** Bipartisan legislation aimed at speeding up approvals for new energy projects advanced to the full Senate Wednesday. The legislation, put forward by Sens. Joe Manchin (I-W.Va.) and John Barrasso (R-Wyo.), sailed through committee in a 15-4 vote. The lawmakers who opposed the legislation were Sens. Ron Wyden (D-Ore.), Bernie Sanders (I-Vt.), Mazie Hirono (D-Hawaii) and Josh Hawley (R-Mo.), reported The Hill. ** Refiner HF …
Category: Oil & Gas
Drop in 2Q earnings for LSB Industries
Oklahoma City’s LSB Industries reported a second quarter drop in net sales and net income, but leadership still considers the company had a solid cash flow. Company executives also believe the prices have stabilized following the instability and price hikes of two years ago. Net sales were $140 million compared to $166 million a …
Question–is Kamala Harris lying about no longer wanting a fracking ban?
The question some in the energy industry asked this week—is Vice President Kamala Harris lying when she claims she no longer supports a ban on fracking in the oil and gas industry? After being a major proponent of a fracking ban five years ago when she dropped out of the race for President, Harris …
Enviros call court ruling against Williams Cos. pipeline “incredible victory”
While oil and gas industry supporters viewed this week’s federal court ruling that halted the Williams Cos. from expansion of its major gas line serving northeastern states, others called it a big win for environmentalists. Take for instance the headline in the New Jersey Monitor…New Jersey being one of the states to be …
Big gain in oil prices on killing of Hamas leader in Iran
Crude oil prices said goodbye Wednesday to seven-week lows and rebounded nearly 3%—largely on the killing of a Hamas leader in Iran. Plus, there are the increased tensions in the Middle East over the attack, not to mention a sharp reduction in crude oil stockpiles across the U.S. West Texas Intermediate crude gained $3.02 or …
OERB promotes educational oil and gas-related workshops
A number of free workshops are being offered in the coming weeks by the Oklahoma Energy Resources Board. Provisions To Consider When Negotiating A New JOA July 31 | 11 a.m. | Zoom When considering a joint venture between parties, there are many issues to address and understand through the Joint Operating …
Texas regulators order two wastewater wells closed over rash of earthquakes in Permian Basin
In response to dozens of recent earthquakes through the Permian Basin in west Texas, state regulators ordered the closing of two wastewater injection wells—-a move similar to the action taken over the past several years by the Oklahoma Corporation Commission. Nearly 61 earthquakes were reported earlier this month near Midland and this week, the …
Crude supplies slide again at Cushing hub and across the U.S.
More dramatic drops in crude oil storage at the Cushing Hub in Oklahoma and across the U.S. were reported Wednesday by the U.S. Energy Information Administration. Cushing’s total dropped 1.1 million barrels in the most recent reporting period. It fell from 31 million barrels as of July 19 to 29.9 million barrels as …
National group sides with Williams in court rejection of extended gas line for Northeast U.S.
Tulsa’s Williams Cos. has an ally after its bid to construct a new natural gas pipeline to serve New Jersey, Delaware, Maryland, New York and Pennsylvania was rejected by the U.S. Court of Appeals for the District of Columbia Circuit. The court ruling on Tuesday came after the Federal Energy Regulatory Commission …
News briefs
** Power prices on the biggest US power grid are about to hit a record-high amid a wave of plant retirements and surging demand, thanks in part to new data centers being built. Generators that provide electricity to the 13-state grid that stretches from New Jersey to Illinois will get a record $269.92 per megawatt-day …