NGL prices went through their roughest patch since 2008, but questions still remain over whether the market’s recovery has begun or not.
Looking to future exports of natural gas and NGL for an answer to price woes may lead to disappointment, an analyst says.
University of Houston professor Craig Pirrong: The oil-linked standard for LNG no longer holds any water.
Rail capacity is being overwhelmed by propane shipments, which could cause the product to become competitive with resurgent gas prices.
The NGL barrel has lost more than half of its value in the past year. However, prices may have reached their floor.
The prospect of Iranian crude reaching global markets further dampens an oversupplied market, but long-term prospects remain solid.
Decreased WTI prices push heavy NGL prices down after experiencing a bump the previous week.
On Berthold-area land, 40,000 barrels per day will be processed. Estimated output is 18,400 barrels per day of gasoline, 13,200 of diesel #2, 5,600 of diesel #1 and 2,800 of AGO/bottoms.
A third crude distillation unit at Exxon’s Beaumont, Texas, refinery could make it the top refinery in the country, sources familiar with the matter said, Reuters reported.
The 22-member panel passed bill allowing United States to export oil and boost state revenue-sharing for offshore oil and gas drilling by a vote of 12 to 10, Reuters said.
Federal Railroad Administration now requires two qualified railroad employees to ensure that handbrakes and other safety equipment have been properly set on unattended crude oil or ethanol trains, Reuters said.
Enbridge Inc. is considering natural gas and power generation acquisitions to help boost the diversity of its asset base, the company's CEO said July 31, Reuters said.
Mier-Monterrey pipeline could carry about 1.340 billion cubic feet per day of natural gas. Existing pipeline will be looped from the Mexico-U.S. border to Huinalá, Nuevo León, Mexico.
By 2019, 8.5 billion cubic feet of LNG could leave market, affecting prices during very cold winters, Bloomberg new energy finance analyst and BNP Paribas’ commodity investor team director said.
Of the positions that will be eliminated 950 are in the Houston, where Chevron has about 8,000 employees.
Producers and operators are adjusting to new market dynamics as export demand replaces heating demand as the largest mover for propane prices.
The acquisition of private company RKI Exploration & Production adds 3,600 locations in the Permian Basin and continues WPX’s climb up in the oil producing ranks.
The MLP structure is still viable, Emily Hsieh, director of operations for MLP indexing firm Alerian, told Bloomberg. Recent Williams Cos.-Kinder Morgan Inc. consolidation efforts left investors questioning the model.
Marathon sponsored MPLX will purchase MarkWest for a 32% premium, creating the fourth largest MLP with a $21 billion market cap.
The need to store acid onsite is reduced due to plant safety improvement. E-FeX’s blend of ingredients replaces the most common uses of phosphorus in cooling water applications.
Part of the Houston Ship Channel is now open after it was briefly shut down while about 31 barrels of diesel in Greens Bayou were cleaned up, Reuters said.
Indian oil refinery complex operator Reliance invested more than $8 billion in its U.S. unconventional gas joint ventures through March, Bloomberg reported. It is considering sale in private matter.