The natural gas liquids supply glut in North America, which has caused lower propane market prices, has benefited Canadian firm Superior Plus. The company recently reported that its energy services division's gross profit during the first fiscal quarter rose 16% compared with the same period last year. "In particular, Superior anticipates that the reduced cost of wholesale propane, which has been attained for the past year, will continue in the foreseeable future, given the active drilling of liquids-rich natural gas, combined with limited infrastructure to transport this product to overseas markets," said President and CEO Luc Desjardins.

Related Summaries