US ethane production rises to record: EIA

Market: LPG
31/08/20

US ethane field production rose to a record high in June as producers moved to recover more product late in the second quarter.

Ethane output rose to 2.1mn b/d, a 14pc increase from the prior record 1.8mn b/d produced in May and a 16pc increase from the previous June, the Energy Information Administration (EIA) reported today in its monthly data.

Production fell sharply in March and April as shut-in natural gas wells reduced output of associated gas. By late May, rising prices supported recovery of more ethane from the gas stream. Mont Belvieu, Texas, EPC ethane averaged 12.97¢/USG in April, before rising to 22.36¢/USG in May and 21.88¢/USG in June.

Ethane inventories also rose, climbing to 52mn bl in June, up 9pc from the previous month, but a 14pc drop from the 60mn bl reported in June 2019. June ethane exports of 308,000 b/d were up by 3pc from May and up by 12pc from June last year.

US butane exports stood at 301,000 b/d in June, down from 352,000 b/d last month and up slightly from the 296,000 b/d during the same month last year. June butane exports mainly went to destinations in Indonesia and South Korea.

Butane stocks stood at 55.4mn bl in June, up by 20pc from May when production fell sharply, but down from 58.2mn bl of inventories in June last year.

The US produced 13.4mn bl of butane in June, down from 13.8mn bl in May, but up from 12.7mn bl last June.

By Marialuisa Rincon and Kelly Strickland

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29/10/24

LPG bunker demand lags despite competitive pricing

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Brazil's LPG market seeks alternatives: Correction

29/10/24

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29/10/24

Brazil's LPG market seeks alternatives: Correction

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Pennsylvania drilling drops to 17-year low

25/10/24

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25/10/24

Pennsylvania drilling drops to 17-year low

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Range sees 6pc gain in realized 3Q NGL pricing

23/10/24

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23/10/24

Range sees 6pc gain in realized 3Q NGL pricing

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CSX forecasts softer 4Q rail demand

17/10/24

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17/10/24

CSX forecasts softer 4Q rail demand

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Rail coal volume fell by 2pc from a year earlier, while revenue dropped by 7pc to 553mn st. Total CSX profits rose to $894mn, up by 8pc compared with third quarter 2023. Revenue increased to $3.6bn, up by 1pc. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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