Vast Majority of Keystone XL Crude Would Be Used in U.S.
Friday, March 13, 2015
Most, if not all, crude oil that would be trans­ported on the proposed Keystone XL pipeline from Canada to the Gulf Coast would not be exported, and the vast majority of refined product—about 70%—derived from it would be consumed in the U.S., according to a new report by IHS. The report, which analyzes the outlook for oil sands and other heavy crudes in North America, also says that the amount of oil sands flowing into the U.S.
U.S. Propane Inventories Decline 1.3 MMbbl
Friday, March 13, 2015
U.S. propane stocks the week ended March 6 fell by 1.3 MMbbl, according to the Energy Information Admin­istration (EIA) in its March 11 “This Week in Petroleum” report. As of then, inventories stood at 53.7 MMbbl, 27.7 MMbbl, or 106.2%, higher than a year ago. Midwest volumes gave up 2.5 MMbbl, the East Coast 0.3 MMbbl, and the Rocky Mountain/West Coast region 0.1 MMbbl. However, Gulf Coast supplies gained 1.5 MMbbl, according to EIA.
Bi-Fuel Conversion Featured at NTEA Work Truck Show
Friday, March 13, 2015
Alliance AutoGas is rolling out a bi-fuel autogas Ford Interceptor, a popular vehicle option for law enforce­ment. The Ford Interceptor joins a diverse offering of EPA-certified vehicles to police agencies by Alliance AutoGas that includes the Dodge Charger, Chevrolet Tahoe, Ford Crown Victoria, and F-150 pickup.
Port Commissioners Reject Haven Energy Export Terminal
Friday, March 13, 2015
Port of Longview, Wash. commissioners March 10 unanimously rejected a proposed export termi­nal project by Sage Midstream (Houston) subsidiary Haven Energy. Two of the three commissioners said they would support the project, but not at the pro­posed 24-acre site near the port’s Berth 4. Yet another said his no vote was a matter of trust. It was not imme­diately clear whether the vote killed the project, but that seems likely.
Spot Propane Continues Slide Lower
Friday, March 13, 2015
Spot propane at Mont Belvieu and Conway, Kan. lost additional value Thursday, March 12, building on the March slide that has seen Texas and Mid­west spots each shed about 6 cents. Market watchers note warming tem­peratures are weighing on propane and crude oil prices, although weather forecasters were calling for yet another surge of cold air to sweep the Mid­west and Northeast. Additional episodes of unseasonably cold conditions were also expected into April.
Texas Representative Leads Drive to End Oil Export Ban
Friday, March 13, 2015
U.S. Rep. Joe Barton (R-Texas), leading a group of a dozen lawmakers, has introduced H.R. 702, which would remove all restrictions on the export of crude oil from the U.S. The sponsors note that growing domestic production from shale reservoirs has made the nation the largest oil producer in the world, but laws governing export of the resource are nearly 40 years old.
San Joaquin Valley Farm Saves Money With Propane
Friday, March 13, 2015
Steve Maddox, a third-generation farmer and gen­eral partner of the 8000-acre Maddox Farms in Riverside, Calif., reports that his two-year-long trial of a dual-fuel retrofit system for irrigation engines has saved him about $15,000 a year.
COMMENTARY: Deep Discounts
Friday, March 13, 2015
Building on more modest moves lower early in the week, Thursday, March 12 saw principal postings shed additional value. Prices gave up a minimum of 1.5 cents but as much as 12.5 cents compared to the Monday email Update, with losses of a nickel and more common. Early-week discounts were in a range of a half cent to 4.5 cents.
Textile Supply Company Adds 20 New Propane-Fueled Trucks
Friday, March 13, 2015
AmeriPride Services (Minnetonka, Minn.), a textile rental and supply company, is expanding its alterna­tive fuels program to include additional propane autogas trucks following a successful pilot project. In addition to five Roush CleanTech Ford F-59 delivery trucks in Topeka, Kan., the uniform and linen firm is adding 20 more in Northern California later this year. AmeriPride laid out its plans at the NTEA Work Truck Show in Indianapolis, Ind. March 4.
Proposed Regulations Issued for Exploratory Drilling, Offshore Alaska
Friday, March 13, 2015
The Bureau of Safety and Environmental Enforce­ment (BSEE) and the Bureau of Ocean Energy Manage­ment (BOEM) have released proposed regulations aimed at ensuring that future exploratory drilling activities on the U.S. Arctic Outer Continental Shelf are done safely and responsibly, subject to strong and proven operational standards. The proposed Arctic-specific regulations focus solely on offshore exploration drilling operations within the Beaufort Sea and Chukchi Sea planning areas.
Obama Vetoes Keystone XL Pipeline Bill; Cities Rush
Thursday, February 26, 2015
President Obama Feb. 24 carried out his threat and vetoed a bipartisan-backed bill authorizing the Key­stone XL pipeline. The president’s veto came nearly two weeks after the House and Senate passed the legislation.
U.S. Propane Inventories Fall 2.2 MMbbl
Thursday, February 26, 2015
U.S. propane stocks fell by 2.2 MMbbl the week ended Feb. 20 to stand at 59.2 MMbbl, according to the Energy Information Administration’s (EIA) Feb. 25 “This Week in Petroleum” report. As of that reporting period, volumes stood 32.6 MMbbl, or 122.1%, higher than a year ago. Gulf Coast supplies decreased by 1 MMbbl, the East Coast by 0.7 MMbbl, and the Midwest by 0.5 MMbbl. Rocky Mountain/West Coast regional inventories remained unchanged.
Topping Off...
Thursday, February 26, 2015
…Blossman Gas (Ocean Springs, Miss.) has acquired Dixie Gas of Chesterfield, Va. The purchase is its fifth acquisition of the past year. Serving the Richmond, Va. market for more than 45 years, Dixie Gas was formerly owned by Mary Ann and Brooke Hamilton. “We are very pleased that the Hamiltons have selected Blossman Gas to continue their long and fine tradition of exceptional ser­vice to their customers in the Richmond area,” said Stuart Weidie, Blossman president and CEO.
Enterprise, Anadarko, DCP, and MarkWest Form Panola Venture
Thursday, February 26, 2015
Enterprise Products Partners LP (Houston), Anadarko Petroleum Corp. (The Woodlands, Texas), DCP Midstream Partners (Denver), and MarkWest Energy Partners LP (Denver) have formed a joint ven­ture under which Enterprise will assign 45% owner­ship in Panola Pipeline Co. LLC. The interest will be evenly divided among Anadarko’s affiliate, WGR Asset Holding Co. LLC, DCP Midstream, and MarkWest.
Strong Oil Production Growth May Come to a Halt this Year
Thursday, February 26, 2015
Stunning growth in U.S. oil production may come to a halt by mid-2015 as low oil prices begin to constrain U.S. tight oil production, which has been the dominant engine of world oil supply gains in recent years, according to a new report by the energy consultancy IHS. Growth is still expected in the yearly months of this year, but that momentum will level off in the latter half of the year amid prices at lows not seen since the 2008-2009 Great Reces­sion.
Lawsuit Abuse Bill Introduced By Iowa, Texas Legislators
Thursday, February 26, 2015
Senate Judiciary Committee chairman Chuck Grassley (R-Iowa) and Rep. Lamar Smith (R-Texas), former chairman of the House Judiciary Committee, have introduced legislation to reduce frivolous lawsuits that bog down the legal system and cost businesses billions of dol­lars every year. The Lawsuit Abuse Reduction Act (LARA) would impose mandatory sanctions for lawyers who file meritless suits in federal court.
IC Bus CE Series Propane School Bus Available for Order
Thursday, February 26, 2015
IC Bus (Lisle, Ill.) said Feb. 23 that its CE Series school bus powered by Power Solutions International’s (PSI; Wood Dale, Ill.) 8.8-liter propane engine is available for order. The CE Series PSI heavy-duty propane engine is said to offer a cleaner, quieter, and more user-friendly alternative to diesel that won’t sacrifice power, torque, or durability.
Mont Belvieu, Conway Spots Edge Higher
Thursday, February 26, 2015
Spot propane at Mont Belvieu and Conway, Kan. edged still higher Thursday, Feb. 26, building on early-week gains. Belvieu prices climbed another 1 to 1.25 cents compared to the Monday email Update, while the Midwest rose 0.625 cents. Monday saw the Texas trading hub up a quarter cent to 0.375 cents, while Conway prices hardened by a penny from the previous report­ing period. Meanwhile, weather demand has finally kicked in, with the Energy Information Administration reporting that U.S.
COMMENTARY: Most Postings Jump
Thursday, February 26, 2015
Although there were some discounts in evidence, most principal postings gained ground Thursday, some considerably compared to the Monday email Update. Prices either hardened by 0.75 cents to as much as 7 cents, shed the odd 0.13 to 2.25 cents, or in the case of one seller stayed the same.
Williams, Crestwood Commission Bucking Horse Processing Plant
Thursday, February 26, 2015
Williams Partners LP (Tulsa) and Crestwood Midstream Partners LP (Houston) have commissioned the Bucking Horse gas processing facility in Converse County, Wyo., adding 120 MMcfd of processing capacity in the Powder River Basin’s Niobrara Shale play.
Asian Economic Expansion to Drive Energy Demand, Growth
Thursday, February 26, 2015
Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia—particularly in China and India—will drive continued growth in the world’s demand for energy over the next 20 years. According to the new edition of BP Energy Outlook 2035, global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year.
Proulx Oil & Propane Merges With J.A. Bourque & Sons
Thursday, February 19, 2015
Proulx Oil & Propane (Newmarket, N.H.) has joined forces with J.A. Bourque & Sons, a 78-year-old oil company in Manchester, N.H. The combined company will provide heating oil and propane delivery, air conditioning and heating system installation and 24-hour service for homeowners from southern Maine and the Seacoast through central New Hampshire and the White Mountain region.