taken a hit, dropping 1.5% to a score of 72.1 (on a scale of 0 to 100), according to the American Customer Satisfaction Index Energy Utilities Report 2019-2020. This is the second straight year customer satisfaction with energy utilities has faltered.
Canadian Propane Inventories Slumped 13.0% in February, Butane Dips
Wednesday, March 25, 2020
Canada’s primary underground propane inventories fell 13.0% in February to 395.4 Mcm, the equivalent of 2.5 MMbbl, according to the Canada Energy Regulator (CER). The draw represented a month-to-month loss of 59.3 Mcm. Compared to a year earlier, stocks stood 166.1 Mcm lower, off 29.6%.
Markets Worldwide Continue to Decline
Wednesday, March 18, 2020
As product markets fell to their lowest levels in three years or more, S&P Global Platts provided an overview of the European refined product markets on March 16. The Russia-Saudi price war and coronavirus concerns continued to weigh heavily on demand. Products were taking their lead from crude, as the consultancy reported dated Brent at $27.945/bbl, off $3.90/bbl.
DOT Publishes Notice of CBD Products
Wednesday, March 18, 2020
The U.S. Department of Transportation (DOT) recently published a Policy and Compliance Notice regarding treatment of cannabidiol (CBD) products, the National Propane Gas Association (NPGA) reports. According to the Notice, DOT does not distinguish between the use of CBD products and any other marijuana use by safety-sensitive employees, including drivers transporting hazardous materials, the association explains. Therefore, propane drivers who use CBD products may test positive for marijuana on drug exams.
Oil Surplus to Push Prices Lower
Wednesday, March 18, 2020
On March 16, 2020, IHS Markit reported the current crude oil situation points to the possible buildup of the most extreme global oil supply surplus ever recorded. It estimates that, if the price war continues amid a global recession and coronavirus crisis, the surplus could range from 800 MMbbl to 1.3 Bbbl in the first six months of 2020. Since 2000, the largest six-month global surplus had been during late 2015 to early 2016, when it was a cumulative 360 MMbbl.
Offen Petroleum Increases Presence in Colorado, Nebraska, Kansas, and Iowa
Wednesday, March 18, 2020
Offen Petroleum (Commerce City, Colo.), an independent fuel distributor, has signed an agreement to acquire the business assets of Bosselman Energy, a fuel distributor, and Bosselman Carriers, a trucking company, both based in Nebraska. Details of the transaction were not provided.