The nation is set to lose another refinery. It’s the LyondellBassell Industries oil refinery in Houston, Texas. The chemical maker made the announcement on Friday that it would be shutting down operations at its 263,776 barrel-per-day refinery sometime in the first quarter of 2025. Investing.com quoted Lyondell refining chief Kim Foley that one of …
November 2024 archive
Treasurer reports drop in gross production tax revenue on oil and gas
Another sign of falling oil and gas revenue in the state….it came in the latest tax revenue release from Oklahoma Treasurer Todd Russ. At the same time, overall gross receipts also reflected a decline. In his October 2024 gross receipts report, the Treasurer showed a more than 14% drop in gros production tax …
Tribe fights proposed wind farm in Oklahoma’s McIntosh County
Construction isn’t expected for a few more years, but the Muscogee (Creek) Nation is fighting a planned wind farm by a Canadian firm in eastern Oklahoma near Eufaula. The wind farm consisting of 100 wind turbines will be built by TransAlta Corps., a Canadian firm already operating a wind farm in western Oklahoma. The …
Turnpike convenience stores at Vinita, Lone Chimney plan for short duration closures for rebranding to Maverik in early November
The Oklahoma Turnpike Authority’s concession partner Maverik plans a rebrand project at its convenience stores in Vinita off I-44/Will Rogers Turnpike and at Lone Chimney off US-412/Cimarron Turnpike in November. This will necessitate store and fuel closures; however, food service and restrooms will remain available to the public at the Vinita locations. The store …
Energy briefs
** Demand for green power in the United States will grow regardless of who is the country’s next president, major players in the wind energy sector Vestas and Orsted said on Tuesday, according to Reuters. ** Factory workers at Boeing voted to accept a contract offer and end their strike after more than seven weeks, clearing the way for …
New Mexico woman ordered to pay $3.5 million in royalties to Indian tribes
A northwest New Mexico woman has been fined and ordered to pay $3.5 million in royalties to Indian tribes that she hid over several years. Teresa McCown, 55, of Farmington, was the owner of M&M Production and Operation,Inc. and Shoreline Oil & Gas Company. She failed to file monthly reports and in effect kept …
Attorney General Drummond warns of contractor fraud after severe weather
Attorney General Gentner Drummond is urging Oklahoma residents to watch out for contractor fraud in the wake of this weekend’s severe weather. Drummond said the weeks following damaging storms and tornadoes are a common time for fraudsters to prey on those who suffered storm damage. “Even though it’s tempting to move quickly after sustaining property …
Slip in net earnings for ONE Gas in 3Q
ONE Gas recorded another fall in earnings in the third quarter compared to the second quarter of the year and the third quarter of 2023. The company quarterly report released this week showed net income of $19.3 million or 34 cents a share, down from the $25.2 million and 45 cents a share …
Buc-ee’s planning a second store in Colorado?
Another Buc-ee’s in Colorado? Could be, according to reports. While Oklahoma is an island surrounded by Buc-ee’s, the popular and fast-growing chain of stores, there are indications the Texas-based firm is interested in building a second such store in Colorado. We earlier had reported a second Buc-ee’s is in the works in Arkansas but …
Crude oil prices made big gains on Monday
Monday saw crude oil prices jump nearly 3% in trading. U.S. benchmark, West Texas Intermediate crude rose $1.98 or 2.85% to close at $71.47 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude gained $2.02 or 2.76% and finished the day at $75.12 a barrel on ICE Futures Europe. Natural …