First Time Since 1949 U.S. On Track To Become Net Exporter Of Petroleum. Shale Boom Lowers U.S. Trade Deficit by $250 Billion
Wednesday, December 12, 2018
The U.S. is now on track to become a net exporter of petroleum for the first time since at least 1949, writes IHS Markit, a development leading to additional expected trade deficit gains. The boom in U.S. oil and gas production over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping to reduce the country’s net petroleum imports, a new report by the business information provider observes.
Governments Seen Determining Future Shape of Energy System
Tuesday, December 11, 2018
Major transformations are under way for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production, and globalization of natural gas markets, writes the International Energy Agency (IEA) in its World Energy Outlook 2018 report. “Across all regions and fuels, policy choices made by governments will determine the shape of the energy system of the future,” the organization asserts.
Hexagon Acquires Remaining 50% Stake in Agility Fuel Systems
Tuesday, December 4, 2018
Hexagon Composites ASA (Aalesund, Norway) is acquiring the remaining 50% of Agility Fuel Solutions Holdings Inc. (Costa Mesa, Calif.). The transaction values Agility’s 100% equity at $250 million. Signing of the agreement took place Nov. 8. Closing is expected in January 2019.
FMCSA Adds Propane to Hours Of Service (HOS) Short-Haul Exemption
Friday, November 30, 2018
The National Propane Gas Association (NPGA) reports that the Federal Motor Carrier Safety Administration (FMCSA) has amended its hours-of-service regulations. The move includes propane among the fuels excluded from the requirement to observe a 30-minute break when a driver unexpectedly exceeds the requirements of the short-haul criteria specified in 49 CFR 395.1(e).
Shale Boom Lowers U.S. Trade Deficit by $250 Billion
Friday, November 30, 2018
The U.S. is now on track to become a net exporter of petroleum for the first time since at least 1949, writes IHS Markit, a development leading to additional expected trade deficit gains. The boom in U.S. oil and gas produc- tion over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping to reduce the country’s net petroleum imports, a new report by the business information provider observes.
Space, Water Heating Account for Nearly Two-Thirds of Home Energy
Sunday, November 25, 2018
Space heating and water heating were the top two energy-consuming uses in U.S. homes in 2015, according to the Energy Information Administration’s (EIA) latest Residential Energy Consumption Survey. Space heating consumption can vary considerably by climate and building characteristics, while variation in water heating consumption is driven primarily by the number of occupants in a home. Households use a variety of fuels for space heating and water heating, which affects the end-use shares of household energy expenditures.
Enterprise Projects Set To Boost Fractionation and Processing
Monday, November 19, 2018
Enterprise Products Partners LP (Houston) is again increasing natural gas liquids fractionation capacity at its Mont Belvieu complex, complementing its previously reported move to construct a new fractionator adjacent to the complex. In addition, the company has begun construction of a new natural gas processing plant and work has started to increase LPG loading capacity at its hydro-carbon terminal on the Houston Ship Channel.
Ferrellgas Acquires Wylie LP Gas, Salathe Gas, North Star Exchange
Thursday, November 15, 2018
(November 15, 2018) — Ferrellgas Partners LP (Overland Park, Kan.) has acquired Wylie LP Gas Inc. of Lubbock, Texas; Salathe Gas Co. of Harvey, La.; and North Star Exchange Inc. of Walton, Ind. Terms of the deals were not disclosed. The transactions are expected to be immediately accretive.
Analysis Shows Energy States Recovering from Bust of 2014
Thursday, November 15, 2018
The proliferation of hydraulic fracturing to extract oil and natural gas has been one of the most profound drivers of regional-level growth prospects in recent memory, writes Kark Kuykendall, principal economist, U.S. regional economics, at IHS Markit. It revitalized the energy industry in traditional oil-producing states such as Texas and Oklahoma and opened up brand new industries in North Dakota and Pennsylvania, bringing an economic windfall to rural areas that otherwise would attract little interest for outside investment.
China LPG Importers Hit As U.S., Iran Supplies Fall
Monday, November 12, 2018
Chinese importers of LPG have been hit with higher prices and narrower margins as an ongoing trade dispute and sanctions have forced them to axe supplies from two key exporters—the U.S. and Iran—writes S&P Global Platts. China’s propane dehydrogenation (PDH) plant operators, the main LPG importers, have sought alternative supply as they resell contracted volumes from the U.S., pushing up procurement costs even though the overall LPG market remains well supplied.
Canadian Farmers Cite Propane Supply Tightness for Crop Drying
Monday, November 5, 2018
(November 5, 2018) — While the 2018 corn and soybean harvest on the U.S. side has seen average demand for propane to serve crop drying operations so far, farmers in parts of Western Canada in October were reported to be facing challenges to secure sufficient fuel to get this year’s wet and snowy crop in the bin. “It’s an added stress factor producers don’t need,” Ian Boxall, a grain farmer and vice president of the Agriculture Producers Association of Saskatchewan, told iPolitics.
Superior Plus Buying Assets Of Musco Fuel & Propane In Connecticut
Tuesday, October 30, 2018
(October 30, 2018) — Superior Plus Corp. (Toronto) is acquiring substantially all of the propane distribution assets of Musco Fuel & Propane LLP, an independent distributor based in Wolcott, Conn. that serves residential and commercial customers. Details regarding the transaction were not released. The deal is expected to close in the fourth quarter of this year.
U.S. Energy Trade Balance Still Dominated by Crude Oil, Imports Shrinking According to Census Bureau
Monday, October 29, 2018
(October 29, 2018) — During the past decade the U.S trade gap for energy products has narrowed, observes the Energy Information Administration (EIA). From 2003 to 2007, the value of energy imports was about 10 times greater than the value of exports. By 2017, however, imports were only about 1.5 times greater than exports, according to data from the U.S. Census Bureau.
Crude Oil Largest U.S. Petroleum Export in First Half Of 2018
Thursday, October 18, 2018
Crude oil surpassed hydrocarbon gas liquids (HGLs) such as propane and butane to become the largest U.S. petroleum export, with 1.8 MMbbld of exports in the first half of 2018, the Energy Information Administration (EIA) reports. U.S. oil exports rose 787,000 bbld, or nearly 80%, from the first half of 2017 to the first half of this year and set a new monthly record of 2.2 MMbbld in June. Much of this crude went to destinations in Asia and Oceania such as China, South Korea, and India. Europe was the second-largest market for U.S.
Winter Seen Bringing Cold to Some, Drought Relief to Others
Monday, October 15, 2018
(October 15, 2018) — The upcoming winter season will feature unique El Niño conditions, according to DTN, a provider of insights, information, and decision-support solutions in agriculture, energy, commodity and financial analytics, and weather-sensitive industries. DTN meteorologists are anticipating El Niño will wreak havoc and cause sudden and dramatic changes in weather conditions throughout the season.
Toronto-Based Superior Plus Buys United Liquid Gas Co.
Monday, October 8, 2018
(October 8, 2018) — Superior Plus Corp. (Toronto) has acquired all the issued and outstanding shares of United Liquid Gas Co. (UPE; Reno, Nev.), which operates under the trade name United Pacific Energy. United Pacific Energy is an independent wholesale propane and butane distributor in California. The acquisition will be funded by drawing upon Superior Plus Corp.’s credit facility and is anticipated to close this quarter.
BLM Finalizes New Rule Revising 2016 Venting, Flaring Rulemaking
Thursday, October 4, 2018
WASHINGTON (October 4, 2018) — The U.S. Department of the Interior’s Bureau of Land Management (BLM) has issued a final rule that revises the 2016 Waste Prevention Rule, also known as the venting and flaring rule. The new rule, which included a 60-day public comment period, is aimed at reducing unnecessary burdens on the private sector and restore proven regulations at a time when investment in federal onshore oil and gas is skyrocketing.
ONEOK to Expand LPG System, Provide More Permian Takeaway
Tuesday, October 2, 2018
ONEOK Inc. (Tulsa) on Sept. 10, 2018 said it plans to invest about $295 million to expand its West Texas LPG Ltd. partnership, otherwise known as West Texas LPG, whose pipeline system provides natural gas liquids takeaway capacity to Permian Basin producers.
Diesel Remains Dominant in Commercial Vehicle Market
Monday, October 1, 2018
(October 1, 2018) — Commercial vehicles will continue to run on diesel fuel for the foreseeable future, according to new research from the business information provider HIS Markit. Sixty-six percent of new medium- and heavy-duty commercial vehicles sold in the U.S. will be fueled by diesel—diesel and diesel hybrid—through 2040 compared to nearly 80% today, per findings released in September in the consultancy’s Reinventing the Truck study.
Pipelines Critical to Safely Delivering Michigan Energy
Wednesday, September 19, 2018
(September 19, 2018) — The American Petroleum Institute (API) highlighted the energy industry’s commitment to safety and the important role pipelines play in the life of every Michigan resident at an August U.S. Senate Commerce Committee field hearing on pipeline safety in the Great Lakes region.
Ray Energy Opens New Rail, Truck Terminal in Hampton, NY
Monday, September 17, 2018
Just in time for the winter heating season, Troy, N.Y.-based Ray Energy has commissioned its new propane rail and truck terminal in Hampton, N.Y. The 21-acre, Washington County facility is located near the New York-Vermont border. It features a 16-spot rail siding with an operational capacity of 28 railcars, and on-demand switch ing provided by the Vermont Railroad. Ray Energy’s railcar mover provides the ability to offload 16 cars a day.
Session To Focus On "A Time of Transition In The Americas"
Monday, September 10, 2018
Production of propane is going through what Argus Media calls a “Golden Age,” spearheaded by strong growth on the back of shale gas development in the U.S. The surge in production is having impacts around the world, especially throughout the Americas, where proximity and easy access to North American supply flows make for a heady cocktail of market evolution and growth.
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