December 7, 2021 archive

Crude oil rally extended as prices climb 3% and settle above $70

  The easing of concerns about the Omicron coronavirus variant and its impact on global fuel demand resulted in an extended rally of crude oil prices as they settled above $70 on Tuesday for the first time in two weeks. Oklahoma energy stocks had another strong day too. Prices rose by more than 3% and …

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In September, the United States was at its lowest coal stockpiles since 1978

The government reported that coal stockpiles at electric power plants in the U.S. in September were at their lowest level since March 1978. The U.S. Energy Information Administration reported the total was 80 million tons. As U.S. coal plants have retired and remaining plants are used less, the country’s total coal stockpiles have declined. In …

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Oklahoma revenues grow thanks to increased oil and gas production

For a fourth consecutive month, Oklahoma’s gross production tax revenue from oil and gas was more than $100 million. Entering the holiday season, all major revenue streams in November rose by at least double digits, pushing Oklahoma Gross Receipts to the Treasury up by almost one-fourth compared to the prior year, State Treasurer Randy McDaniel …

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Ardmore to be home to Australian hydrogen operation

  Australia’s Woodside Petroleum is looking to expand its growing hydrogen portfolio into the US, with plans for up to a 550-megawatt facility in Oklahoma. Woodside revealed Tuesday it had secured a lease and option to purchase 94 acres of vacant land at the Westport Industrial Park in Ardmore, Oklahoma, which will help underpin the …

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Evergy’s EV plan approved by Kansas energy regulators

  While Oklahoma regulators prepared to consider a statewide EV charging station plan, their counterparts in Kansas gave the go-ahead to Evergy over its proposed expanded charging station network. The Topeka Capital Journal reported the plan to promote electric vehicles in Kansas won pre-approval at a cost to ratepayers. Evergy’s transportation electrification portfolio is highlighted …

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Wednesday energy news headlines

** Halliburton CEO Jeff Miller told the World Petroleum Congress this week in Houston that oil, gas underinvestment is bringing about period of market scarcity. ** Despite the company’s good year so far, Exxon’s coming pay raises for employees will come in below inflation, new reports suggest. Salaries are going to rise about 3.6% for employees who deserve …

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Nabors Industries announces energy transition initiatives

  Nabors Industries Ltd., the provider of advanced technology for the energy industry and with operations throughout Oklahoma announced new decarbonization goals. It joined the growing list of energy firms attempting to bring about reduced greenhouse gas emissions. The firm introduced Nabors Energy Transition Solutions (NETS), a fast-growing portfolio of technologies designed to drive energy efficiency …

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Windfall from oil and gas revenue boosts chances of New Mexico pay raises

  While Democrats in New Mexico deride their dependence on oil and gas revenue from the state’s share of the Permian Basin, they now are debating whether to use the latest surge in revenue for increased salaries for state workers including school teachers. As the Las Cruces Sun-News reported this week, New Mexico could end …

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Warmer weather collapses natural gas prices

  Some of the predicted higher natural gas prices aren’t happening, thanks to record-breaking warmer weather across the U.S. this month. The prices collapsed to their lowest level in more than four months and futures this week on natural gas for January delivery took a 12% nosedive reported Bloomberg. Click here for Bloomberg.  

Stuck jet stream brings warmer wx to Oklahoma et al

    Stuck in place for the next two weeks, the jet stream over the U.S. will bring warmer weather to Oklahoma and others in the lower 48 states. That means better weather for outdoor workers including utility crews, those on oil and gas rigs and those performing maintenance on wind farms in the state. …

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