For crude prices to average $50 to $52 in 2017, OPEC must extend quotas and maintain compliance, and demand must increase, according to a report.
NGL prices continue to rally, with optimism about ethane’s outlook.
U.S. shale production in May was set for its biggest monthly increase in more than two years as producers stepped up their drilling activity with oil prices hovering at over $50 a barrel.
NGL prices rise, positioned for volatility and tighter balances later in the year.
Enterprise Products Partners L.P. (NYSE:EPD) said April 13 that combined exports and imports of hydrocarbons across its marine terminals, including 18 deepwater docks along the Texas Gulf Coast, totaled a record 146 million barrels on a gross basis during the first quarter of 2017.
Calgary-based Pembina Pipeline Corp. said it plans to develop a west coast liquefied petroleum gas (LPG) export terminal on Watson Island in Prince Rupert, B.C.
Enterprise Products Partners will build a new 571-mile pipeline to transport growing volumes of NGL from the Permian Basin to an NGL fractionation and storage complex in Mont Belvieu, Texas.
OPEC production cut plans serve up a potentially volatile year.
Storage tank repurposing, new pipeline in Texas drive company’s expansions.
Other projects include a Permian NGL pipeline.
As higher prices encourage more production of crude oil, Morgan Stanley experts see associated output of natural gas dragging down its price.
The Nederland terminal on the Sabine-Neches waterway between Beaumont and Port Arthur, Texas, provides area customers with about 26 million barrels (MMbbl) of crude and 1 MMbbl of NGL aggregate storage capacity.