Half-Year Discoveries are the Lowest of the Century
Wednesday, July 8, 2020
Rystad Energy (Oslo, Norway) estimates global discoveries of conventional resource volumes reached just 4.9 Bbbl of oil equivalent (boe) in the first half of 2020, the weakest-performing first half of the 21st century. Compared to the same period in 2019, the resource volumes were 42% lower and the number of discoveries was down by 31%.
New Method for Producing Building Blocks for Medicines
Wednesday, July 8, 2020
In industry, gaseous hydrocarbons, such as ethane and methane, are frequently changed into molecules that can act as building blocks for pharmaceuticals and agrochemicals. These processes typically take place at high temperatures and pressures, and can also produce large amounts of pollutants.
Hiltz Propane Systems Acquires Chesmont Engineering
Wednesday, July 1, 2020
Hiltz Propane Systems Inc. (Marietta, Pa.) plans to acquire Chesmont Engineering Co. Inc. (Exton, Pa.), to offer a unified engineering and turnkey solution to the propane and energy industry. In addition to their specialized expertise in propane systems, Chesmont, founded in 1973, brings engineering experience in the natural gas and industrial heat process industries.
IEA Releases 2020 Energy Efficiency Indicators Database
Wednesday, July 1, 2020
Space heating is the largest end use in the residential sector in IEA (International Energy Agency) member countries, with approximately 48% share, according to a recent release by the agency. Since 2000, space heating intensity in households, which are defined as energy consumption per residential floor area, significantly decreased in most IEA countries. For instance, countries such as Australia, France, Germany, Korea, and Sweden have experienced reductions of more than 35% during this period.
Operation Safe Driver Week To Focus on Speeding
Wednesday, July 1, 2020
The Commercial Vehicle Safety Alliance’s (CVSA) 2020 Operation Safe Driver Week will proceed as scheduled, July 12-18. During this week-long traffic enforcement safety initiative, law enforcement personnel throughout North America will be looking for drivers who are engaging in unsafe driving behaviors on the roadways. Identified drivers will be pulled over by law enforcement and may be issued a warning or citation.
Iraq’s OPEC+ Compliance to Fall Short of Target
Wednesday, July 1, 2020
Iraq produced more than 650,000 bbld above its target output level in May and is now being asked to make up for its non-compliance in future months, says Rystad Energy. The consulting company estimates Iraq’s actual ability to cut more barrels is limited to between 300,000 and 500,000 bbld. Achieving any output target below 4 MMbbld is overambitious given Iraq’s current dire economic need for oil revenues.
Canadian Propane and Butane Inventories Surged in May 2020
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%.
U.S. NGL Output Set to Decrease 20% by End of 2021 from March’s All-Time High
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.
API’s May Monthly Report Shows Signs of Recovery
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.
Oilfield Services and Equipment Sector Employment Continues Decline in May
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.
Newly Launched ACT Virtual Connects Transportation Industry Digitally
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.
Lochinvar Condensing Residential Boilers Recalled Due to Risk of Carbon Monoxide Poisoning
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.
Payment Processor for MOBE Business Coaching Scheme Settles FTC Charges
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.
Rig Count Continues to Decline
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.
Mid-Month to Mid-Month: Prices Rise in Spring Finale
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.
Natural Gas Market Pummeled by Pandemic and Mild Winter
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.
World LPG Association Makes Changes to LPG Week
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.