US Rig Count Begins September With Small Decline

US Oil and Gas rig count began the month of September with a small decline, falling by 1 vs.

New Crude Transfers Shoots Production Up by 650 Mb/d in June

The EIA released the Petroleum Supply Monthly (PSM) today and introduced a new category called “Transfers to Crude Oil Supply.” This is a new volumetric balance for crude oil and biofuels that includes barrels of unfinished oils (refinery feedstocks) and natural gas liquids (NGLs) that have been

EIA Storage Report and Australian LNG Workers Strike!

For the storage week ending August 25^th, the EIA reported a net injection of 32Bcf. With the South Central U.S. region again posting the only decrease, withdrawing 22 Bcf. This brings working gas storage to 3,115 Bcf.

Permian Basin Production Growth Drives NGL Pipeline Build-Out

The Permian is in the midst of an NGL infrastructure boom as midstream companies are investing to keep up with strong production growth projected over the next several years. Five pipeline projects are currently under construction or in planning which will increase NGL takeaway capacity out of t

Strong Propane Inventory Build as Stocks Increase in All Regions

The EIA reported that total U.S. propane/propylene inventories increased by 3.2 MMbbl in the week ended August 25, which was above average industry expectations for a 2.3-MMbbl gain and the 2.2 MMbbl average build for the week.

U.S. LPG Prices At Historic Lows Relative To Crude Oil

Mont Belvieu propane and normal butane prices are on pace this year to record annual historic lows relative to WTI crude oil. As shown on the the left hand chart below, propane’s price relative to WTI for the year is projected at 36%, which is 14% below the 2010-2023 average level. Normal butan

Gulf Coast Terminals Load Record Volume at 4.8 MMb/d

Crude oil terminals across the U.S. Gulf Coast loaded their highest weekly shipments at 4.8 MMb/d in the week ended August 25 as per the Crude Voyager report. The volume was 686 Mb/d higher than the previous week and up 125 Mb/d from the previous record set in early March.

U.S. LNG Feedgas Demand Down on Pipeline Maintenance

Overall feedgas last week averaged 11.27 Bcf/d, down 280 MMcf/d week-on-week. Flows to Sabine Pass, Corpus Christi, Cameron and Elba were all lower week-on-week.

Summit Carbon Solutions Submits Revised CO2 Pipeline Route After ND Rejection

Stung by the North Dakota Public Service Commission’s decision to reject its plan to build a pipeline that would transport captured carbon dioxide (CO₂) to a storage hub near Bismarck, ND, Summit Carbon Solutions has submitted a revised application designed to address key concerns.

U.S. Refineries Are Capturing a Historically High Portion of the Value of Crude Oil

With diesel prices soaring and motor gasoline not far behind, the 3:2:1 crack spread popped up to $37/bbl on Friday, the highest it has been all year. That’s very good news for refineries, and it’s even better than it looks if we compare the crack spread to crude oil, which indicates refinery ma

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