Energy news in brief

** President Biden announced Tuesday that the U.S. would double its financial contributions to help developing nations combat and adapt to climate change. ** The Environmental Protection Agency has finalized the first major step taken under President Joe Biden to curb climate change, releasing new regulations to phase down the use of a potent greenhouse gas used in …

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Whopping $36 million fine against North Dakota pipeline operator

North Dakota pipeline operator Summit Midstream Partners admitted this week to criminal water pollution charges and agreed to pay a $36.3 million fine. The firm pleaded guilty in federal court in Bismarck, North Dakota in a case that prosecutors called the largest-ever land-based spill from oil drilling reported Reuters. The company admitted it was criminally …

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Oil-worker transport firm to buy electric helicopters

  A major aircraft firm that ferries oil workers to offshore platforms in the Gulf of Mexico is considering the purchase of 50 electric-powered helicopters. Bristow Group Inc., based in Houston already pre-ordered 25 of the new 4-passenger, zero-carbon operating emission aircraft with an option to buy 25 more from Vertical Aerospace Group Ltd, reported …

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Reports indicate Biden will cut biofuel requirements

  Reports that the Biden administration is thinking of making big cuts to the U.S. biofuel blending requirements already had an effect on the industry. After Reuters reported the news, credits used to prove compliance with the requirements, called RINs, fell to 92 cents each, down from $1.07 in the previous session, traders said. “If …

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ConocoPhillips becomes Permian’s No. 2 producer after Shell deal

  Bloomberg reports ConocoPhillips’s purchase of Royal Dutch Shell Plc’s Permian assets will make it the second-largest producer in the world’s top shale basin, according to data from Enverus. It also leaves Devon Energy as the 8th largest producer in the Permian. Click here for Bloomberg.

Williams awaits production to resume in the Gulf

  Williams Companies Inc. indicated it is ready and waiting to receive natural gas from the offshore platforms in the Gulf that had been shut down because of damage from Hurricanes Ida and Harvey. The storm damage is still affecting numerous operations along the Gulf. Many suffered power outages and operations are stalled. Shell is …

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Crude oil prices rebounded Wednesday–so did OK energy stocks

  With U.S. crude oil stocks at their lowest levels in three years, prices rebounded in Wednesday’s trading and Oklahoma energy stocks enjoyed the ride up as well. U.S. West Texas Intermediate crude futures finished up $1.74 or 2.5% settling at $72.23. Global benchmark Brent crude also rose 2.5% with a $1.83 increase to finish …

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ONEOK announces major GHG reductions by 2030

  ONEOK, Inc. announced a companywide greenhouse gas (GHG) emission reduction target stating it expects to achieve an absolute 30% reduction of its emissions by 2030. The reduction would be compared with the 2019 base-year levels and apply to the company’s Scope 1 and Scope 2 emissions. The 30%, according to the announcement would amount …

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Sen. Inhofe wonders if EV industry is creating more superfund sites

  As the nation gets on board the rolling movement of renewable energy, it’s also clear Oklahoma U.S. Sen. Jim Inhofe has many reservations and questions about what to do with disposable pieces of wind energy production and electric car batteries. He focused on its during a Wednesday Senate Environment and Public Works Committee hearing …

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Devon Energy announces 3Q earnings report schedule

Oklahoma City-based Devon Energy Corp. announced it will report third-quarter 2021 results on Tuesday, Nov. 2. and investors will learn whether company leadership was correct in predicting more financial growth and strength. The release will be made after the close of U.S. financial markets. The earnings release and presentation for the third-quarter 2021 results will …

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