Crude oil prices rose 2% in Wednesday’s trading, thanks to increased U.S. energy consumption as shown by falling inventories last week of U.S. crude oil, gasoline and distillate. The U.S. Energy Information Administration reported the demand grew as refining activity and demand strengthened. Crude stocks fell by 961,000 barrels to 422.8 million barrels last …
North America’s LNG Export Growth North America’s liquefied natural gas export capacity could more than double by 2029, driven by major U.S. projects under development along the Gulf Coast. Louisiana Gov. Jeff Landry on LNG Industry “We’re beating Texas, that’s important”: Louisiana Republican Gov. Jeff Landry discusses the state’s involvement in the liquified …
Trump Moves to Refill Oil Reserve After Biden’s Controversial Release Oklahoma lawmakers who blasted President Joe Biden for draining the Strategic Petroleum Reserve may finally see a reversal. The Trump administration announced plans this week to buy one million barrels of oil to help refill the reserve. Oklahoma Senators Criticized Biden’s Energy Strategy When Biden …
Oklahoma City-Based Driller Prepares Quarterly Update Gulfport Energy, headquartered in Oklahoma City, will release its third quarter earnings report on November 4, following an aggressive plan to expand drilling operations.The company allocated $75 to $100 million after the second quarter to acquire additional acreage for oil and gas development. Investors are eager to see if …
As crude oil prices finished higher on Tuesday, it still raised concerns in the industry of “contango,” the term that describes when prices for immediate supply are lower than for later delivery. It suggests the available current supply is abundant and that energy demand is falling. Analysts concluded that investors took another look …
Layoffs at Interior Department Threaten Oklahoma Earthquake Monitoring Oklahoma’s ability to track and respond to earthquake activity could take a major hit as the U.S. Interior Department moves ahead with thousands of job cuts. Oklahoma’s Dependence on USGS Data For years, Oklahoma agencies—especially the Corporation Commission—have relied on the U.S. Geological Survey (USGS) for precise …
Tension Builds Between Trump and Energy Secretary Wright Political tension in Washington is spilling into the U.S. energy sector as reports circulate that Energy Secretary Chris Wright, a former Colorado oil executive, may be losing favor with President Donald Trump. Sources describe their relationship as “strained,” with the President reportedly disappointed that Wright has not …
Oklahoma’s Lithium Future Gains Momentum Stardust Power Inc., the lithium refinery developer in the process of building a refinery in Muskogee, announced this week the signing of an agreement to get some of its needed minerals from a Canadian supplier. Based in Greenwich, Connecticut, Stardust said it had executed a Letter of Intent with Prairie Lithium …
Aging Lines to Be Replaced with Modern Lattice Towers AEP’s Oklahoma rebuild replaces 40-year-old wooden poles with new BOLD lattice towers, each standing 110 to 165 feet high. Approximately 380 towers will be installed along the Lawton East Side to Sunnyside transmission corridor. AEP officials emphasized that the upgrade is not tied to a specific …
Federal Shutdown Hits U.S. Energy Operations Widespread furloughs are underway at the federal agency charged with overseeing the U.S. nuclear stockpile. It’s the latest fallout from the government shutdown, now in its 20th day with no end in sight. ** The Palisades nuclear plant in Michigan received fresh nuclear fuel on Monday in what the facility’s …
