Monday’s trading saw crude oil prices slipping less than 50 cents a barrel as China’s demand for crude in September was weak and puny U.S. business activity limited the fall in prices. Oklahoma energy stocks were also hazy as some stocks saw a 7% gain while others dropped 4-5%. West Texas Intermediate crude for …
Category: Oil & Gas
Gasoline prices continue their fall in Oklahoma
Gasoline prices fell nine cents in the past week in Oklahoma, the same amount that the national average dropped, reaching a national average of $3.79 and an average $3.41 in Oklahoma. Prices have fallen daily since early October, mostly because of lower oil prices and a declining lack of demand by drivers. Oklahoma’s $3.41 …
Wheels are in fast motion for Hamm’s Continental Resources takeover
Soon, Continental Resources will be totally in the hands of billionaire founder Harold Hamm and his family. The Oklahoma City-based oil and gas company that he founded in the late 1960s will be private and no longer traded publicly. On Monday, it was formally announced that Omega Acquisition, the newest company founded by Hamm …
Other headlines of energy stories
** The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it would begin replenishing the SPR once prices fall to $67-$72 per barrel. ** President Joe Biden’s top energy adviser said the oil output cut by Saudi Arabia …
Waiting on funding of hydrogen hubs
Oklahoma, Louisiana and Arkansas await a decision by the federal government to hand out $7 billion from last year’s bipartisan infrastructure law that could fund up to 10 regional clean hydrogen hubs. The three states announced their agreement in March to create a bipartisan three-state partnership to create a regional hub for the development, production and …
Might be more oil releases by Biden administration
The President’s latest release of 15 million more barrels of oil from the nation’s Strategic Petroleum Reserve might not be the last. If that’s so, any future releases will surely draw more criticism from some Oklahoma congressmen who accused the President of staging a political stunt just before mid-term elections. Interviewed Sunday on CBS’s …
STEM night at Weatherford High School
Weatherford will be the site of the OERB’s latest effort to encourage high school students to invest in science, technology, engineering and math. A Community STEM Night at the Weatherford High School will be held Tuesday, Nov. 1 from 4 p.m. to 7 p.m. Teachers, students, and parents are encouraged to come and …
Schlumberger announces name change
Whether it means changes in the company signs in Oklahoma City and other locations across the state, but Schlumberger is no longer Schlumberger. The Houston-and Paris-based company announced Monday it changed its name to SLB and also rebranded itself as a technology firm going after more clean-energy space work. The new name of the …
Groups join forces to fight carbon capture pipelines
Carbon pipeline projects in the Midwest are being opposed by such groups as Bold Alliance, the same Nebraska-based organization that led opposition to the Keystone XL pipeline. Bold Alliance joined the Sierra Club as among the most prominent anti-pipeline groups fighting the carbon projects in Iowa and a handful of other Midwest states reported …
Rep. Mullin—Biden continues to drain US emergency supply
Oklahoma Congressman Markwayne Mullin joined others this week in criticizing President Biden over his latest release of oil from the nation’s Strategic Petroleum Reserve, a move made just a few weeks before the mid-term elections. In a weekly column to his constituents, the GOP Representative, who is running for U.S. Senate to succeed retiring …