A report from the U.S. Energy Information Administration points out how U.S. gasoline prices were more than 20 cents lower in 2024 compared to the previous year. As Oklahoma prices average $2.56 per gallon this week, the EIA stated the U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, …
January 2025 archive
Could Russia’s loss of natural gas through Ukraine benefit Oklahoma?
Could Ukraine’s recent action to finally stop the flow of Russian gas through GazProm, the gas line that crosses the war-torn country and into Europe, have an impact on Oklahoma? It’s just a question of speculation. Some observers have already called it “one of Moscow’s biggest defeats” by Ukrainian president Volodymyr Zelensky, but not …
Phillips 66 expands downstream holdings in $2.2 billion acquisition
Phillips 66 announced that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems for total cash consideration of $2.2 billion, subject to customary purchase price adjustments. Upon closing, this transaction …
Rep. Gann expands transparency call from Corporation Commission to legislature
Inola State Rep. Tom Gann, the Republican legislator who argued the Oklahoma Corporation Commission is not transparent and commissioner Todd Hiett should be stopped from voting on certain rate cases, also thinks there should be much more transparency in the legislature. He recently sponsored a reform package – House Resolution 1001 – designed to distribute power, promote …
Williams makes offering of $1.5 billion in senior notes
Williams announced that it has priced a public offering of $1.0 billion of its 5.600% Senior Notes due 2035 at a price of 99.843 percent of par and $500 million of its 6.000% Senior Notes due 2055 at a price of 99.330 percent of par. The expected settlement date for the offering is …
Power grid covering Oklahoma issues weather advisory
The cold weather gripping Oklahoma and much of the Midwest prompted the Southwest Power Pool to issue a “Resource Advisory.” It’s not one that will require utilities in Oklahoma and the 13 other states in the SPP to conserve energy. But it’s in effect from Monday until Wednesday noon. As for the storm, …
Stop the Green rally to put pressure on Governor Stitt
For opponents of a wind farm in Lincoln County to the now-cancelled federal Transmission Corridor to the on-going Cimarron Link transmission line project, they remain unsure whether Oklahoma Gov. Kevin Stitt is on their side. It’s why they plan to hold on Tuesday their “Stop the Green” rally at the state capitol with speakers …
ONEOK announces two new executive leadership appointments
Randy N. Lentz, chief executive officer and founder of Medallion Midstream, is assuming the newly created position of executive vice president and chief operating officer. In this role, Lentz is responsible for all of ONEOK’s asset operations. Sheridan C. Swords, previously executive vice president, commercial liquids and natural gas gathering and processing, is assuming …
Crude oil prices dropped in Monday’s trading
Monday’s trading saw a slight ease in oil prices largely because of what analysts called “bearish economic news” from the U.S. and Germany. Plus, there was the impact of forecasts for increased heating demand for energy during this week’s huge winter storm gripping much of the U.S. West Texas Intermediate, the U.S. benchmark, dropped …
Regulators to consider changes in oil and gas rules and regulations
Oklahoma regulators will meet Tuesday to consider some rulemaking changes. Corporation Commission chairwoman Kim David included some changes regarding when the commission might take it upon itself to dismiss a case. CHAIRMAN KIM DAVID’S PROPOSED RULES AMENDING CHAPTER 5 (As of January 6, 2025) TITLE 165. CORPORATION COMMISSION CHAPTER 5. RULES OF PRACTICE SUBCHAPTER …
