Oil prices shot up after terrorist attack

  A missile attack on an oil distribution facility in Saudi Arabia sparked crude prices to increase to more than $120 a barrel at one point in Friday’s trading before prices settled for the day. West Texas Intermediate crude for May delivery rose $1.56 or 1.39% to settle at $113.90 a barrel on the New …

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Baker Hughes reports rig activity growth in U.S.

  While one company reported a large drop in rig numbers in the U.S., another, Baker Hughes, said there was a gain of 7 rigs in the past week across the country to reach a total of 670. Earlier, Enverus Rig Analytics reported a drop in the nation’s oil and gas rig count. The Baker …

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Tenth District manufacturing activity grew at a record pace in March

  Factory activity in Oklahoma and other Midwestern states increased at a record pace this month according to the March Manufacturing Survey released by the Federal Reserve Bank of Kansas City. But Chad Wilkerson, vice president and economist at the Federal Reserve Bank said there was also a catch to that record pace. ““However, due …

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Kansas nuclear power plant targeted by Russian hackers

  Newly released government documents show Russian hackers targeted a nuclear power plant in Kansas over the past several years. Fox 4 News in Kansas City reports two indictments that were returned in August were recently unsealed by the Department of Justice. Click here for Fox 4 News

Utility accuses New Mexico regulators of not following state law

  Public Service Company of New Mexico is standing up to the state’s utility regulators, arguing they didn’t follow state law in denying the utility’s request to abandon the Four Corners Power Plant. The Santa Fe New Mexican reports PNM filed documents making the claim against the Public Regulation Commission. Click here for Santa Fe …

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Other energy headlines

** Environmentalists urge the U.S. Interior Department to block a ConocoPhillips Arctic drilling project, saying it doesn’t mesh with the Biden administration’s conservation goals. ** Environmental groups sue the U.S. Fish and Wildlife Service, saying oil and gas development is driving a California lizard to extinction. ** California Gov. Gavin Newsom proposes an $11 billion gasoline-price relief package that would include a …

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Crude prices slipped as EU leaders couldn’t agree on total Russian boycott

  A failure by the European Union to agree on a plan to boycott Russian oil led to a 2% fall in crude prices in Thursday’s trading but prices still ranged from $112 to $119 a barrel in the US and overseas. All the while, Russian troops are mired in growing fighting with Ukrainian forces. …

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Occidental to build carbon removal plant in Permian

  The Permian Basin in West Texas and southeast New Mexico is expected to be the site of a carbon capture plant, courtesy of Occidental Petroleum Corp. The company plans to spend up to $300 million on the industrial-scale operation reported S&P Global. Click here for S&P Global

Devon Energy investors await 1Q report in May

  The first quarter earnings report by Devon Energy Corp. will be released in early May and no doubt a lot of investors and analysts will be watching closely to see if the energy company will be able to top what it did in the fourth quarter of 2021. The company announced this week it …

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Inhofe points to Biden for higher gasoline prices

  Even though he’s retiring after a long stint in the Senate, it doesn’t mean Oklahoma U.S. Sen. Jim Inhofe doesn’t want to hold the Biden administration responsible in part for high gasoline prices. During a hearing this week of the Environment and Public Works Committee, the Senator was pointed in his questions of witnesses …

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