Route Changes Proposed for Mountain Valley Pipeline Southgate Extension

Equitrans Midstream, majority owner and developer of the much beleaguered and delayed Mountain Valley Pipeline (MVP) has filed with the Securities and Exchange Commission (SEC) and the Federal Energy Regulatory Commission (FERC) for a route change to the MVP Southgate Extension pipeline project r

EIA Issues New Purity Propane Inventory Data

The Energy Information Administration (EIA) reported new inventory data for purity propane labeled “Propane, fractionated and ready for sale” in the Petroleum Supply Monthly (PSM) released on December 29, 2023. Propane, fractionated and ready for sale stocks (e.g.

EIA Makes Huge Downward Correction to PADD 2; U.S. Propane Weekly Inventories Draw Above Industry Expectations

The EIA reported that total U.S. propane/propylene inventories fell by 3.7 MMbbl for the week ended December 22, which was above average industry expectations for a draw of 1.9 MMbbl and the 2.2 MMbbl average decline for the week. Total U.S.

Crude Oil Inventories Build at Cushing for 10th Straight Week

Volumes at the crude oil storage hub of Cushing, OK, rose by 1.5 MMbbl to nearly 34 MMbbl in the week ended December 22. Although they remain well below the 2023 high of 43 MMbbl in the week ended June 23, it was the 10^th consecutive weekly increase. (See graphic below.)

Williams to Acquire Hartree Partners Natural Gas Storage Assets

Williams announced Wednesday (12/27) it has reached an agreement with Hartree Partners to acquire their portfolio of underground natural gas storage assets. The portfolio includes five storage facilities in Louisiana: Acadia Storage, Cadeville Storage, Perryville Storage, Pine Prairie Energy Cen

Gas Storage Withdrawal Exceeds Expectations

The EIA released its weekly storage report on December 28, showing that 87 Bcf of natural gas was withdrawn from storage during the week ending December 22.

Williams to add 115 Bcf of Natural Gas Storage Capacity in $1.95B Deal

Pipeline operator Williams said Wednesday it would buy six underground natural gas storage facilities with a total capacity of 115 Bcf in Louisiana and Mississippi from an affiliate of Hartree Partners for $1.95 billion.

USGC Terminals Export 4.1 MMb/d; Beaumont Bucks the Trend with a 421 Mb/d Increase in Crude Loadings

Data from RBN’s weekly Crude Voyager report shows that the U.S. Gulf Coast crude terminals collectively loaded 4.1 MMb/d of oil for export in the week ended December 22. All regions except Beaumont, where loadings rose by 421 Mb/d to 514 Mb/d, loaded fewer cargoes than in the previous week.

Midland to Houston (MEH) Crude Oil Price Differential Coming Back, Permian Pipes Filling Up

Crude oil takeaway out of the Permian was massively overbuilt to about 3.0 MMb/d in 2021-22 when the combined Wink-to-Webster/Midland-to-Echo projects came online. As shown in the left graph below, the differential between Midland and Houston (Magellan East Houston, or MEH), had been about $12/b

Tax Credit Rules Include The 'Three Pillars' of Clean Hydrogen

The long-delayed rules around the federal government’s Hydrogen Production Tax Credit (PTC), also known as 45V, which have been the subject of heated debate (and lobbying) since passage of the

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