** Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns and a …
Category: Oil & Gas
Crude oil made gains Monday while OK energy stocks dropped
Fresh sanctions on Iran sent crude oil prices higher on Monday. It was considered a recovery from the steep losses recorded on Friday. Adding to the increased oil prices were concerns of near-term supply tightness. Oklahoma energy stocks experienced negative territory for the day. West Texas Intermediate crude rose 43 cents or 0.6% to …
New CFO named at Baker Hughes Company
A new Chief Financial Officer was named this week at Baker Hughes Company. The firm said Ahmed Moghal, an experienced finance leader who is the current chief financial officer of the company’s Industrial & Energy Technology business was named CFO effective immediately. He succeeds Nancy Buese, who by mutual agreement with the company, according to …
Corporation Commissioners busy with exempted public meetings
Since the end of January, Oklahoma Corporation Commissioners have used a new state law to meet four separate times in exemption of Oklahoma’s Public Meetings law. The meetings, their times, places and who attended are revealed in the Commission’s website. The most recent such meeting, which like the others was not announced to the …
Waterways used to deliver turbine for Grand River Dam Authority
A large advanced gas turbine recently made the trip up the McClellan–Kerr Arkansas River Navigation System to be used by the Grand River Dam Authority in providing electricity to its customers. The Mitsubishi Power turbine arrived at the Tulsa Ports Low Water Wharf at the Port of Catoosa, according to a monthly report by …
Energy briefs
** President Donald Trump is calling for an audit that could kill California’s high-speed rail proposal, which has been around for nearly two decades and has made very little progress. Transportation Secretary Sean Duffy secretary wants to investigate if there were any shady business dealings tied with the rail project’s failure so far. ** Federal energy …
Stardust Power advances with lithium facility in eastern Oklahoma
In exchange for the technology needed for creation of its $1.2 billion proposed lithium plant at Muskogee, the largest of its kind in the U.S., the owner, Stardust Power Inc. agreed to give shares to the technology holder. It also has already made agreement to sell some of the produced lithium once the plant …
Three Oklahoma oil plays see increase in rig activity
Three of Oklahoma’s oil plays saw gains in oil and gas rigs in the past week, according to the Baker Hughes Co. rig report. The Cana Woodford gained two rigs to reach a total of 21. The Ardmore Woodford count grew by one to 3 rigs while the Arkoma Woodford continued for another week …
Report shows average state tax rates on gasoline and diesel fuel nearly flat
Data source: U.S. Energy Information Administration, federal and state motor fuel taxes A new government report indicates the fuel taxes paid by motorists across the U.S. remained flat over the past several months. As of January 1, 2025, state taxes and fees on gasoline and diesel fuel averaged $0.33 per gallon (gal) of gasoline and $0.35/gal …
Oklahoma makes big gain in oil and gas rigs
Oil and gas drilling in Oklahoma took a big step in the past week, increasing the state rig count by five to 49 total rigs, according to the latest Baker Hughes Co. rig count. It was the largest one-week increase for the state in months. The total of 49 compared to the 44 rigs …