Phillips 66's Rodeo Complex Reaches Full Rates

Phillips 66 has fully converted its Rodeo Renewable Energy Complex to processing solely renewable fuels feedstock. The company said June 26 that the former 120 Mb/d oil refinery has increased rates to about 50 Mb/d as planned in Q2 2024.

CO2 Pipeline Project Receives Iowa Approval

Summit Carbon Solutions' high profile, Midwest Carbon Express, CO₂ transportation pipeline project was approved by the Iowa Utilities Board (IUB) Monday, 6/25. The 1,200 plus mile pipeline plans to collect and transport captured emissions from ethanol plants in the upper Midwest. Spa

U.S. Propane Inventories Build Slightly Above Expectations While Exports Take a Dive

The EIA reported total U.S. propane/propylene inventories built by 2.1 MMbbl for the week ended June 21, which was slightly above industry expectations for an increase of 1.86 MMbbl and on par with the average build for the week. This week’s storage is 7.6% lower than the same time last year.

Welcome to the Club! Positive FID for Cedar LNG on Canada’s West Coast

On June 25, Pembina Pipeline Corporation (Pembina) and the Haisla Nation (Haisla) made a positive final investment decision (FID) on the Cedar LNG project, lining up with prior announcements to determine FID by mid-2024.

Canadian Propane Stocks Have Spilt Personality, Tightness Partly Easing for Butane Stocks

Data reported by the Canada Energy Regulator (CER) for Western Canada’s propane inventories at the end of May (left hand chart in top figure below) were posted at 4.86 MMb, with an average seasonal build of 0.55 MMb versus April and stand 1.24 MMb (+34%) above the five-year average.

Alberto Helps Push U.S. Crude Exports to Lowest Since July 2023

Crude oil loadings across the U.S. Gulf Coast plummeted by 1.4 MMb/d, dropping to 3 MMb/d — the lowest level since mid-July last year. This significant decrease shifted the four-week moving average (dashed-red line in chart below) to 3.6 MMb/d.

Canadian Drilling – Oil Rig Count Holds Strong, Gas Still Struggling to Increase

As of June 21, Baker-Hughes reported that the Western Canadian gas-directed drilling rig count rose two to 57 (blue line in left hand chart below) and two less than a year ago.

Ethane Price Below Natural Gas for the First Time in 2024 – More Rejection on the Way?

After averaging a meager $2.09/MMbtu for the first five months of this year, Henry Hub natural gas prices have recovered due in part to strong power generation demand driven by hot weather, with June to date averaging $2.85/MMbtu. Higher gas prices are likely to encourage more ethane ‘rejection’,

DOE, EPA Offer $850 Million to Cut Methane Emissions From Oil, Gas Sector

The Department of Energy (DOE) and the Environmental Protection Agency (EPA) are offering $850 million in federal funds to help small oil and gas firms monitor, measure, quantify and cut methane emissions.

US Rig Count Down Slightly Led By Anadarko, Permian, Eagle Ford Losses

US oil and gas rig count declined for the third consecutive week, falling to 588 for the week ending June 21 according to Baker Hughes, a decline of two vs.

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