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.
NPGA Clarifies Revised OSHA Label Compliance Requirements
Wednesday, February 10, 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.
People In The News - In Memorium
Saturday, February 6, 2016
Maskey Martin Heath, 70, who worked for Superior Propane in California and served in the propane industry for more than 50 years, died Dec. 12, 2015. His parents owned a propane business, and early in his career he worked for Loma Linda Gas in California, which later became Superior Propane and was sold in the mid-1990s. He and his wife, Paula, remained in the propane industry leasing tanks throughout the U.S. In 2004, the Heaths purchased Pacific Propane in Monterey County, Calif.
People In The News
Saturday, February 6, 2016
Bob Bailey has been appointed president and CEO of Teeco Products Inc. (Irvine, Calif.), effective Jan. 1, 2016. He has been with Teeco for 26 years, and in the propane industry for 41 years. Bailey started his career with Teeco when the company acquired PACA in 1989, where he was serving in the position of general manager. Since September 2012, Bailey has been executive vice president and COO of Teeco. Hank Weeks, Teeco chairman of the board, has been acting as interim president.
Bergquist Inc. Announces New Online Storefront
Saturday, February 6, 2016
Bergquist Inc. recently introduced a mobile-optimized storefront version of its website. The new mobile site allows customers to access thousands of products from any mobile device, check product availability, view order history, invoices, and additional information. New "Bergquist Academy" training videos are accessible via mobile, as are product spec sheets, service guides, and more. Upgrades to the mobile ordering process were undertaken to enhance customer experience and orders are typically shipped the same day.
www.bergquistinc.com
Calls for Comment on Proposed PERC Consumer Education Campaign
Monday, February 1, 2016
(Feb. 1, 2016) By rule, the Propane Education & Research Council (PERC) must solicit comments before approving any proposed project costing $1.5 million or more. Members of the propane industry and the public are invited to comment on the following funding request:
U.S. Propane Inventories Sink by 6.2 MMbbl
Friday, January 29, 2016
U.S. propane stocks the week ended Jan. 22 fell by 6.2 MMbbl to stand at 83.7 MMbbl, according to the U.S. Energy Information Administration’s (EIA) “This Week in Petroleum” report. As of that reporting period, inventories were 14.4 MMbbl, or 20.8%, higher than a year ago. Gulf Coast volumes dropped by 4 MMbbl, the Midwest 1.7 MMbbl, the East Coast 0.4 MMbbl, and the Rocky Mountain/West Coast 0.1 MMbbl.
EIA: Crude Prices Will Remain Low Through 2016 and 2017
Friday, January 29, 2016
The Energy Information Administration’s (EIA) January “Short-Term Energy Outlook” forecasts that Brent crude oil prices will average $40/bbl this year and $50/bbl in 2017. Forecast West Texas Intermediate (WTI) crude oil
Key Senate Leaders Join NFIB In Push for Permanent Expensing
Friday, January 29, 2016
Dan Danner, president and CEO of the National Federation of Independent Business (NFIB), is thanking Senate Majority Leader Mitch McConnell (R-Ky.) and Sens. Ron Johnson (R-Wis.) and Susan Collins (R-Maine) for boosting support for a tax extenders legislative package that made permanent small business expensing in the tax code.
Honeywell to Supply Processing Plant and Systems to PV Gas
Friday, January 29, 2016
Honeywell (Des Plaines, Ill.) said Jan. 12 it will supply a 250-MMcfd modular gas processing plant and advanced automation systems to PetroVietnam subsidiary PV Gas. PV Gas, Vietnam’s primary gas provider, will use Honeywell’s plant to separate LPG from natural gas at its Ca Mau facility near the southern tip of Vietnam. PV Gas’s capital investment for the project is about $498 million.
Greenkraft Secures EPA, CARB Certifications for Propane, CNG
Friday, January 29, 2016
Southern California-based Greenkraft has received both Environmental Protection Agency and California Air Resources Board certifications for 2016 vehicles with CNG- or propane-powered 6.0-liter engines from General Motors. Greenkraft offers both Isuzu NPR trucks converted to the alternative fuels and its own vehicles based on imported chassis.
State Severance Tax Revenues Decline as Fossil Fuel Prices Drop
Friday, January 29, 2016
Several states that collect significant revenue from severance taxes on fossil fuel extraction are reevaluating current and upcoming operating budgets and taxation structures to address revenue shortfalls, reports the Energy Information Administration (EIA). Severance taxes are often imposed on the extraction of nonrenewable resources such as crude oil, natural gas, and coal.
Additional Research Finds No Groundwater Contamination
Friday, January 29, 2016
Ohio University’s Voinovich School recently conducted a clean water test using 10 samples from injection well sites in Athens, Ohio. Researchers tested for volatile organic compounds which, if found, could indicate oil and natural gas development was contaminating groundwater. Researchers found zero systemic groundwater contamination from oil and natural gas.
Indiana’s Largest Propane Bus Fleet Deploys in Warren Township
Friday, January 29, 2016
Eleven alternative fuel school buses have rolled out for service in the Metropolitan School District of Warren Township. The fleet represents the largest deployment of propane autogas school buses in Indiana. The Blue Bird Vision buses, purchased through MacAllister Transportation (Indianapolis), include ten 78-passenger models and one bus outfitted with a wheelchair lift.