Phillips 66 is planning an “investor day” next month. It’ll be held in New York City on Nov. 9 of this year. Executive management will provide an update on the company’s strategic initiatives starting at 7:30 a.m. central time. The company also plans to offer a live webcast of the meeting, available at its …
Category: Oil & Gas
FERC claims Texas power grid is as vulnerable as it was in 2021
Federal energy regulators are expressing concerns that the Texas electricity grid is no stronger or better than when it nearly collapsed in the February 2021 winter storm, the same storm that battered Oklahoma and left thousands wondering about their own electric suppliers. A report issued by the Federal Energy Regulatory Commission contended the electricity …
Cushing crude oil storage up slightly in past week
The amount of crude oil stored at the Cushing hub in northern Oklahoma saw a slight gain in the past week. The U.S. Energy Information Administration reported Wednesday that Cushing held 26.9 million barrels of oil as of October 21, a gain of about 700,000 barrels compared to the previous reporting date of Oct. …
Coffeyville Refinery wins partial victory in Clean Air fight with Kansas
Ten years after the Coffeyville Resources Refining & Marketing company in Kansas agreed to a $1 million EPA fine for air emissions violations, the company finds itself back in court where it recently scored a partial victory. Once again, the refinery, known as CRRM, finds itself accused of violating the Clean Air Act, even …
Federal agency accused of “inaction” to protect prairie chickens in Southwest
The U.S. Fish and Wildlife Department stands accused in a lawsuit of failing to finalize proposed protections for the lesser prairie chicken that exists throughout the Southwest and in Oklahoma. But some of those protections are opposed by the oil and gas industry in New Mexico which argues there could be potential economic harm …
More energy headlines
** Bloomberg reported this week that, based on data it had compiled, the collective profits of Exxon, Chevron, Shell, BP, and TotalEnergies for the last quarter would come in at $50.7 billion. This is palpably lower than the record $62 billion the five supermajors reported for the second quarter—drawing the ire of politicians—but it is still a large number …
Congresswoman Bice joins movement in blaming Biden for nation’s energy crisis
Oklahoma Congresswoman Stephanie Bice is the latest of Oklahoma’s congressional delegation to blame President Biden for the energy crisis in this country. In a column released this week, the Republican Representative said very much like Sen. James Lankford wrote earlier in the week, that the country’s energy power all changed the first day Biden …
Biden now considers steps to avoid lower diesel fuel reserves
Even as the White House continues drawing oil from the nation’s Strategic Petroleum Reserve, there is growing speculation the Biden administration might take even more drastic steps in considering the U.S. reserve of diesel fuel. Such things as curbs on exports or requiring private companies to maintain their own minimum inventory levels according to …
Increased oil exports sent prices up along with OK energy stocks
Record U.S. crude exports resulted in a 3% gain in crude oil prices on Wednesday and gains for Oklahoma energy stocks including one firm with a more than 11% increase. The gains came after it was announced that U.S. refiners had operated at higher-than-usual levels for this time of year reported Reuters. West Texas …
Will earnings success continue for NGL Energy Partners?
NGL Energy Partners LP announced that NGL plans to issue its fiscal second quarter ended September 30, 2022 earnings press release post-market close on Wednesday, November 9, 2022. The members of NGL’s management team in Tulsa intend to host an earnings call following this release on Wednesday, November 9, 2022 at 4:00 pm CT …