A new “age of gas” may be dawning in the worldwide energy industry that will alter assumptions about supply, demand and cost, a GE Oil & Gas economist told the INGAA Foundation at its annual meeting.
Saudi Arabia’s mandate to continue crude production even as prices fall below $80 per barrel could have long-term impacts on U.S. markets.
Despite two major power plant retirements, heating and power generation options for the taxed New England market are expected to improve this winter due to lower oil prices, according to a Morningstar Commodities Research report.
Though natural gas and NGL prices have been decoupling from oil prices for the past several years, the sudden downturn in crude prices have pulled the entire hydrocarbon sector down with it.
Colder temperatures and snowfall drove heating demand and improved gas prices, but NGL prices dropped through mid-November.
Crude oil prices continue to fall as geopolitical issues impact both the West Texas Intermediate (WTI) and Brent markets. The WTI price fell below $75 per barrel (/bbl), nearing a level that could halt some U.S. unconventional production.
NGL prices continued to suffer in the final week of October, while West Texas Intermediate crude prices held at about $80 per barrel.
A joint venture between Tesoro Refining & Marketing Co. LLC and Savage Cos., Vancouver Energy is a proposed crude oil terminal to be located at Port of Vancouver USA.
Phillips 66 and Energy Transfer Partners LP plan to launch a binding open season to assess interest in committed service under local tariffs for crude oil pipeline transportation.
Hiland Crude LLC launched an open season to solicit shipper commitments for expanded capacity of Hiland’s Double H crude oil transportation system.
TransCanada Eyes Crude-By-Rail Business
Crestwood Equity Partners LP and Crestwood Midstream Partners LP announced that Crestwood Equity entered into definitive agreements to sell 100% of the membership interest in Tres Palacios Gas Storage LLC.
Southcross Energy Partners LP acquired a natural gas gathering system in McMullen County, Texas, the company said in a statement.
Key North American Hub Prices: November 21, 2014
Navitas Midstream Partners LLC executed a long-term, fee-based agreement with an investment- grade independent producer to provide gathering and processing services in the northern Eagle Ford Shale in Brazos and Grimes Counties, Texas.
Lone Star NGL LLC, the joint venture between Energy Transfer Partners LP and Regency Energy Partners LP, will construct a 533-mile, 24- and 30-inch diameter NGL pipeline from the Permian Basin to Mont Belvieu, Texas.
The midstream’s job today amounts to nothing less than “repiping North America,” according to a wide-ranging midstream panel discussion featured at the INGAA Foundation’s 2014 annual meeting.
BP plans to invest more $200 million to upgrade its purified terephthalic acid (PTA) plants at Cooper River, S.C., and Geel, Belgium, the company said in a statement on Nov. 17.
Shell Chemical LP exercised its option to acquire land in Monaca, Pa., which could be used to build a $4 billion world-scale ethane cracker in the heart of the Marcellus Shale, from Horsehead Holding Corp.
Williams Partners LP announced Oct. 29 it expects its expanded Geismar Olefins plant to begin manufacturing ethylene for sale in November. That time line is consistent with the financial guidance the partnership provided in July.
North Dakota Gov. Jack Dalrymple and Badlands NGL’s LLC’s chairman CEO, William Jeffrey Gilliam, announced that a new polyethylene (PE) manufacturing facility will be built in North Dakota.