In line with requests from industry trade organizations, FERC opted to maintain the current U.S. gas trading day start time of 9 a.m. Central time.
NGL demand was down this week as the Houston Ship Channel reopened and traders were no longer scrambling for extra volumes to meet end-of-month fulfillments.
While not every U.S. refiner may consider this a “golden age,” most would likely agree the environment is better now than it was only a few years ago.
“There are more opportunities and more excitement than ever in the Williston,” Hess Corp. COO Greg Hill told Hart Energy’s DUG Bakken and Niobrara Conference and Exhibition.
Despite WTI crude hitting its high price for 2015, NGL prices were largely flat as storage overhangs continue to negatively impact the industry.
The switch to summer-grade gasoline had a positive impact on heavy NGL prices despite flat WTI crude prices.
It is becoming clear that 2015 will be a “lost year” for crude oil, natural gas and NGL prices, but the hope is that it will be a minor blip.
Pierre Arcand, energy and natural resources minister for Quebec, Canada, said TransCanada’s decision scrapping Energy East marine terminal in Cacouna toughens the province’s evaluation of the project, Bloomberg said.
Global oil demand for 2015 is now seen rising by 1.1 million barrels per day (MMbbl/d) to a total of 93.6 MMbbl/d, thanks to a “steadily improving global economic backdrop.”
The pipeline is scheduled to be operational by late 2016. It would connect two Houston terminals, letting TransCanada’s Keystone and Marketlink shippers access Magellan’s Houston/Texas City crude distribution system.
Key North American Hub Prices: April 17, 2015
North Montney Mainline will initially ship about 2.4 billion cubic feet/day of natural gas. It will connect Montney Basin, other Western Canadian Sedimentary Basin supplies to new and existing markets.
Mexico’s commitment to realizing its energy potential through privatization and its National Infrastructure Program means major expansion, and investment, is ahead for the country’s midstream infrastructure.
Dan Revers, managing partner and co-founder of ArcLight, said the firm has a long track record of investing in refined products storage and pipeline infrastructure.
JP Energy Partners LP will acquire the assets of Southern Propane Inc. for about $14.9 million, Business Wire said. JP also announced plans for its Silver Dollar Pipeline system.
The money will support acquisition, development and operations of midstream, downstream petrochemical and fuel assets in U.S. and Canada. Next Wave handles NGL toll processing and manufacturing, among other projects.
The 270-mile Aegis Pipeline system will move purity ethane from Enterprise’s Mont Belvieu, Texas, liquids storage complex to petrochemical facilities in Texas and Louisiana.