Western Canada Natural Gas Production on Track to Set New Record for April

April is on track to set a new record for monthly production in Western Canada with a majority of the growth coming from the British Columbia side of the unconventional Montney formation.

Weekly U.S. Propane Inventories Post Strong Build As Exports Plunge

The EIA reported that total U.S. propane/propylene inventories had a build of 3.4 MMbbl for the week ended April 21, the largest in the last 10 years for the reporting period and well above industry expectations for a 1.2 MMbbl build.

China Top Destination for VLCCs Hauling U.S. Crude in April

Data from the latest RBN Crude Voyager shows that a record number of VLCCs, 15, departed with U.S. oil in the week ended April 21. Of these, six were scheduled to go to China — the highest number of VLCCs headed to a single destination in a week. A record number of VLCCs have entered the U.S.

Gulf Coast Terminals Load Second-Highest Weekly Volume of Crude Oil

According to the latest RBN Crude Voyager, crude oil loadings on the U.S. Gulf Coast increased for the second straight week and were estimated at 4.7 MMb/d for the week ended April 21, up 257 Mb/d from the previous week.

Energy Transfer Ethane Exports Reach New Highs, Develop Expansion Plans

Ethane exports from Energy Transfer’s Orbit terminal in Nederland, Texas continued on its upward trend during the first quarter of 2023 reaching a record level of 139 Mb/d, an increase of 56% from 1Q22. As shown on the chart below, shipments from the terminal soared last year averaging 118 M b/d

Full Utilization Pushes U.S. Feedgas Demand to Record Levels

Overall feedgas last week averaged 13.61 Bcf/d, up slightly week-on-week. All the U.S. terminals, including Freeport and the still commissioning Calcasieu Pass, are currently operating at or above full-utilization, pushing U.S. feedgas demand to record levels.

April U.S. LPG Exports Remain Robust Despite Decline from March’s All-Time High

Total U.S. waterborne LPG exports remained strong in early April at 2,048 Mb/d, although they dropped 200 Mb/d from March’s record high due to lower Gulf Coast volumes.

Are Soaring WTI Exports Chasing the Newly Inclusive Brent Contract?

U.S. oil exports, the majority of which are WTI grade crude, averaged 4.2 MMb/d from February 2023 through mid-April according to EIA’s Weekly Petroleum Status Report (red dashed line in graph below). That’s up 18% over the 3.6 MMb/d average for 2022.

U.S. to Spend up to $600 billion by 2050 on Carbon Removal : DOE

The U.S.

Could Lower 48 Natural Gas Balances Tighten This Summer?

Mild weather, robust production and an expanding inventory surplus vs. last year have weighed on prompt Henry Hub natural gas futures, and those factors remain a risk to price near term. However, balances could tighten vs.

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