One of the top shareholders in Tulsa’s Magellan Midstream Partners has come out against ONEOK’s $18.8 billion planned acquisition of the company. Energy Income Partners LLC, a 20-year old company that manages $5.1 billion, announced it intends to vote against ONEOK’s deal. It is the fourth largest shareholder in Magellan and has a 3% …
Category: Oil & Gas
False report sent crude oil prices tumbling
A false report that the U.S. and Iran might be close to a deal on oil exports sent crude oil prices falling more than $3 a barrel before the claim was denied by the White House and the price tumble was stopped. The phony report stated that the U.S. might ease some sanctions in exchange …
New Mexico to consider request of banning PFAS chemicals in fracking
The state of New Mexico is being asked to ban certain fracking fluids if they contain those PFAS or “forever” chemicals and the Oil Conservation Commission will consider the request. WildEarth Guardians filed the petition in response to a recent report by Physicians for Social Responsibility indicating oil companies used roughly 9,000 pounds of PFAS in …
Attorney General goes after what he calls “climate change crusaders”
Oklahoma Attorney General Gentner Drummond offered an explanation this week why he joined 18 other Attorneys General in launching a legal challenge to the EPA’s approval of California’s ban of diesel powered big trucks. “Extreme climate change crusaders are willing to do any amount of damage to the fossil fuels industry, regardless of the …
Petroleum storage tank rules to be discussed at upcoming meeting in Oklahoma
Oklahoma regulators plan to hold their annual Summer Industry Roundtable Meeting next week regarding the storage of crude oil. The Corporation Commission’s Petroleum Storage Tank Division will hold the meeting on Monday, June 12 at 1 p.m. The purpose of the meeting is to continue engagement with industry stakeholders, review areas where improvements can …
Investors to meet with Williams CEO in New York City
After taking part this week in a Reuters Global Energy transition conference, Williams President and CEO Alan Armstrong will prepare for yet another conference later this month. He and Chief Financial Officer John Porter will take part in meetings with investors at the 2023 J.P. Morgan Energy, Power & Renewables Conference. It will be …
Energy briefs
** Roaring wildfires burning across Canadian territories have delivered the types of poor air quality that some of the world’s largest, and most polluted, cities face on a daily basis. Smoke plumes from fires burning in the forests of eastern Canada have drifted to cities like Washington, D.C., New York and Philadelphia, sending them soaring to the …
ConocoPhillips to develop another Alaska oil field
ConocoPhillips, Alaska’s top oil producer, announced it plans to develop the Nuna field, a move that will add a predicted 20,000 barrels of oil to the state’s daily production. The company has held the small field since acquiring it in 2019 from Dallas-based Caelus. Drilling at Nuna is set to begin late next year, …
Two Williams Cos. pipeline projects to be finished in 2024
Expect Williams Cos. Inc. to finish two natural gas pipeline projects by the end of 2024 it has underway in New Jersey and Louisiana. It’s what CEO Alan Armstrong told Reuters at the Reuters Global Energy transition conference this week. One of them is the Louisiana Energy Gateway project in Louisiana and Texas which …
Big trading day for Oklahoma energy stocks while crude oil made more gains
Wednesday’s trading produced strong results of 5% and 6% gains for some Oklahoma energy stocks while crude oil prices rose 1%. Crude prices gained as Saudi Arabia’s plans for oil production cuts offset worried about rising U.S. fuel stocks as indicated by the Energy Information Administration’s reports on crude stored at the Cushing hub. …