Feds move to foil banking discrimination of energy

  The nation’s banking regulator, the Office of the Comptroller of the Currency is proposing rules to foil efforts of big banks to refuse lending to coal and oil and gas. The proposal came months after a letter was sent to President Trump by Oklahoma U.S. Senators Jim Inhofe, James Lankford and others complaining of …

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Alliant to bring solar battery storage unit online in Iowa

While NextEra Energy is building Oklahoma’s first battery storage operation near Marlow, Alliant Energy’s battery storage facility in northern Iowa is expected to go on line yet this year. It’s under construction near Decorah, Iowa where the Decorah News reported Alliant wants to test whether the backup power supply batteries can handle excess electricity generated …

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Oklahoma jobless rate moved up in October

  More jobs were lost in October in Oklahoma and that includes those in the state’s energy sectors according to the latest report from the state. The Oklahoma Employment Security Commission announced the October unemployment rate reached 6.1% in October, up from the 5.4% reported in September. The October rate was also higher than the …

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Energy stocks took it on the chin in Friday’s trading

Crude futures ended up in Friday’s trading but Oklahoma energy stocks weren’t so lucky. Some fell as much as 8%. West Texas Intermediate crude for December contracts rose 41 cents to settle at $42.15, a nearly 1% increase. Global benchmark Brent crude finished at $44.96 after a 76 cent climb and a gain of 1.72% …

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Steel forests of stored oil and gas rigs continue to grow across the country

  The latest Baker Hughes rig count released on Friday showed a decline of two to 310 rigs. The report differs from the Enverus report released a day earlier which said its data showed an increase of 11 rigs across the country to reach a total of 381. Baker Hughes reported the number of oil …

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COVID’s keeping gasoline prices down

  The growing COVID-19 restrictions for Thanksgiving has not only resulted in increased crude oil storage but kept gasoline prices fairly stable in the past week. Oklahoma’s average over the weekend was $1.80 while the national average was $2.11 per gallon for regular gasoline, according to the American Automobile Association. The state average was down …

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Devon and WPX file merger proxy statement with SEC

  Leaders of Devon Energy and WPX Energy have filed a joint proxy statement with the SEC as the two Oklahoma energy companies prepare for their announced merger. The proxy filing did not set a date nor time for a shareholders meeting of each company. The meetings will be virtual because of the COVID-19 pandemic. …

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Phillips 66 adopts Google Pay at its gas pumps

  Phillips 66 is launching a new way of paying for gasoline at its 7,000 sites across the U.S. Drivers will be able to use Google Pay at Phillips 66, Conoco and 76 branded stations. The company announced it has worked with P97 Networks, considered a leader in cloud-based mobile commerce. As a result, it …

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Oklahoma oil patch veterans create new Denver oil company

  Even as COVID-19 continues hammering the nation’s oil and gas industry, someone sees enough light in the tunnel to dare to create a new oil and gas company and start making acquisitions of producing assets. They are veterans of Oklahoma’s oil patch. Newly formed FourPass Energy, LLC in Denver announced a partnership to acquire …

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Halliburton commits to greenhouse gas reductions

  Halliburton Company announced its commitment to set science-based targets to reduce greenhouse gas (GHG) emissions. The company submitted its commitment letter to the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature. With this commitment, Halliburton will submit targets in 2021 …

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