Gail India Planning to Build a New Cracker Fed by Ethane Imports

GAIL Limited, India’s primary natural gas supplier, is planning to build a 3.3 billion lb/year cracker in central India.

Mexico Inks New Crude Term Supply Deals As Refining Issues Persist

At least one U.S. refiner has secured fresh term supply contracts to get Mexican crude as the producer south of the border grapples with issues at its newest and older refineries, limiting their need for domestic oil production, at least for now.

U.S. Crude Exports Fall to Lowest Weekly Level in Nearly a Year

Crude oil loadings across the U.S. Gulf Coast fell by 0.4 MMb/d to 3 MMb/d — the lowest level since July 2023. This drop shifted the four-week moving average (blue line in chart below) to 3.4 MMb/d.

US Rig Count Drops Six, Led By Losses in Anadarko

US oil and gas rig count was down six vs. last week, falling to 594 for the week ending June 7 according to Baker Hughes. This marks the first time rig count has been below 600 since January 2022.

Canadian Drilling – Oil Rig Count Roaring Back, With Gas Going Sideways

As of June 7, Baker Hughes reported that the Western Canadian gas directed drilling rig count was unchanged at 54 (blue line in left hand chart below) and three higher than a year ago.

DOE Seeks 6 MMBbl of Crude to Refill Bayou Choctaw SPR Cavern

The Department of Energy (DOE) has issued two tenders to buy 6 MMBbl of U.S.-produced crude for delivery to the Strategic Petroleum Reserve (SPR)’s Bayou Choctaw storage cavern site in Louisiana.

Permian-to Corpus Crude Oil Flows Dip in January

Crude oil flows from the Permian Basin to Corpus Christi dipped in January 2024 to levels lower than the previous five months. January’s total was 2.24 MMb/d, according to latest data from the Texas Railroad Commission, down from the previous monthly average of 2.34 MMb/d.

Electrolyzers Produce a Fraction of U.S. Hydrogen, But Capacity Ready to Spike

Electrolyzers are responsible for a fraction of current U.S. hydrogen production but capacity is expected to ramp up quickly, according to data published Thursday by the Energy Information Administration (EIA).

Last Hurrah? Gulf Coast Re-Exports of Canadian Heavy Crude Oil Bounce Back in April

Based on data from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the Gulf Coast in April 2024 averaged 196 Mb/d (height of the rightmost stacked columns in chart below), an increase of 42 Mb/d from March, but 98 Mb/d below the year ago level.

Make It Rain - Mexico's Drought Prompts Petrochemical Shutdowns

Mexico’s drought has prompted multiple companies to shut down or sharply reduce petrochemical production in Altamira, a manufacturing hub and port city on the East Coast of Mexico, because local officials have prioritized fresh water availability for consumers over industry.

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