Global LPG Market Seen Reaching $359.32 Billion By 2025
Tuesday, September 17, 2019
(September 17, 2019) — The global LPG market was valued at $277.93 billion in 2018 and is expected to reach $359.32 billion by 2025, notching a 3.1% compound annual growth rate (CAGR), according to a new report by Zion Market Research. The firm observes that rapid urbanization and enhanced purchase parity among populations in emerging economies are key factors driving the LPG market.
35% Decline In Onshore Well Production Predicted
Monday, September 16, 2019
(September 16, 2019) — IHS Markit, noting it had harnessed the power of artificial intelligence (AI) to assess, automate, and predict the future production of each of the nearly one million producing oil and gas wells in its North American data- bases, is forecasting rapid onshore oil-production decline rates, with existing wells falling by 35% over the next 12 months. This compares with base declines of 5% to 14% for most petroleum systems globally during the same period—and a base decline rate of less than 15% a decade ago in the U.S.
Expanding NGL Markets Likely To Affect Producer Decisions
Monday, September 16, 2019
(September 16, 2019) — Expanding markets for natural gas liquids produced in the Appalachian Basin should provide an extra financial incentive for natural gas producers in the region to maintain robust production in the long term, although concerns over low gas and NGL prices continue to dominate short-term planning, writes S&P Global Platts.
Enterprise, Chevron Agreements Support Offshore Crude Oil Port
Thursday, September 12, 2019
(September 12, 2019) — Enterprise Products Partners LP (Houston) and Chevron USA Inc., a wholly owned subsidiary of Chevron Corp. (San Ramon, Calif.), have signed long-term agreements supporting the development of Enterprise’s Sea Port Oil Terminal (SPOT) in the Gulf of Mexico.
Pennsylvania Recruitment Program Gets $50,000 in PERC Funding
Monday, September 9, 2019
(September 9, 2019) — The Pennsylvania Propane Foundation has been awarded $50,000 by the Propane Education & Research Council (PERC) for its GeneratioNext Energy Pros initiative, a workforce development program designed to connect students and graduates of technical schools with potential employers in the propane industry.
Expected Refinery Run Rate Decline First In A Decade
Friday, September 6, 2019
(September 6, 2019) — U.S. gross inputs to refineries, also known as refinery runs, have increased each year since 2009, most recently reaching a record-high of 17.3 MMbbld in 2018, reports the Energy Information Administration (EIA). However, based on the agency’s monthly refinery-run data through May and the forecast for the remainder of 2019, EIA expects refinery runs to decline and average 17.0 MMbbld this year.
Pinnacle Propane Buys West Gas Service Co.
Thursday, August 29, 2019
(August 30, 2019) — Pinnacle Propane (Georgetown, Texas) has acquired West Gas Service Co., a central Texas residential and commercial propane distributor. The transaction marked Pinnacle Propane’s sixth acquisition since the company itself was acquired by Netherlands-based SHV Energy in July 2017.
Partnership Releases Inaugural Report on Emissions Progress
Wednesday, August 28, 2019
(August 28, 2019) — The Environmental Partnership, an initiative of U.S. natural gas and oil producers, has released the first of what is planned to be an annual report high- lighting the industry’s progress in reducing emissions of methane and volatile organic compounds. The report contains updates on the partnership’s three performance programs, as well as its growth from just over 20 participants at launch to now counting 65 companies that represent more than 80% of the top natural gas producers in the U.S.
Produce Natural Gas, Store Carbon Dioxide
Monday, August 26, 2019
(August 26, 2019) — New research at the University of Texas at Austin shows that injecting air and carbon dioxide into methane ice deposits buried beneath the Gulf of Mexico could unlock vast natural gas energy resources while helping fight climate change by trapping the carbon dioxide (CO2) underground.
Targa Commences Service On Grand Prix NGL Pipeline
Friday, August 23, 2019
Targa Resources (Houston) said Aug. 8 that its Grand Prix NGL pipeline has commenced full operations, capping a list of significant growth projects. The pipeline, which runs from the Permian Basin in West Texas to Mont Belvieu, is consistently flowing between 150,000 bbld to 170,000 bbld.
12-Year Cylinder Requalification Proposed by PHMSA
Tuesday, August 20, 2019
(August 20, 2019) — The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) has published a notice of proposed rulemaking calling for a return to a 12-year cylinder requalification period after hydrostatic, aka volumetric expansion, testing, reports the National Propane Gas Association (NPGA).
Altus Acquires Stake in Shin Oak NGL Pipeline
Friday, August 16, 2019
(August 16, 2019) — Enterprise Products Partners LP (Houston) and Altus Midstream Co. (Houston) have closed a deal that will have Altus Midstream acquire a 33% equity interest in an Enterprise Products subsidiary that owns the Shin Oak natural gas liquids pipeline. The 658-mile Shin Oak Pipeline transports growing NGL production from multiple basins, including the Permian, to Enterprise’s fractionation and storage complex in Mont Belvieu.
ONEOK To Expand NGL, Natural Gas Infrastructure
Friday, August 16, 2019
(August 16, 2019) — ONEOK (Tulsa) has reported plans to expand natural gas and natural gas liquids infrastructure between now and 2021, including the construction of a 200-MMcfd upgrade of the Bear Creek natural gas processing plant and related infrastructure in the Willison Basin.
$4.5 Trillion Cost Seen for Decarbonizing Power Grid
Wednesday, August 14, 2019
(August 14, 2019) — New analysis by Wood Mackenzie finds that the transition to a 100% renewable U.S. power grid will need an investment of up to $4.5 trillion over the next 10 to 20 years. The Edinburgh, Scotland-based global consultancy estimates that about 1600 gigawatts (GW) of new wind and solar capacity would be needed to produce enough energy to replace all fossil fuel generation in the U.S.
Imported Propane Cylinders Ruled Injurious to Domestic Manufacturers
Tuesday, August 13, 2019
(August 13, 2019) — The U.S. International Trade Commission (USITC) has determined that domestic manufacturers are materially injured by imports of steel propane cylinders from China and Thailand. The U.S. Department of Commerce (DOC) has also determined the cylinders are sold in the U.S. at less than fair market value and are subsidized by the Chinese government.
Volkswagen Settlement Funds Used To Purchase Propane School Buses
Tuesday, August 13, 2019
(August 13, 2019) — South Carolina officials will use the first round of money from the state’s share of the Volkswagen Settlement Fund to buy new propane-powered school buses. The new vehicles will replace aging buses operated by the South Carolina Department of Education. Settlement funds will also be directed at investments in clean-energy public transportation in the Lowcountry and in the city of Anderson.
Refiners Seek To Include Butane as Alternative Fuel
Tuesday, August 13, 2019
(August 13, 2019) — The Associated Press (AP) reports that the Internal Revenue Service (IRS) has been beset by loads of amended excise tax forms submitted by refiners over the past few years. That industry has gained a heightened appreciation of butane, a liquefied petroleum gas and a byproduct of the crude oil refining process. Refiners maintain it qualifies as an alternative fuel under the 2005 surface transportation law. Therefore, it is eligible to receive a 50-cents-per-gallon tax credit, even when it is blended in gasoline.
Petroleum, Natural Gas, Coal Continue to Dominate Energy
Wednesday, August 7, 2019
(August 7, 2019) – Fossil fuels—petroleum, natural gas, and coal— have accounted for at least 80% of energy consumption in the U.S. for well over a century, writes the Energy Information Administration (EIA). Overall energy consumption in the nation reached a record-high in 2018 at 101 quadrillion Btu, of which more than 81 quadrillion Btu were from fossil fuels. Despite the increase, the fossil fuel share of total U.S. energy consumption in 2018 rose only slightly from 2017 and was the second-lowest since 1902.
Strait of Hormuz the World’s Leading Oil Transit Chokepoint
Monday, August 5, 2019
(August 5, 2019) — The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The strait is the world’s most vulnerable oil chokepoint because of the large volumes of crude that flow through it, writes the Energy Information Administration (EIA). In 2018, the strait’s daily oil flow averaged 21 MMbbld, or the equivalent of about 21% of global petroleum liquids consumption.
Quarles Petroleum Acquires PAPCO’s Propane Business
Wednesday, July 31, 2019
(July 31, 2019) — Quarles Petroleum (Fredericksburg, Va.), a regional provider of residential and commercial fuel, recently announced it has acquired the commercial and residential propane business of PAPCO Inc. Quarles said it will transition PAPCO customers into its service centers in southeastern and central Virginia. Quarles clarifies that PAPCO is divesting only its propane business, and will continue to operate its fuel business based in Virginia Beach, Va.
Stocks to Rise Year on Year, Days of Disposition Restrained
Friday, July 26, 2019
The National Propane Gas Association (NPGA), citing weekly stock reports by the Energy Information Administration, observes in its June summary that propane inventories continue to show an increasing separation compared to the volume levels seen in 2017 and 2018 at the same time of year—and a return to the higher supplies the U.S. experienced before the most recent wave of export terminals began operating.