Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
According to the EIA, the average U.S. residential price of propane reached $2.59 per gallon as of October 4, 2021, the highest price reported for the first week of the winter heating season since 2011
Even though there was a slight dip in rig count week over week we are seeing good signs of investment in the oil patch. We expect to see rig count to continue to increase year over year particularly in Canada
With Enbridge line 3 running in full force and a number of planned producer outages in Alberta out of the way it will be interesting to see where basis numbers settle out and what new pipeline appropriations will be come November 1st.
Output has grown sequentially for six straight months. Total output in August 2021 was the highest since December 2019, meaning it’s back above where it was immediately prior to the pandemic.
Not only is Europe in trouble meeting the peoples energy demands China has its hands full right now and their economy may be contracting – China’s factory activity unexpectedly shrank in September due to wider curbs on electricity use and elevated input prices. A shortage of coal, tougher emissions standards and strong demand from manufacturers and industry pushed coal prices to record highs and triggered widespread curbs on electricity usage in at least 20 provinces and regions in China.
Concoco Phillips – Is betting big on U.S. oil, buying Shell’s Permian assets for $9.5B. This will effectively make it the second biggest oil producer in the lower 48, now trailing only ExxonMobil.
Well folks, the battle over shutting down Line 5 seems like it will never be over. Michigan Attorney General, Dana Nessel,
China is releasing Crude oil from its strategic petroleum reserves – In a statement on Thursday of last week, the National Food and Strategic Reserves Administration said the country had tapped its giant oil reserves to “to ease the pressure of rising raw material prices.
New railcar orders improved to 9,500 units in the second quarter of 2021(versus 6,200 in the first quarter of 2021) and the backlog increased 8% sequentially to 37,500 units. Overall, orders improved and are now around replacement levels
New railcar orders improved to 9,500 units in the second quarter of 2021(versus 6,200 in the first quarter of 2021) and the backlog increased 8% sequentially to 37,500 units. Overall, orders improved and are now around replacement levels