New Mexico wants new rules perhaps putting more restrictions on ground water use by the oil and gas industry. Its Environment Department recently announced a move to petition the Water Quality Control Commission to begin formal deliverations on the proposed rules, according to the Associated Press. The rules will focus on salty byproducts of …
January 2, 2024 archive
Crude oil starts New Year on a down note
US crude oil prices started 2024 with a loss and so did the global benchmark, thanks to an ease in concerns about supplies being disrupted by Houthi attacks in the Red Sea. West Texas Intermediate crude finished down $1.27 or 1.8% to $70.38 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude …
Brent crude oil prices averaged $19 per barrel less in 2023 than 2022
The price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding. Global markets adjusted to new trade dynamics, with crude oil from Russia finding destinations outside the EU, and global crude oil demand fell short of expectations. Those dynamics offset the impacts from OPEC+ …
OSU Water conference to be held Jan. 18
The Oklahoma Water Resources Center’s monthly water seminar series called “Water You Talking About?” will take place on the third Thursday of every month from 12 p.m. to 1 p.m. Each month the center will feature a new researcher or water professional to share their research, discuss research needs, and identify opportunities for collaboration. The …
Correction
Our mistake. The recent announcement of the addition of 100 jobs in Bartlesville by Lincoln Electric did not involve Lincoln arc welders. Lincoln Electric Products Company, based in New Jersey will expand operations to northeast Oklahoma.
Oil leader predicts 5 billion barrels of Bakken oil to be produced this year
Captured CO2 for enhanced oil recovery could see North Dakota reach 5 billion barrels of Bakken oil this year. If so, that’s good news for Bakken leader Continental Resources of Oklahoma City. It’s the prediction of Ron Ness, President of the North Dakota Petroleum Council. “In mid-2024, we’re going to reach 5 billion barrels …
New EV tax credit rules trims list of those eligible
New rules took effect Jan. 1 under the Biden administration, reducing the number of electric vehicle models eligible for consumer tax credits up to $7,500. The number of such vehicles fell from about two dozen to 13 based on narrower criteria according to federal information from fueleconomy.gov. EVs that use battery components made by …