RBN’s Daily Energy Blog and Insights sharpen your energy IQ through fundamentals-based analysis that makes sense of North America’s energy market dynamics.
The rapid buildout of Permian gas processing plants and other NGL-related infrastructure in Texas and southeastern New Mexico isn’t just continuing, it’s accelerating. In today’s RBN blog, we discuss the latest project announcements and why gas and NGL production in the Permian are still rising.
U.S. propane inventories continued to build in late May, rising 2.1 MMbbl to 83.3 MMbbl and remaining well above historical levels. Meanwhile, propane exports fell sharply from the prior week to 1.65 MMb/d, though volumes remained higher than the same week last year.
NATGAS Permian is a weekly natural gas fundamentals analysis focusing entirely on the key market drivers within the Permian basin. The report contains details and forecasts around natural gas production, demand, pricing, and a summary of pipeline outflows and capacities from the Permian to neighboring regions.
The U.S. propane market typically follows predictable trends. With much of domestic demand occurring in the colder months, storage builds in the summer and is withdrawn in the winter. But since mid-April, storage levels have increased by only 1.2 MMbbl. Today, we explore what is going on and why.
Fluor Corporation announced on June 1 that its joint venture with JGC Corporation, JGC Fluor BC LNG II, received a Limited Notice To Proceed” (LNTP) for the proposed Phase 2 expansion of LNG Canada.
As discussed in the Crude Voyager Report for the week ended May 29, exports out of the U.S. Gulf Coast (USGC) averaged 5.4 MMb/d, with strength seen across a number of terminals. In the Houston region, the Seaway Freeport Terminal recorded export activity for the seventh consecutive week. While only one Aframax cargo was seen, the terminal's seven-week streak represents its longest period of uninterrupted export activity since 2023, signaling a notable increase in utilization compared with the sporadic loadings observed in recent years.
After falling to its lowest monthly average since October 2023 in April, the U.S. propane-to-WTI crude ratio is showing signs of recovery. The ratio started June higher than May's average, as propane regained some ground relative to crude oil. While it's too early to call a sustained turnaround, the early June rebound bears watching.
U.S. LNG feedgas is climbing again as the maintenance season winds down. Cameron and Freeport appear to be bringing their respective offline trains back online.
Commissioning activity at Golden Pass and Corpus Christi Stage III continues to progress and U.S. LNG feedgas demand averaged 17.8 Bcf/d last week, up about 0.4 Bcf/d week-on-week.
The Future of Fuels bi-annual report by RBN's Refined Fuels Analytics provides an in-depth analysis of the U.S. and global refinery industries, focusing on crude oil and fuel market dynamics, supply and demand, alternative fuels, refinery capacities, and price forecasts to help stakeholders navigate the evolving energy landscape.
One of the most discussed and often misunderstood aspects of the midstream world is the pipeline open season. It is how midstreamers go out to the market to test shipper interest and lock in commercial commitments for new projects and can effectively determine whether a project will get built.
The price of natural gas remains negative at Waha. But movement in the forward curve suggests that the market is looking to a brighter future in the second half of the year.
As the Marcellus/Utica became the U.S.’s premier natural gas production region in the 2010s, a larger portion of its output headed out of the Northeast. An increasingly important part of the story has involved greater demand for gas from within the Northeast, especially the power sector.
