Solis Capital Invests in LEHR
Monday, September 29, 2014
Solis Capital Partners (Newport Beach, Calif.) a private equity firm, has made an investment in LEHR LLC, an award-winning provider of environmentally friendly propane-powered products and tools. Founded in 2007 and headquartered in Los Angeles, LEHR produces a line of propane-fueled marine outboard engines in a variety of low-horsepower configurations, in addition to lawn and garden tools.
U.S. Propane Inventories Rise 1.7 MMbbl
Monday, September 29, 2014
U.S. propane stocks increased by another 1.7 MMbbl the week ended Sept. 19, according to the Energy Information Administration (EIA) in its Sept. 24 “This Week in Petroleum” report. The build for the most recent reporting period placed the nation’s propane supplies at 79.1 MMbbl, 13.7 MMbbl, or 20.9%, higher than a year ago. Gulf Coast inventories increased by 0.9 MMbbl, the Midwest by 0.6 MMbbl, and the Rocky Mountain/West Coast region and the East Coast by 0.1 MMbbl each, EIA said.
NWE Greets Autumn with Ample Supply
Monday, September 29, 2014
The oil giant BG Group (Reading, U.K.) has quietly begun looking for a buyer for part of its prized Tanzanian operation. The FTSE 100 exploration company’s investment in East Africa has been among its biggest successes. It bought majority stakes in three offshore drilling areas in 2010. They quickly produced a string of giant discoveries that have the potential to turn Tanzania and neighboring Mozambique, where more big reserves were found, into the world’s largest gas exporting region after Russia and Qatar.
Propane Exports Jump 14.7% in July
Monday, September 29, 2014
9-29Inventory 350Propane exports from the U.S. in July totaled 13,374,165 bbl, coming in 14.7%, or 1,710,205 bbl, higher than June’s 11,663,960 bbl, reports the U.S. Department of Commerce (DOC). Meanwhile, propane imports also rose, climbing 8.6%, or 225,244 bbl, month over month to reach 2,850,675 bbl, according to the agency.
GTI International Acquires CDH To Expand, Strengthen Offerings
Monday, September 29, 2014
Gas Technology Institute (GTI; Des Plaines, Ill.) subsidiary GTI International has acquired CDH Corp. (Cazenovia, N.Y.), a professional services firm specializing in monitoring and evaluating energy technologies related to building efficiency, combined heat and power (CHP), fuel cell, and solar power performance. For more than 20 years, CDH Corp. has offered field testing, deployment, monitoring, analysis, and reporting for emerging technologies, with a focus on the distributed generation and CHP markets.
Mont Belvieu and Conway Spots Fall Again
Monday, September 29, 2014
Spot propane at Mont Belvieu and Conway, Kan. softened still further Thursday, building on the losses of the previous week to decline another 2.625 to 2.75 cents at Belvieu and an additional 1.875 cents at Conway. Strong back-to-back inventory builds of 1.4 MMbbl and 1.7 MMbbl, respectively, over the past two weeks appear to have temporarily eroded sentiment for stronger prices, note market watchers, who add that nonetheless out-month (cold-month) prices remain harder.
COMMENTARY Postings Slide
Monday, September 29, 2014
With the exception of a single seller on the Dixie Pipeline, all other principal postings declined Thursday compared to the Monday email Update, sliding a minimum of a half cent but as much as 3 cents. The moves down built on losses of a penny to 3 cents early in the week. Conversely, in the West the majority of Los Angeles postings added 2 cents between the two reporting periods.
Alliance AutoGas Receives Dodge, Ford EPA Certifications
Monday, September 29, 2014
Blossman Services Inc. (Ocean Springs, Miss.), managing member of Alliance AutoGas, has received new Environmental Protection Agency (EPA) certifications covering the 2013 and 2014 5.7-liter Dodge Charger, Challenger, Magnum, and Chrysler 300, in addition to the 2011 to 2013 Ford Transit Connect and the 2013 to 2015 Ford 6.8-liter V-10. All certifications are for the Prins VSI fuel system.
Shale Oil and Gas Resources Globally Abundant, Says EIA
Monday, September 29, 2014
Estimated shale oil and shale gas resources in the U.S. and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of global natural gas technically recoverable resources—those that can be produced using current technology without reference to economic profitability—according to a study sponsored by the Energy Information Administration (EIA).
Mid-Month to Mid-Month: Prices Head Higher
Friday, September 19, 2014
The period from mid-August to mid-September saw prices begin to recoup a bit after their summer roller coaster ride. During the latest period, Group 140 retreated below Mont Belvieu as the Texas basing point recaptured its premium over the Midwestern hub. As dealers and customers alike prepare for the autumn and winter season, the markets are taking on a new sense of urgency. How supply and prices will play out this year is anyone’s guess.
U.S. Propane Inventories Jump 1.4 MMbbl
Friday, September 19, 2014
U.S. propane stocks the week ended Sept.12 climbed to 77.4 MMbbl, adding 1.4 MMbbl week over week to stand 13 MMbbl, or 20.2%, higher than a year ago, according to the Energy Information Administration (EIA) in its Sept. 17 “This Week in Petroleum” report. Midwest volumes increased by 1.1 MMbbl, and Gulf Coast supplies rose 0.3 MMbbl. The Rocky Mountain/West Coast region gained 0.1 MMbbl, while the East Coast declined by 0.1 MMbbl. Propylene non-fuel-use inventories represented 4.3% of total stocks, off from 4.7% the previous week.
‘Hidden Gas Tax’ Said to Cost California 18,000 Jobs
Friday, September 19, 2014
The “hidden gas tax” scheduled to hit California drivers on Jan. 1, 2015 will result in a net reduction of nearly $3 billion in economic output and 18,000 jobs in the first year alone, according to analysis released Sept. 16 by the California Drivers Alliance (CDA). The study, conducted by Justin L. Adams of Encina Advisors, maintains there is also a nearly one-in-five chance that allowance prices in California’s cap-and-trade system could be 300% higher than expected, meaning economic losses could skyrocket to $10.8 billion and 66,000 jobs in 2015.
Mont Belvieu and Conway Spots Slide
Friday, September 19, 2014
Spot propane at Mont Belvieu and Conway, Kan. retreated Thursday from mid-week highs that saw Belvieu soar to the 110.00-111.000 cents/gal. range and Conway jump to 109.25-110.00 cents and higher. Thursday saw prices at the Texas trading hub decline 1.5 cents compared to the Monday email Update, while Midwest spots were off a sharper 3.375 cents for the week, losses that don’t reflect a steeper plunge from the middle of the week.
Enable Constructing 200-MMcfd Natural Gas Processing Plant
Friday, September 19, 2014
Enable Midstream Partners LP (Oklahoma City) said Sept. 3 its board of directors had approved construction of an additional 200-MMcfd of natural gas processing capacity near the partnership’s Bradley Processing Plant to serve producers in the South Central Oklahoma Oil Province (SCOOP) rich-gas play. The Bradley Plant, located in Grady County in central Oklahoma, is currently under construction to provide 200 MMcfd of processing capacity, and is expected to be in service during the first quarter of 2015.
DOE Authorizes Louisiana and Florida LNG Export Facilities
Friday, September 19, 2014
The Department of Energy (DOE) has issued authorizations to Cameron LNG LLC and Carib Energy LLC to export domestically produced LNG to countries that do not have a free trade agreement with the U.S. The Cameron LNG terminal in Cameron Parish, La. is authorized to export up to 1.7 Bcfd for 20 years. Carib is authorized to export up to 0.04 Bcfd for 20 years from its proposed facility in Martin County, Fla.
RRC Commissioner Calls Attention to Anti-Hydraulic Fracturing Campaign
Friday, September 19, 2014
Railroad Commission of Texas (RRC) commissioner David Porter has sent a letter to U.S. Secretary of State John Kerry questioning the extent the U.S. Department of State is enforcing sanctions against the financial arm of a Russian oil and gas monopoly, and thereby protecting U.S. interests. A bank affiliated with Gazprom has hired former Senate Majority Leader Trent Lott and former Sen. John Breaux to lobby against U.S. sanctions.
COMMENTARY Most Postings Gain
Friday, September 19, 2014
Most principal postings strengthened even further Thursday, rising as little as a quarter cent but as much as 4.5 cents compared to the Monday email Update. However, two Midwest sellers shaved off a half cent and 0.75 cents, respectively. In the West, Los Angeles postings rose 3 cents over the week.
WSPA Highlights Expansion of California Cap-and-Trade Program
Friday, September 19, 2014
It is good to hear a public dialogue is occurring on the expansion of California’s cap-and-trade system coming Jan. 1, 2015, notes the Western States Petroleum Association (WSPA), when gasoline and diesel used by millions of consumers and businesses will be regulated for the first time under the state’s program. According to economic analysis by the California Air Resources Board (CARB), the expansion of cap-and-trade will increase gasoline prices by as little as 4% and as much as 19%.
Canadian Propane Inventories Climb 21.8%
Friday, September 19, 2014
Canadian underground propane inventories jumped 21.8% in August to reach 1776.8 Mcm, the equivalent of 11.2 MMbbl, as of Sept. 1, according to the National Energy Board (NEB), which noted that stocks rose 317.8 Mcm month over month. Compared to a year earlier, Canada’s propane volumes stood 25% higher and were up by 355.4 Mcm, the agency reports.
BLM to Resume Issuing Leases Year
Friday, September 19, 2014
The U.S. Bureau of Land Management (BLM) will resume issuing oil and gas leases on federal lands in California next year after a study found relatively limited environmental impacts from hydraulic fracturing and other well-stimulation drilling techniques. With the release of the California Council on Science and Technology’s (CCST) independent science review, which BLM commissioned in September 2013, CCST will incorporate and expand the analysis and include a review of offshore and gas well stimulation.
API Welcomes Progress On Natural Gas Exports
Friday, September 19, 2014
The American Petroleum Institute (API) is welcoming final approval by the U.S. Department of Energy (DOE) for exports of LNG from Cameron Parish, La. and Martin County, Fla, and is urging the Obama administration to accelerate the process for other projects.
Women in Propane Council To Present at World Forum
Monday, September 15, 2014
The Women in Propane Business Council (WIP) will cohost a discussion focused on the role of the World LP Gas Association (WLPGA) in the creation of a global network for women in the propane industry. The roundtable discussion will take place during the 27th World LP gas Forum and 29th AIGLP Congress on Wednesday,
Oct. 29 from 11 a.m. to 12:30 p.m. in Miami.