** BP has announced plans to sell its petrochemical business to chemical giant INEOS for $5bn. BP said in a statement on Monday it had agreed the deal to sell part of its business that makes chemicals as a byproduct of oil refining. The sale is part of new chief executive Bernard Looney’s radical plan to remake BP for the …
June 29, 2020 archive
City to buy solar power in south central Arkansas
The south-central Arkansas city of Camden plans to buy solar electric power from a company that intends to construct a new solar farm near the city. The Camden News reports the city’s board of aldermen unanimously approved an amended contract with Scene Solar for the city and water department to buy the solar power …
Directors named at Oklahoma Turnpike Authority
The Oklahoma Turnpike Authority has set the members of its 2020 Board of Directors and has named Gene Love as its chairman. Over the next year, the board will meet once a month to discuss turnpike and transportation issues. The members of the 2020 OTA Board of Directors are: Gene Love, Chairman, Lawton; John D. …
Chesapeake Energy fights pipelines and FERC as part of bankruptcy filing
As part of its bankruptcy filing Sunday, Oklahoma City’s Chesapeake Energy also filed suit against the Federal Energy Regulatory Commission in an attempt to prevent two pipeline companies from interfering with the bankruptcy. The suit against FERC asks the bankruptcy court in Texas, where the legal filing was made on Sunday, to prevent legal …
Permits show drilling sites intended around Oklahoma
Oklahoma’s latest drilling permits show exploration will range from the western reaches of the Panhandle to the southern part of the state. Grand Mesa Operating Company obtained a permit to drill on land owned by the State Land Commission in Cimarron County at 04 5N 4E. The Iron Jacket #1-4 is at a site …
Could other energy firms follow Chesapeake into bankruptcy court?
The bankruptcy filing by Oklahoma City’s Chesapeake Energy, one of the largest bankruptcies of an energy firm in recent years has fueled speculation about other energy firms that could follow suit. Could there be a ripple effect? Three were cited in a report by the Motley Fool which cited shrinking liquidity on the part …
Chesapeake bankruptcy to affect other firms
Chesapeake Energy’s filing for bankruptcy on Sunday might be a way for the company to eliminate billions in debt, but for other companies in the energy service and pipeline industry, it’s worrisome. That’s because some of those companies are among those owed the billions in debt or have service contracts with the Oklahoma City …
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