The possibility of a ceasefire in Gaza resulted in weaker crude benchmarks on Friday. But as Reuters reported, the shrinking U.S. rig count cushioned the fall. Observers believe if peace talks are successful, it might convince Yemen’s Houthi rebels to allow oil tankers to pass unharmed through the Red Sea. West Texas Intermediate crude fell …
March 2024 archive
Matrix makes major construction contract with Belgium fertilizer firm
Tulsa’s Matrix Service Company just made a major deal to provide engineering, construction and industrial services to a Belgium company. Matrix did not reveal the financial content of the contract its subsidiary, Matrix PDM Enegineering made with Engicon nv headquartered in Harelbeke, Belgium. Under the memorandum of understanding, Matrix will provide total engineering, procurement and …
BlackRock fights back against Texas move to pull $8.5 billion in assets
While BlackRock escaped a ban in Arkansas over its ESG policies, it continues fighting last week’s move by the Texas State Board of Education to pull $8.5 billion in assets from the major investment firm. BlackRock, already banned in Oklahoma for allegedly discriminating against the oil and gas industry issued a statement saying …
Energy quick reads
** Maine’s top environmental regulator, the Maine Board of Environmental Protection rejected a proposed state electric vehicle (EV) mandate in a surprise vote, bucking climate concerns voiced by eco groups and Democrats. ** Minnesota company Carba is helping to slow down an overheating planet by pulling its solution right from the air. As detailed by the Star …
How much E-Junk do you have? It’s becoming a world problem
Imagine the old cell phones lying around some of your junk drawers. Or hand-held electronic games. They’re part of the nation’s and the world’s growing pile of what is called E-Junk…discarded refrigerators, old TVs and even e-cigarettes. A report by CNN showed how the E-Junk pile is growing five times faster than recycling rates …
Arkansas bans financial firms for discriminating against oil and gas industry
Six investment firms whose ESG policies are considered to be discriminatory against oil and gas have been banned from doing business with Arkansas state agencies. The Arkansas ESG Oversight Committee voted recently to prevent state investments with Credit Suisse, Goldman Sachs, Royal Bank of Canada, TD, UBS and Nomura and their asset …
Sixteen states including Oklahoma challenge Biden’s LNG permit freeze
Sixteen Republican attorneys general, including Oklahoma AG Gentner Drummond, filed suit against the Biden adminstration over the President’s freeze on federal permits for new LNG exports. Led by Texas and Louisiana, the states are demanding that the Energy Department reverse its ban announced in January. “This ban disregards statutory mandates, flouts the normal regulatory …
Oklahoma regulator picked to be VP of Southwest Power Pool group
Oklahoma Corporation Commission Chairman Todd Hiett has been elected vice president of the Regional State Committee of the Southwest Power Pool (SPP) and has accepted an invitation to join the Washington Action Program of the National Association of Regulatory Utility Commissioners (NARUC). The SPP is a regional power transmission organization responsible for the …
Crude oil ended weaker following Thursday’s trading
Weaker U.S. gasoline demand data led Thursday to a drop in crude oil prices. Adding to the pressure was a UN draft resolutlion that called for a ceasefire in Gaza. West Texas Intermediate crude for May fell 20 cents or 0.3% to $81.07 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude …
ConocoPhillips to release 1Q earnings report in early May
Make a note if you are an investor in ConocoPhillips. The oil and gas company plans to release its first quarter 2024 financial results before the market opens on Thursday, May 2. It will followup the release with a conference call on the same day at 11 a.m. central time where leadeers will …