Oklahoma Congressman Markwayne Mullin and another Republican member of the House are asking for a congressional investigation of what they contend is the Biden administration’s mismanagement of the nation’s Strategic Petroleum Reserve. Rep. Mullin, a member of the House Energy and Commerce Committee joined Energy Subcommittee GOP Leader Fred Upton of Michigan in sending …
July 19, 2022 archive
Texas makes gains in oil and gas industry employment
Employment has grown in the oil and gas sector in Texas compared to its low point in September 2020, an increase that has industry leaders hoping the industry will continue to see growth. The Institute for Energy Economics and Financial Analysis issued a report showing the new figures reported RigZone. Click here for RigZone
Total revenue up but net income was down in 2Q for Halliburton
Halliburton Company reported a second quarter drop in net income compared to the first quarter of the year, indicating income totaled $109 million or 12 cents a diluted share. The company said it was down from the first quarter net income of $263 million or 29 cents a share. Halliburton’s adjusted net income for the …
Permian’s oil output to hit record amount in August
If the U.S. Energy Information Administration’s prediction is true, then a record amount of crude oil will be produced next month in the Permian Basin. Gains will also be made in the Anadarko Basin. The EIA said the shale basin, the largest in the nation, is due to see oil output to increase by …
Evergy says it has sufficient power during extended heat wave
The largest electricity-supplier in Kansas, Evergy indicated this week it anticipates no problems providing enough electrical power to consumers as they suffer through record-high temperatures. KSAL Radio reported the utility said it has sufficient power to meet the anticipated demand. Click here for KSAL news
Force majeure declared over Keystone pipeline vandalism
What happened recently to TC Energy’s huge Keystone pipeline that stretches across the U.S. and through Oklahoma enroute to the Gulf Coast refineries might make a case why the Keystone XL pipeline was needed in the U.S. What happened was this. Just as President Biden pitched Saudi Arabian leaders to increase the flow of …
Record highs could mean record electricity demand
With a Tuesday high of 110 degrees predicted in Oklahoma and even higher readings in nearby states, record electricity-demand is also in the forecast. So far, Oklahoma’s grid operator, the Southwest Power Pool, has not taken any drastic steps to encourage utility customers to curtail their demand for more electricity in order to cool …
Buffett increases holdings in Occidental Petroleum
Warren Buffett’s desire to acquire Occidental Petroleum reached another plateau this week as his Berkshire Hathaway company dumped another $122 million into the company shares. It means the Omaha-billionaire now owns 19.4% or 3% more than he did at the beginning of March when he launched his takeover attempt. Reports indicate Berkshire also has …
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