The Market Looks Toward Spring
Friday, March 23, 2018
(March 23, 2018) — OPEC and countries outside the oil cartel, including Russia, have agreed to keep production curbed as they seek to shrink global stockpiles further to prop up prices above $60 (U.S.) per barrel. After days of debate focusing on how long to prolong oil cuts, 24 countries that control 60% of global product have pledged to keep 1.8 MMbbld off the market next year.
LPG Cancelations Could Reach 10 Cargos in March
Thursday, March 22, 2018
About seven to 10 LPG cargos loading in March 2018 from the U.S. bound for Asia could be canceled as the arbitrage is crunched by persistent soft Asian prices, traders tell S&P Global Platts. This is more than the three to five cargos canceled in the February loading program. Some traders estimated March 2018 shipments to total about 1.4 to 1.5 million metric tons, while others said it could be even lower than 1.4 million metric tons. This is down from around 1.6 million metric tons estimated for February loading.
AOPL Cautions Administration On Steel-Related Trade Actions
Friday, March 9, 2018
(March 12, 2018) — The Association of Oil Pipe Lines (AOPL) is urging caution by the Trump administration as it calls for steel-related trade action that could reduce or significantly delay new pipeline projects and limit U.S. job growth related to those projects. AOPL’s admonition came as the Department of Commerce (DOC) released a report on its investigation of steel imports under Section 232 of the Trade Expansion Act.
Propane Inventories Reach Critical Days of Disposition
Friday, March 9, 2018
(March 9, 2018) — The National Propane Gas Association (NPGA) reports that due to cold weather in late December and early January, total U.S. propane inventories dropped to critical days of disposition levels in February. Propane days of disposition first reached critical levels of 19.8 days and eventually fell below 18 days of disposition in mid-February.
Summer Strength and Winter Weakness Flip LPG Market
Monday, February 26, 2018
(February 26, 2018) — S&P Global Platts writes that through the late summer and into the winter, global markets for LPG have repeatedly defied expectations about seasonal patterns for supply and demand, reversing the usual script by strengthening in summer and weakening in winter, just when prices are typically at their annual peak. Across Europe, the U.S., and Asia, those patterns have been fueled by low stocks and high prices in the U.S.
BLM Oil and Gas Lease Sales Increased 86% In 2017 To $360 Million
Tuesday, February 13, 2018
(February 13, 2018) — In advancing the Trump administration’s goals of promoting American energy dominance, the Bureau of Land Management’s (BLM) state offices in 2017 generated nearly $360 million from oil and gas lease sales, an 86% increase over the previous year’s results of $192.5 million. Among the sales, which together were the highest in nearly a decade, were rights to 949 parcels covering 792,823 acres.
Texas Allliance Advocates NAFTA An Energy Economic Success Story
Tuesday, February 13, 2018
As the process for reworking the North American Free Trade Agreement (NAFTA) continues, the Texas Alliance of Energy Producers’ board of directors has cemented the association’s position on NAFTA after President Donald Trump remarked at the World Economic Forum in Switzerland that he may terminate the agreement and begin negotiations anew.
MFA Oil Acquires Kansas, Missouri Propane Companies
Monday, February 12, 2018
MFA Oil Co. (Columbia, Mo.) announced in late January it had acquired the propane and refined fuel operations of independent retailer Cardie Oil Inc. of Tampa, Kan. and full ownership of Callaway Propane LLC of Fulton Mo. Cardie Oil, founded in 1939, will retain its tire business and a vehicle service garage in Marion, Kan. Callaway Propane was formed in 1998 as a partnership between MFA Oil and Callaway Electric Cooperative.
Large-Scale Shifts in Global Energy System Predicted
Friday, February 2, 2018
Testifying before the Senate Committee on Energy and Natural Resources in January 2018, Fatih Birol, executive director of the International Energy Agency (IEA), outlined four large-scale shifts in the global energy system that will set the scene for the coming decades.
Positive Cash Flow Prioritized Over More Production Growth
Thursday, February 1, 2018
S&P Global Platts writes that while concerns remain with respect to the response of U.S. shale oil to higher prices, the shale hype seems to be over, with CEOs and management teams being held strongly accountable to deliver positive cash flow over production growth even with oil prices above $60/bbl.
Pinnacle Propane LLC Acquires Coyote Fuels of Corpus Christi
Tuesday, January 30, 2018
(January 30, 2018) — Pinnacle Propane LLC (Irving, Texas), a division of SHV Energy, has recently purchased assets of Coyote Fuels LLC (Corpus Christi, Texas). Coyote Fuels is a bulk propane retailer and distributor in Corpus Christi and in the south Eagle Ford basin.

“The transaction was smooth and beneficial for both parties,” said Kenneth M. Talley, president of Coyote Fuels. “Pinnacle did exactly as they indicated they would when the negotiations began and carried all of their promises through closing.”
Ohio EPA Offering Conversion Grants for Propane Trucks and Buses
Thursday, January 25, 2018
A new grant from the Ohio Environmental Protection Agency (EPA) assists owners of diesel- or gasoline-powered Class 7 and 8 vehicles weighing at least 26,000 lb. to convert or replace engines to use propane autogas, CNG, or LNG. The agency notes these cleaner fuels and technologies help improve air quality by reducing diesel emissions such as nitrogen oxide and fine particulates.
U.S. Oil Production Forecast To Reach Record High in 2018
Monday, January 15, 2018
The Energy Information Administration’s (EIA) latest Short-Term Energy Outlook forecasts total U.S. crude oil production to average 9.3 MMbbld in 2017, up 500,000 bbld from 2016. In 2018, EIA expects crude oil production to reach an average of 9.9 MMbbld, which would surpass the previous record of 9.6 MMbbld set in 1970. The agency forecasts that most of the growth through the end of this year will come from tight rock formations within the Permian region of Texas and from the Federal Gulf of Mexico.
USGS Reassesses Alaska Energy; Discoveries Hike NPR-A Estimate
Friday, January 12, 2018
Less than 80 miles from Prudhoe Bay, home to the giant oil fields that feed the Trans-Alaska Pipeline, lies the site of the U.S. Geological Survey’s (USGS) latest oil and gas assessment—the National Petroleum Reserve-Alaska, or NPR-A, and adjacent areas. Managed by the Bureau of Land Management, NPR-A covers 22.8 million acres, more than the entire state of South Carolina.
EIA Forecasts Mostly Balanced Oil Market Emerging in 2018
Wednesday, January 10, 2018
The U.S. Energy Information Administration (EIA) expects global liquid fuels demand to increase in 2018, but not keep pace with supply growth, resulting in global liquids inventories increasing modestly this year. The agency forecasts increasing global liquid fuels inventories by an average of 50,000 bbld in 2018, a downward revision from a 290,000-bbld inventory increase forecast in November.
Cold Could Support U.S. Midcontinent Propane Prices
Monday, January 8, 2018
(January 8, 2017) — Argus Media writes that propane prices in the U.S. midcontinent could strengthen in the first quarter of this year if below-normal temperatures continue in parts of the region during January and February. Temperatures across the northern midcontinent are expected to be below average in January and February, while the rest of the region is expected to see normal temperatures, according to the National Oceanic and Atmospheric Administration’s outlook.
Consumer Alert Issued by New York A.G. For Propane Consumers of Potential Price Gouging, Delivery Delays
Monday, January 8, 2018
ALBANY, NY (January 8, 2018) — The Attorney General of New York has issued a consumer alert warning of potential price gouging and delivery delays for propane customers. According to ABC affiliate, WJLA, Attorney General Eric Schneiderman issued the alert on Saturday encouraging anyone who experiences excessive delays or possible price gouging to contact his office. The alert came after the A.G.'s office received complaints from consumers.
Research Shows Global Economy To Grow 3.2%, Low Recession Risk
Thursday, January 4, 2018
(January 4, 2018) — The global economy will expand 3.2% in 2018, matching the rate of growth achieved in 2017 and marking the first time since 2011 that global growth topped 3%, according to an annual fore- cast released in December by business information provider IHS Markit. “The global economy finally broke through the doldrums in 2017 and the stage is set for continued solid growth in 2018,” said Nariman Behravesh, chief economist at IHS Markit. “We expect continuing expansion in the U.S. and emerging markets to offset plateauing in the Eurozone and Japan.
IC Bus to Continue Offering 7-Year, Unlimited Warranty
Tuesday, January 2, 2018
IC Bus (Lisle, Ill.) in December 2017 said it will continue offering one of the industry’s best standard warrantys on all bus orders—including propane, gasoline, and diesel—that includes seven years, unlimited miles for the 2018 calendar year on Allison 2300/2350/2500/2550 Pupil Transportation Series (PTS) transmissions.
API Welcomes Trump Signing Pro-Growth Tax Reform into Law
Tuesday, January 2, 2018
(January 2, 2018) — American Petroleum Institute (API) president and CEO Jack Gerard welcomed President Trump’s signature on H.R. 1 Dec. 22, 2017 which he said delivered pro-growth, pro-development economic reforms to the U.S. tax code for the first time since 1986.
U.S. Oil, Petroleum Exports More than Double
Tuesday, January 2, 2018
The Energy Information Administration (EIA) in December 2017 reviewed that U.S. crude oil and petroleum product gross exports more than doubled over the past six years, increasing from 2.4 MMbbld in 2010 to 5.2 MMbbld in 2016. Exports of distillate, gasoline, propane, and crude oil all rose, but at different paces and for varying reasons.
WSPA: Fractured Wells Do Not Use Millions of Gallons of Water
Monday, December 18, 2017
Setting the record straight, the Western States Petroleum Association (WSPA) refutes repeated claims that hydraulic fracturing in California uses “millions of gallons of water per well” in a recently published 2017 fact sheet. In fact, the amount of water used is quite small when compared to other water uses. How small? According to 568 well reports led with the FracFocus public website, the average amount of water used for hydraulic fracturing in California in 2012 was 116,535 gallons per well.