The latest Gulf of Mexico storm sent crude oil prices up nearly 1% on Tuesday. Tropical Storm Rafael has already forced oil companies to begin evacuations of operations in the Gulf and could result in some 4.9 million barrels of oil production a day being taken offline. It might do the same with natural …
Category: Oil & Gas
Next stop for anti-ESG Act in Oklahoma—the State Supreme Court
Housekeeping, in a manner of speaking, has taken place in the lawsuit that resulted in a suspension of the enforcement of Oklahoma’s anti-ESG Act and a recent court ruling against the two-year old law. Shortly after Oklahoma County District Judge Sheila Stinson granted summary judgment in retiree Don Keenan’s lawsuit against the Oklahoma Energy …
Refinery closing in Houston
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 …
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 …
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 …
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 …
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 …
FBI arrests man who intended to bomb a Tennessee energy plant
A man who reportedly planned to bomb a Tennessee energy substation by using drones carrying explosives is in custody. Just the News reported FBI agents foined the possible drone attack at the energy plant in Nashville. The suspect is identified as 24-year old Skyler Philippi who is charged with attempted use of a weapon …