During the latest mid-month period, prices at Mont Belvieu continued to increase as we get further from winter. The posted prices increased 9.083 cents/gal, from January mid-month to February mid-month while the spot prices increased 10.125 cents. Conway, Kan., postings ended with a 6.65-cent increase and spots increased 8 cents over the month.

NATIONAL — The United States Energy Information Administration (EIA) forecasts that the Brent crude oil price will average $90 per barrel in February and nearly $88 per barrel for the first half of this year. In its February Short-Term Energy Outlook (STEO), EIA estimates that commercial oil inventories in the OECD fell to their lowest levels since mid-2014, which has contributed to current high prices.

EIA increased its Brent crude oil price forecast for 2022 by nearly 11% in its February STEO update.

 

Valley Forge, Pennsylvania (Feb. 15, 2022) — UGI Corporation announced that its subsidiary, AmeriGas Propane, the nation’s largest retail propane marketer, has entered into an agreement with Global Clean Energy Holdings Inc. to purchase and distribute renewable LPG. AmeriGas will leverage its supply and logistics infrastructure and sales and marketing teams to market and distribute renewable LPG to new and existing customers primarily in the state of California.

A total of 74 billion-dollar deals were undertaken in the oil and gas industry last year, compared to only 40 in 2020, says GlobalData. The data and analytics company notes that oil price recovery encouraged companies to undertake more high-value deals to push forward their growth plans. The largest deal in terms of value for 2021 was announced toward the end of the year, when prices were at multi-year highs. It involved the proposed $13.9 billion acquisition of North Sea operator Lundin Energy by Aker BP.

Wisconsin (February 2022) — Legacy Energy Consulting announced they recently facilitated the successful sale of Strobel Propane Gas, located in Kewaskum, Wisconsin, to Cole Oil & Propane located in Lomira, Wisconsin.

Ocean Springs, Miss. (Feb. 3, 2022) Blossman Gas Inc. acquired three propane companies in 2021: Coastal Gas Services in Outer Banks, North Carolina, Dolphin Gas in Miami, Florida, and Ford’s Propane in North Myrtle Beach and Loris, South Carolina, and Bolivia, North Carolina.

Coastal Gas Services was founded in 1994; Dolphin Gas opened in 1958; and Ford’s Propane has been doing business since 1923. Blossman Gas will retain employees from each of the acquisitions.

LANCASTER, Penn. (Feb. 2, 2022) Cargas is excited to announce a new promotion on its Cargas Energy customer support team. 

Pamela Morrissey, formerly the customer support manager for the Cargas Energy business unit, is promoted to director of energy support. In her new position, Morrissey leads the company's customer and technical support teams in addressing questions and concerns about Cargas software.

FREDERICK, Md. (Feb. 1, 2022)ThompsonGas LLC, headquartered in Frederick, Maryland, announces it has been awarded $439,125 in funding for an alternative fuel vehicle and infrastructure project to reduce greenhouse gas emissions in Pennsylvania.

This grant is part of the Pennsylvania Department of Environmental Protection (DEP) wherein more than $2.7 million in Alternative Fuel Incentive Grants (AFIGs) are to be awarded to 18 cleaner fuel transportation projects statewide.