PROPANE MARKET ANALYSIS

Market News

Key Developments:

• In April 2019, UGI Corporation and AmeriGas Partners, L.P. entered into a merger agreement under which UGI will fully consolidate its ownership of AmeriGas, the nation’s largest retail propane marketer, by acquiring the 69.2 million publicly held common units it does not already own.
• In Aug 2018, PetroChina Corporation Limited showcased its ability to successfully take lead on a major overseas oil development. The company obtained a sub-contractor petroleum production license for the Halfaya oil field in Southeast Iraq. It was also stated that this Halfaya oil field will be pumping out 400,000 barrels of crude per day, along with gases such as propane.
• In June 2003, subsidiaries of Valero Energy Corporation and Valero L.P. have entered into a five-year agreement with MGI Supply Limited, a subsidiary of Pemex-Gas y Petroquimica Basica, to supply and ship 5,000 barrels per day (BPD) of propane to Northern Mexico.