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.
Face Off: U.S. and Middle East Compete for Asian LPG Market
Friday, December 15, 2017
(December 15, 2017) — Global trade of LPG, and more specifically propane, will change significantly over the next four years due to a supply surge, an export infrastructure buildout in North America, a growing surplus in the Middle East, and growing demand in Asia, forecasts ESAI Energy. The consultancy maintains that a snapshot of U.S. LPG exports by destination highlights that, until now, increased exports have owed predominantly to Asia, especially China. However, it argues in a new analysis that the era of easy growth for U.S.
Enbridge, State of Michigan Enter Agreement On Future of Line 5
Wednesday, December 13, 2017
(December 13, 2017) Enbridge Inc. (Calgary) recently entered into an agreement with the state of Michigan laying out a path forward for addressing the future of the company’s Line 5. The agreement increases collaboration and coordination between the state and Enbridge and contains key actions that move toward a long-term solution. Line 5 is a 645-mile, 30-in.-dia. pipeline that originates in Superior, Wis. and terminates in Sarnia, Ont. It transports as much as 540,000 bbld of light crude oil and natural gas liquids.
Pipeline Operators Applaud DOJ Pledge to Prosecute Vandalism
Wednesday, December 13, 2017
(December 11, 2017) The Association of Oil Pipe Lines (AOPL) is applauding a statement by the U.S. Department of Justice (DOJ) pledging to prosecute protesters who damage energy infrastructure. Strong federal prosecutions will occur when individuals or groups vandalize oil and gas pipelines or other U.S. energy infrastructure. “This department is committed to vigorously prosecuting those who damage this critical energy infrastructure in violation of federal law,” a DOJ spokesman said.
Tribal RFP for Diesel Emissions Reduction Program (DERA)
Wednesday, December 13, 2017
(December 13, 2017) — The funding opportunity for tribal governments and Alaska native villages is open for eligible entities. EPA's Office of Transportation and Air Quality is soliciting proposals nationwide for Tribal projects that achieve significant reductions in diesel emissions in terms of tons of pollution produced by diesel engines and diesel emissions exposure, particularly from fleets located in areas designated as having poor air quality. EPA anticipates awarding $1.5 million in DERA grant funding under this announcement.
Very Large Gas Carriers (VLGCs) Cross Atlantic From U.S. Gulf
Monday, December 11, 2017
(December 11, 2017) — S&P Global Platts writes that flows of LPG from the U.S. Gulf Coast to Northwest Europe (NWE) are expected to reach about 148,000 metric tons—1.73 MMbbl—in the first two weeks of this month. Landed volumes over the course of November 2017 were about 188,000 metric tons, which included cargos delivered by two very large gas carriers (VLGCs). VLGCs crossing the Atlantic from the U.S.
Propane Council Announces Inaugural Green Leadership City Award
Monday, December 11, 2017
The Miami-Dade County Parks, Recreation, and Open Spaces Department became the first recipient of the Propane Education & Research Council’s (PERC) inaugural Green Leadership City Award in November 2017. As part of the award designation, PERC donated $5000 to the Parks Foundation of Miami-Dade County. The donation was presented at an event at Southridge Park.
Construction Begins on 650-Mile EPIC NGL Y-Grade Pipeline
Monday, December 11, 2017
(December 11, 2017) — Construction has commenced on the first phase of the EPIC NGL Pipeline project. The 650-mile line will run from southeast New Mexico to Corpus Christi, Texas. When complete in early 2019, the EPIC NGL Pipeline will have throughput capacity of at least 375,000 bbld with multiple origin points in the Delaware and Midland basins.
Dead River Co. Acquires Breggy Oil Service Inc.
Monday, December 11, 2017
Portland, Maine (December 11, 2017) — Dead River Co. recently acquired 71-year-old, family-owned Breggy Oil Service Inc., located in South Portland, Maine. Details of the transaction were not released. The purchase is part of a growth initiative forwarded by Dead River president and CEO Deanna Sherman, whose family-owned company has itself been in business since 1909.
Completion Delayed For Mariner East II NGL Pipeline Project
Tuesday, November 21, 2017
(November 21, 2017) — Energy Transfer Partners (Philadelphia) may bring in a joint-venture partner for its Mariner East II NGL pipeline project, which has now been officially delayed until next year due to construction and regulatory hurdles, executives said in early November 2017, and as reported by S&P Global Platts.
Will West Texas Intermediate (WTI) Replace Brent Crude As Global Benchmark?
Monday, November 20, 2017
The U.S. Energy Information Administration (EIA) recently estimated that Brent crude, the global benchmark, will trade at an average $2.74/bbl premium to West Texas Intermediate (WTI), the U.S. benchmark, this year. However, a Denver drilling services company CEO believes Brent’s status as the world oil price benchmark is facing head-winds, reports S&P Global Platts.
Treasury Department Withdraws Regs That Made Gift Taxes More Expensive
Monday, November 20, 2017
(November 20, 2017) — In what the National Federation of Independent Business (NFIB) is calling a victory for America’s family-owned small businesses, the U.S. Department of the Treasury has withdrawn regulations to Section 2704 that made estate or gift taxes more costly to family-owned businesses.
Latin American LPG Market Undergoing Transformation
Thursday, November 16, 2017
(November 16, 2017) — IHS Markit writes that the expansion of the Panama Canal, which now allows transport of greater, cheaper volumes of LPG, combined with the opening of the Mexican energy industry to private investment, has dramatically shifted the trade balance and altered how regional LPG companies must compete. LPG is a fuel used primarily for residential and commercial cooking and heating in Latin America and other regions, but also for feedstock in chemical production.