NGL prices slump as doubt about OPEC’s production cut and a warm winter cast gloom.
Energy Transfer To Construct Fifth Fractionation Facility At Mont Belvieu
The long-term outlook for NGL is bright, even with last week’s declines.
Short-term NGL price jolts are ephemeral, but long-term plans carry risk as well.
BW Maple, with a total capacity of 82,000 cubic meters of LPG, was half-full when it collided near Chennai, India, with the Indian ship Dawn Kanchipuram on Jan. 28, Reuters reported.
U.S. refiners must adjust to a rapidly changing crude slate as downstream-facing midstream operators respond to maximize sourcing optionality.
Mozambique, which has vast offshore gas resources, awarded gas development projects to Norway's Yara International, Shell Mozambique and GL Energy Africa, the National Petroleum Institute (NPI) said on Jan. 30.
Higher demand remains a long-term certainty despite the volatile near-term NGL market.
Weather conditions, including high winds and blowing snow, are impacting cleanup efforts, the Iowa Department of Natural Resources said in an emailed statement, Reuters reported.
The terminal's combined distillate storage capacity—just over 1 million barrels—was exclusively leased by Sprague beginning in May 2014.
Polyethylene is a plastic used in many products, from food packaging and containers to automotive components. Ethane, a natural gas liquid, is the U.S. chemical industry's main feedstock.
During the Obama years, NGL prices recovered from the Great Recession.