Ethane-to-Gas Ratio Drops Below 1.0 For the First Time in 2023 – Here Comes More Ethane Rejection!

For the first time this year, on Friday the ethane-to-gas ratio, a key indicator of the value of ethane, dropped below 1.0X. The ratio is calculated by converting the price of Mont Belvieu ethane in cents/gallon to its BTU equivalent, then dividing by the price of Henry Hub natural gas. As sho

Re-Exports of Canadian Heavy Crude Oil Set New Record in October

Based on the latest data to October from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the U.S. Gulf Coast reached a new record of 378 Mb/d in the month (height of rightmost stacked bars in chart below).

US Rig Count Up Slightly Led by Haynesville Increase

US oil and gas rig count increased by one vs. a week ago, growing to 626 for the week ending December 8 according to Baker Hughes data.

Golden Pass Timeline Change Knocks Gas Futures

ExxonMobil announced a major timeline change for the Golden Pass project on December 6, severely impacting gas balance projections for 2024.

Latest Ruling from Canadian Regulator Will Further Delay Start Up of Trans Mountain Pipeline Expansion

In the afternoon of December 5, the Canada Energy Regulator (CER) denied a request submitted by Trans Mountain Corporation (TMC), the federally owned organization that is building the Trans Mountain Pipeline expansion (TMX), that will result in the start up of the expansion being delayed by an ad

Weekly U.S. Propane Inventories Drop by 1.8 MMbbl as Exports Soar

The EIA reported that total U.S. propane/propylene inventories fell by 1.8 MMbbl for the week ended December 1, which was above average industry expectations for a draw of 1.4 MMbbl and above the 1.2 MMbbl average decline for the week. Total U.S.

USGC Crude Oil Exports Remained Strong in November

Data from RBN’s latest Crude Voyager report shows that nearly 4 MMb/d of crude oil were exported from U.S. Gulf Coast terminals in November, similar to the volumes loaded in October.

CH4 Emissions from Natural Gas Systems are already declining

With the final methane rule from the EPA released recently, we thought it worthwhile to take a quick look at the current state of emissions from the industry to contextualize the gains promised by the EPA. EPA publishes estimates of CH4 emissions from what they call the "Natural Gas System" in t

Conway Vs. Mont Belvieu Propane Differential Going the Wrong Way?

It is winter in propane country, and even though it has been a relatively mild one so far, propane prices have been remarkably weak. For one thing, the ratio of Mont Belvieu propane to WTI crude oil has been in the dumper all year, averaging a paltry 35% since March. Last year for the same peri

U.S. Emissions Moved Higher in 2022 Even as Coal-Fired Generation Continued to Drop

The challenge of reducing carbon dioxide (CO₂) emissions while at the same time meeting current energy demands can be seen in recent data from the EIA, which shows that CO₂ emissions from energy consumption ticked up in 2022 even as

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