Handicapping The 2023-24 Propane Winter Heating Season

2023 has been a tough year for the U.S.

Port Arthur’s State Air Permit Revoked by the Court

The U.S. court of appeals, fifth circuit, has revoked Port Arthur LNG’s Texas state air permit. The 13.5 MMtpa terminal is currently under construction after Sempra reached a final investment decision in March this year.

Gulf of Mexico Oil Spill

An estimated 1.1 million gallons of crude oil have spilled into the Gulf of Mexico off the southeast coast of Louisiana. According to the National Oceanic and Atmospheric Administration (NOAA) the discharge was reported around 9 AM Thursday (11/16) by Third Coast Midstream, operator of the Main

U.S. Gasoline Prices Continue Recent Slide, Down 25 Cents Over Last Month

Gasoline prices have been moving steadily lower over the past two months, a helpful reprieve for drivers planning to hit the road for Thanksgiving.

Record Production Sinks Gas Futures Prices Below $3/MMBtu

Lower 48 natural gas production soared to new heights in recent days, hitting an all-time daily high of 105.8 Bcf/d on November 13, and also setting a weekly record of nearly 105 Bcf/d for the storage week ended November 17 — almost 5 Bcf/d above the year-ago level.

EIA's New Crude-Supply Figures Add Visibility to Market

Lower 48 crude production remained stable at 12.8 MMb/d (orange section of bar bellow) the last two weeks, the fifth and sixth consecutive weeks of flat output, according to Weekly Petroleum Status Report, which was not released last week because of a systems upgrade at the EIA.

US Rig Count Up Slightly, Led by Bakken Increase

Total US rig count was up slightly to end the week of November 17, increasing by two vs. a week ago for a total of 618 according to Baker Hughes. Rigs were added in the Bakken (+2), Permian (+1), Haynesville (+1) and Anadarko (+1), while the Eagle Ford (-2) and Appalachia (-1) both lost rigs.

U.S. Propane Inventories Grow Above Expectations with Unexpected Build in PADD 4/5

The EIA reported that total U.S. propane/propylene inventories built by 1.3 MMbbl for the week ended November 10, a reversal from average industry expectations for a 579-Mbbl decline and the 645 Mbbl average draw for the week. Total U.S.

Out of Left Field, CCS edition

Carbon Capture and Storage (CCS) always seemed a bit kludgy - sort of like emptying the ocean with a teaspoon. The technologies have been proven - but cost has always been the issue, mostly because of the scale of the problem. The IPCC estimates we need to reduce CO2 emissions by 25-30 Billion

U.S. Crude Oil Exports Hit Six-Month High in September: Census Bureau

U.S. crude oil exports reached their highest level in six months in September, as reported in the recent data by the U.S. Census Bureau. The records indicate that shipments amounted to 4.2 MMb/d, marking a 154 Mb/d increase as compared to August volumes.

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