Efforts by the Biden administration to refill the nation’s Strategic Petroleum Reserve after the President used it to lower gasoline prices two years ago were delayed this week. The administration’s Energy Department said it was not moving forward to buy oil amid rising prices. It said it was doing so and “keeping the taxpayer’s …
Crude oil prices rose nearly 2% in Tuesday’s trading after news of more Ukrainian drone attacks on Russia’s third largest refinery. The conflict in the Middle East also added pressure to increased prices. West Texas Intermediate crude for May settled up $1.44 or 1.7% to $85.15 a barrel on the New York Mercantile Exchange. At …
The amount of gross production tax revenue from Oklahoma’s oil and gas production took another hit in March. State Treasurer Todd Russ reports the tax totaled $1.12 billion, down $901.2 million or 44.6% for the same 12-month period. He said total tax receipts for the past year through March came to $16.85 billion, a …
The Oklahoma State Capitol will be a busy place this week as hundreds of candidates for federal, state and legislative offices make their filings with the Oklahoma State Election Board. The filing period is April 3, 4 and 5, daily from 8 a.m. to 5 p.m. One man who intends to be there, …
Oklahoma Corporation Commissioners will hold another special meeting on Wednesday with the state’s oil and gas industry to get more input on storage regulations and issues. The commission’s Petroleum Storage Tank Division will hold the roundtable disccussion and the state’s three Corporation Commissioners might attend. The roundtable’s purpose is to engage industry stakeholders …
** The U.S. was the world’s largest exporter of liquified natural gas (LNG) in 2023, according to federal data released on Monday. U.S. exports of the fossil fuel last year surpassed those of major exporters Qatar and Australia and amounted to 12 percent more American gas shipped than in 2022, the independent Energy Information Administration said. …
The day after Easter, crude oil prices made a nearly 1% gain on expectations that demand will get a boost from economic growth in the U.S. and China. At the same time, OPEC+ is continuing with output decreases and Russian refineries are being attacked by Ukrainian drones. West Texas Intermediate crude rose 54 cents or …
Federal Trade Commission Chairwoman Lina Khan is being warned by Republican U.S. Sens. James Lankford and Markwayne Mullin along with a host of others not to follow what Democratic Senators want in the FTC probe of oil and gas mergers. Lankford along with Texas Sen. Ted Cruz, GOP Leader Mitch McConnell and South Carolina …
Tulsa’s Empire Petroleum finished the fourth quarter of its 2023 fiscal year with a nearly $5 million net loss or 20 cents per diluted share. The company announced the fourth quarter financial report on Monday, explaining it posted a net loss of $4.8 million for the quarter and a $12.5 million net loss or …
Tulsa’s Vital Energy is expanding its previously issued $800 million in senior notes with another $100 million. The company announced Monday that it is offering the $100 million in 7.875% senior notes due 2032 in a private placement to eligible purchasers. In the announcement, Vital stated that it intends to use the net proceeds …
