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.
Reports give insight into current low crude prices.
NGL prices took a large downturn as they followed the downward trajectory of West Texas Intermediate (WTI) crude prices, which fell to their lowest levels in several years just above $80 per barrel (/bbl).
Softening crude prices, regulatory uncertainty at issue.
NGL prices continued to suffer in the final week of October, while West Texas Intermediate crude prices held at about $80 per barrel.
While the rest of the NGL barrel (bbl) has experienced price depreciations related to the shoulder season and decreased values for West Texas Intermediate (WTI) crude oil, propane prices improved the first week of October based on seasonal and LPG export demand.
Magellan Midstream Partners LP announced that it will proceed with the recently announced Saddlehorn Pipeline.
Rex Tillerson gave Asia Society luncheon attendees insight into North America’s role in the changing global energy landscape.
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.
TransCanada Corp. filed a formal project application for the Energy East Pipeline project with Canada’s National Energy Board.
Key North American Hub Prices: October 31, 2014
PennEast Pipeline Co. LLC announced that Spectra Energy Partners has joined in the development of its PennEast Pipeline.
Energy Transfer Partners LP (ETP) announced it secured additional long-term binding shipper agreements on its Rover Pipeline project.
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.
ONEOK Partners LP agreed to acquire NGL pipelines and related assets from Chevron Corp. affiliates for about $800 million.
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.
Prices in the global petrochemicals market kept falling in September.
LyondellBasell announced that it is considering a further expansion project at its Channelview, Texas, petrochemical plant.