October 11, 2024 archive

US puts sanctions on trading of Iranian oil over missile attack on Israel

    We will have to wait to see what this does to crude oil prices on Monday, but late Friday, the U.S. imposed sanctions on companies and ships that allegedly deal in trading and transporting Iranian oil. The sanctions, adopted after Iran’s recent missile attack on Israel, were implemented too late to affect Friday’s …

Continue reading »

Crude oil prices finished the week with a drop

Crude oil prices finished down on Friday as a number of factors played a part in the slide. There of course was Hurricane Milton’s impact on fuel demand after the storm pounded Florida. Then, there is still what might happen in the Middle East where investors wonder whether Israel might attack Iran’s oil industry over …

Continue reading »

Feds probe hydrogen sulfide leak that left 2 dead at Pemex refinery near Houston

  The release of hydrogen sulfide that killed two workers Thursday at the Pemex petroleum refinery in Deer Park, Texas has come under investigation by a federal agency. The U.S. Chemical Safety and Hazard Investigation Board said it had launched an investigation. Two contract workers died in the incident and another 13 others were transported …

Continue reading »

Rig counts in Oklahoma and US bounced back in past week

(REUTERS/Nick Oxford/File Photo)   Oklahoma gained back an oil and gas drilling unit in the past week to record a total of 41 active rigs, according to the latest Baker Hughes Co. rig count released on Friday. The 41 compared to 37 rigs reported a year earlier.  It also helped increase the nation’s rig count …

Continue reading »

Ovintiv Inc. to release 3Q earnings in early November

    Investors in Denver-based Ovintiv Inc. will learn early next month whether the company topped the $340 million in net earnings it recorded in the previous quarter. The energy firm plans to release the report after the close of the market on Thursday, Nov. 7 and follow it with a conference call the next …

Continue reading »

Federal Bank survey shows fall in energy activity in Oklahoma and others that make up the Tenth District

  It’s not the kind of news the oil and gas industry wants to read, but the Federal Reserve Bank of Kansas City released the third quarter Energy Survey showing a decline in energy activity in the Tenth District that includes Oklahoma. “District drilling and business activity posted a decline for the seventh consecutive quarter …

Continue reading »

Kiamichi River power project denies ties to Red China

    In a recent interview, the man behind the controversial proposed hydro-electric project on the Kiamichi River in southeast Oklahoma claimed electricity would be produced for Oklahoma and Texas electrical grids. He also denied any ties to the Chinese government. Click below for News on 6’s Tess Maune report. Oklahoma’s Own In Focus: Plans …

Continue reading »

Energy briefs

** Hurricane Helene flooding could push Appalachia utilities to rethink the region’s power grid, described by one official as a “really far-flung set of distribution lines going up into the hills and serving different communities.” ** Vice President Kamala Harris criticizes Donald Trump for attacking the federal response to Hurricanes Helene and Milton, suggesting he’s trying …

Continue reading »

Drought impact grows across Oklahoma

Yes, cooler weather is in next week’s forecast, but the heat of the past few weeks only added to Oklahoma’s expanding drought. Oklahoma Climatologist Gary McManus with the Oklahoma Mesonet recently wrote that conditions “are increasingly bad.” “It’s not a hurricane, and our hearts go out to those suffering in the Southeast, but we are …

Continue reading »

New Mexico’s governor wants to take educational advantage of oil and gas money

  New Mexico Gov. Michelle Lujan Grisham has been critical of her state’s oil and gas industry at times, but not when she was part of a panel at the New Mexico Oil and Gas Association’s recent annual meeting. Instead, she used the occasion to stress the importance of educational development in New Mexico, something …

Continue reading »