EIA Lowers Crude Forecast; WTI Average to Match Brent
Thursday, March 17, 2016
Average to Match Brent The Energy Information Administration’s (EIA) latest “Short-Term Energy Outlook” forecasts that North Sea Brent crude oil prices will average $34/bbl in 2016 and $40/bbl in 2017, $3/bbl and $10/bbl lower, respectively, than expected in the previous forecast. EIA expects West Texas Intermediate (WTI) prices will average the same as Brent in 2016 and 2017, based on the assumption that the two crudes will compete in the U.S.
Sunoco’s Mariner East 1 Transporting Propane and Ethane to Marcus Hook
Thursday, March 17, 2016
Sunoco Logistics Partners LP (Philadelphia) said March 10 that its Mariner East 1, the first pipeline in the larger Mariner East system, was transporting propane and ethane to the Marcus Hook Industrial Complex and is approaching full operations as it completes loading of the first waterborne ethane shipment. Mariner East 1 is the first phase of the multifaceted Mariner East project.
Pembina Abandons Effort to Develop Propane Terminal
Thursday, March 17, 2016
Pembina Pipeline Corp. (Calgary) has officially abandoned plans to develop a $500-million American West Coast propane export terminal at the Port of Portland, Ore. The news came in the company’s annual report, which stated it was dropping the project.
Industry People On The Move, In Memorium
Wednesday, March 9, 2016
Charlie Brown has joined Rutherford Equipment Inc. (Covington, Ga.) as an outside sales representative, serving customers in eastern and central North Carolina as well as portions of South Carolina. Brown has 40 years of experience in the propane industry, and has held a number of positions including plant manager, division manager, division sales manager, and account manager. People Brown
Majority Wants Government, Industry to Partner on Energy
Wednesday, March 2, 2016
A majority of Americans say government and industry should collaborate to strengthen U.S. energy security and energy independence, according to the latest edition of the University of Texas Energy Poll. The semiannual survey polled 2043 Americans on a wide array of energy issues in January. Among the 58% of survey respondents who support such a cooperative approach, there are some striking differences along political party lines, however.
Awkward! Hydraulic Fracturing Opponent Funds Wrong Results
Wednesday, March 2, 2016
The U.S. Chamber of Commerce notes that hydraulic fracturing’s safety record is so good that not even a study funded by an anti-hydraulic fracturing foundation could find evidence that it contaminates drinking water. The Chamber explains that in 2012 the University of Cincinnati started testing Ohio wells to determine if hydraulic fracturing was causing water contamination.
PERC Opens 2016 Propane Farm Incentive Program
Wednesday, March 2, 2016
The Propane Education & Research Council (PERC) has opened its 2016 Propane Farm Incentive Program, a nationwide research and demonstration initiative offering farmers purchase incentives of up to $5000 toward new propane-powered farm equipment. Sponsored by PERC, the program includes a 10-cent-per-square-foot propane-fueled agricultural heating system incentive, which helps offset the upfront costs of new equipment in exchange for real-world performance data and customer feedback.
MFA Oil Extends Operations Reach into Eastern Kansas
Wednesday, March 2, 2016
MFA Oil Co. (Columbia, Mo.) has acquired S&S Oil and Propane Co. Inc. of Emporia, Kan., a propane, refined fuels, and lubricants retailer. The transaction includes 17 propane storage facilities, five bulk fuel storage terminals, five card refueling locations, and an office in Emporia. Financial details were not released. The deal marked the fourth acquisition for MFA Oil during its current fiscal year.
IRS Releases Guidance for Claiming Forklift Fuel Credit
Wednesday, March 2, 2016
The Internal Revenue Service (IRS) has released guidance on how to claim the federal alternative fuel tax credit, which was retroactively extended on Dec. 18, 2015 by Congress as part of the Protecting Americans from Tax Hikes (PATH) Act of 2015. The credit allows operators of propane-fueled forklifts and autogas vehicles to claim 50 cents per gallon for every gallon of the alternative fuel they used in 2015.
Port of Longview Rejects Propane Terminal Proposal
Wednesday, March 2, 2016
The Port of Longview, Wash. board of commissioners has unanimously voted to discontinue all discussions with Houston-based Waterside Energy LLC that sought to build the first oil refinery on the West Coast in more than 25 years and construct a propane and butane terminal capable of handling 75,000 bbld. Waterside’s proposal outlined a 30,000-bbld refinery with the capacity to also produce 15,000 bbld of biofuel.
Alliance AutoGas Shows High Growth, Performance in 2015
Wednesday, March 2, 2016
Alliance AutoGas said in mid-February that its engineered fuel equipment segments showed highly positive results and a substantial upswing in sales in 2015, including low-emissions nozzle adoption and the number of gallons of gasoline displaced. Stuart Weidie, president of Alliance AutoGas, reports that in 2015 alone the 120 alliance members collectively displaced 45 million gallons of gasoline and produced $54 million in fuel cost savings for the 460 fleets they serve.
New Mexico Defeats Subsidized Natural Gas Expansion Bills
Wednesday, March 2, 2016
The National Propane Gas Association (NPGA) notes that across the country the natural gas industry continues to push for subsidized expansion into so-called “unserved or underserved” areas, usually in the name of economic development. However, the New Mexico Propane Gas Association in mid-February achieved a major victory over unfair expansion.
First LNG Cargo Departs U.S. From Sabine Pass Terminal
Wednesday, March 2, 2016
Cheniere Energy Partners LP (Houston) said Feb. 24 that the first export cargo of LNG produced from Train 1 at its Sabine Pass terminal in Cameron Parish, La. was departing. LNG was loaded on the carrier Asia Vision, chartered by Cheniere Marketing LLC for transport to Brazil. “Today we will finish loading the first commissioning cargo of LNG from our Sabine Pass LNG terminal,” said Neal Shear, chairman of the board and interim CEO of Cheniere Partners.
Big Oil Gains Only Occur With ‘Bottoms’ Prompting Market Shift
Thursday, February 25, 2016
West Texas Intermediate (WTI) crude oil posted a three-day gain of 14.4% the week ended Feb. 20, the biggest three-day gain in about six months for the S&P GSCI index, notes Jodie Gunzberg, global head of commodities
and real assets at S&P Dow Jones Indices. She notes that gains of this magnitude have only happened following near perceived oil price bottoms.
PERC Approves $10-Million Consumer Education Campaign
Thursday, February 25, 2016
The Propane Education & Research Council (PERC) has approved a $10-million consumer education campaign designed to raise awareness of propane and its benefits among homeowners and other consumers. The campaign aims to reach consumers through television, radio, and print advertising and includes a robust digital communications strategy.
IRS Releases New Excise Tax Calculation for Propane
Thursday, February 25, 2016
A legislative alert issued by the National Propane Gas Association (NPGA) reports that the Internal Revenue Service (IRS) Feb. 23 released a new excise tax rate calculation for propane. NPGA advises that, with the revised Form 720, there is a new calculation that claimants must complete to account for the energy content disparity between propane and gasoline.
CETP Certification Changes Adopted by NPGA Board
Thursday, February 25, 2016
The National Propane Gas Association’s board of directors has approved implementation of a new component to the Certified Employee Training Program (CETP) that requires skill evaluators to complete a training course and obtain a registration number. The training course will focus on the administrative aspects of being a skill evaluator, emphasizing the importance of the role and responsibility and the need for the skills to be performed properly.
ExxonMobil Outlook Projects Energy Demand Increase, Carbon Decline
Tuesday, February 23, 2016
Global energy demand will increase 25% between 2014 and 2040, driven by population growth and economic expansion, ExxonMobil (Irving, Texas) said Jan. 25 in the 2016 edition of its “The Outlook for Energy” report. At the same time, energy efficiency gains and increased use of renewable energy sources and lower-carbon fuels such as natural gas are expected to help reduce by half the carbon intensity of the global economy.
December Propane Exports Rise 43.7% for Year
Tuesday, February 23, 2016
Propane exports from the U.S. in December stood at 23,268,338 bbl, according to the Department of Commerce (DOC), 14.8%, or nearly 3 MMbbl, higher than the November total and up a steep 43.7%, or more than 7 MMbbl, from a year earlier when export volumes stood at 16,196,996 bbl. December propane imports totaled 5,078,134 bbl for a 29.3%, or 1,150,988 bbl, gain over November.
ITA Reports Record-Breaking 2015 North American Sales
Tuesday, February 23, 2016
The lift truck market in North America is at an all-time record high in the material handling industry, reports the Industrial Truck Association (ITA). Total retail orders in all classes, excluding exports, totaled 225,534 units in 2015. It was the first year lift truck sales were higher than the industry’s pre-recession level of 215,000 units in 2006, the association observes.
Crescent Point Energy Recalls 118 Million Gallons
Tuesday, February 23, 2016
Crescent Point Energy Corp. (Calgary) is recalling about 118 million gallons of propane due to insufficient levels of odorant, the Consumer Product Safety Commission (CPSC) reports. The recall involves propane delivered to consumers for use in storage tanks or sold at retail locations for use in portable refillable tanks. The fuel was also sold to businesses for commercial and industrial use.
NPGA Clarifies Revised OSHA Label Compliance Requirements
Tuesday, February 23, 2016
The Occupational Safety & Health Administration (OSHA) has revised requirements regarding propane distribution containers. As of Dec. 1, 2015, containers must bear labels that are compliant with the agency’s new Hazard Communication Standard (HCS), advises the National Propane Gas Association. NPGA notes it has received several inquiries regarding the company identification component of the labeling requirement.