Despite WTI crude hitting its high price for 2015, NGL prices were largely flat as storage overhangs continue to negatively impact the industry.
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.
NGL prices experienced a rebound as WTI crude prices moved up on the back of several fundamental changes.
The switch to summer-grade gasoline had a positive impact on heavy NGL prices despite flat WTI crude prices.
Brian Tanner was appointed as vice president of investor relations and corporate communications at Overseas Shipholding Group Inc. He has experience in investor relations, equity research and corporate finance.
ExxonMobil Corp. will pay more than $5 million, including a federal fine, in settlement for 2013 Pegasus Pipeline rupture in Mayflower, Arkansas, that carried oil sands from Canada, Bloomberg said.
Export proponents say many U.S. refineries are not designed to handle crude oil produced from new domestic shale plays, Bloomberg said. Several companies urge easing of government restrictions.
Key North American Hub Prices: April 24, 2015
Norwegian energy powerhouse’s plan while commodity price woes persist is to prudently seek opportunities to reinforce its upstream-oriented global position.
Central Area Transmission System’s riser platform is next to Everest platform, Block 22/10. Pipeline connects riser platform to Seal Sands, Teesside, gas terminal. CATS transports 8% of UK’s gas demand.
With the recent start-up of the latest LPG export facility, Mariner South, the U.S. Gulf Coast has the infrastructure to support LPG exports of around 20 million barrels per month, most of which is propane.
Vanguard buys LRR Energy’s Permian and Arkoma assets, including 1,290 gross producing wells and about 158,000 net acres. LRR’s proved reserves were about 203 Bcfe in December 2014.
Shifts in U.S. LPG supply and demand patterns are having wide repercussions on global trade dynamics.
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.