Argus launches petroleum transportation service
HOUSTON, Sept. 28, 2012 /PRNewswire/ -- Global energy and commodity price reporting agency Argus has launched a dedicated petroleum transportation service for North American markets. The new weekly report, Argus Petroleum Transportation North America, provides unique market data and intelligent analysis of the increasingly complex market to move crude, refined products, and gas liquids by rail, barge, tanker and pipeline.
Growing North American petroleum production, particularly from onshore shale and tight oil formations spanning the continent, as well as oil sands projects in western Canada, is reshaping infrastructure at a rapid pace. Companies are scrambling to build or repurpose pipelines. Alternative transportation such as rail has become commercially viable because of commodity price disparities and because of the wide dispersal of shale discoveries.
Output is rapidly rising in areas new to large-scale petroleum production. Oil produced from the Eagle Ford shale of south Texas is moving by Jones Act tanker to the Atlantic coast. Railcars are shipping oil from the Bakken shale of North Dakota to the three main US coastal regions. Numerous projects are seeking to absorb growing northeast US ethane production, including export facilities and a proposed large petrochemical plant in Pennsylvania.
Companies bringing production to market must consider factors such as rail diesel costs, railcar availability and lease rates, access to US Jones Act-compliant tankers and space on pipelines, which often ration capacity.
The new Argus service assesses rail rates, railcar lease costs, and barge and tanker rates on the major and emerging transportation routes. In-depth survey articles and news stories cover the rapidly changing infrastructure environment throughout North America.
"We are glad to add Argus Petroleum Transportation North America to our range of energy and transportation services. We have worked closely with the industry to develop a service that can meet the growing need for market data and analysis in the North American petroleum transportation sector," Argus Media chairman and chief executive Adrian Binks said.
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Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.
Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.
SOURCE Argus Media