Overhead Resistance? Alberta Gas Storage Inching Toward Full Capacity by End of July

Utilizing data from RBN’s Canadian NatGas Billboard, working gas storage in Alberta, the region in Canada with the largest working gas capacity, was pegged at 449 Bcf as of July 1 (red line in chart below).

Going Out With the Tide? Gulf Coast Re-Exports of Canadian Heavy Crude Oil Fell to a 17 Month Low in May

Based on data from the U.S.

Kinder to Relocate Products (SE) Pipe Segment into DC Area Airport

Kinder Morgan plans to relocate and replace a section of its Products (SE) Pipe Line (PPL) system near Alexandria, Virginia, that is within the right-of-way of rail service provider CSX.

Crude Inventories Crater as Demand Soars

Crude inventories fell by 12.16 MMbbl last week, the largest draw since late July 2023, driven by increased exports and refinery demand, partially offset by a minor import decline.

U.S. Propane Inventories Build as Exports Rebound

The EIA reported total U.S. propane/propylene inventories built by 2.3 MMbbl for the week ended June 28, which was slightly above industry expectations for an increase of 1.99 MMbbl and the 2 MMbbl average build for the week. This week’s storage is 6.5% lower than the same time last year.

The Tortured Energy Department: Judge Blocks Biden Pause on LNG Export Permits

On Monday (7/1), a federal judge issued an immediate stay of the Biden administration’s January order halting new LNG export permit approvals, potentially throwing a wrench into Biden’s climate policies and giving a victory to the energy industry. The Biden administration in January announced it

Alberta Sets New Crude Oil Production Record for May; Year-on-Year Growth Plowing Ahead

As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 3.68 MMb/d in May 2024, a record for the month (rightmost stacked bars in chart below) and 254 Mb/d higher than a year ago.

FERC Oil & Liquids Pipeline Index Rates Take a Breather

Effective July 1, oil and liquids pipelines regulated by Federal Energy Regulatory Commission (FERC) and charging “index” rates will be able to increase their rates by just under 1.3%. Index rates are the most popular form of pipeline ratemaking for interstate oil and liquids pipelines.

DOE Sells Gasoline From Northeast Reserve to Five Buyers in Tender

The U.S. Department of Energy sold all 1 MMbbl of gasoline that was offered in a tender from its Northeast Gasoline Supply Reserve (NGSR), priced at an average of $2.34/gal.

Crude Exports Rebound from Previous Week’s Tropical Storm Alberto Impacts

Crude oil loadings across the U.S. Gulf Coast recovered last week, increasing by 1.4 MMb/d to 4.4 MMb/d — the second highest week since mid-March. This significant jump shifted the four-week moving average (dashed red line in chart below) to 3.8 MMb/d.

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