** BP’s sprawling oil refinery in northwest Indiana has resumed normal operations more than six weeks after a power outage prompted the energy giant to temporarily shut down the complex and evacuate workers. ** The chief of the largest US producer of natural gas has warned that a lack of pipelines and storage facilities will trigger dramatic …
Category: Oil & Gas
AG Drummond has an environmental legal fight on his hands
Oklahoma Attorney General Gentner Drummond and 23 other attorneys general who sued the EPA over the agency’s oil and gas methane rule aren’t alone in legal efforts regarding the rule. They now have a fight on their hands. Twenty Democratic state attorneys general filed a motion this week in support of the Environmental Protection …
Crude oil prices makes more gains as Ukrainian attacks leave Russian refineries burning and in ruins
Tuesday brought another gain in crude oil prices as they reached multi-month highs for the second straight trading session. It appears the prices rose as investors and traders considered the impact of Ukrainian drone attacks on Russian refineries West Texas Intermediate crude went up 75 cents or 0.9% and settled at $83.47 a barrel …
BlackRock loses $8.5 billion Texas contract because of anti oil and gas policies
Recent SEC filings showed how BlackRock investment had reportedly eased its anti-oil and gas stance and actually held investments in Oklahoma oil and gas firms. But in Texas, the company learned this week, its $8.5 billion investment contract with the Texas State Board of Education was terminated, ripped apart, stopped and otherwise thrown in …
ConocoPhillips CEO says Biden administration needs to lift LNG export freeze
The top man at ConocoPhillips, Ryan Lance, has joined the list of those urging the Biden administration to lift its freeze on LNG export licenses. In an interview with Bloomberg TV this week, Lance said the pause should come to an end after the November presidential election. “Customers are getting uncertain about where the …
GOP legislators in New Mexico speak out against pause in state oil and gas leases
Republican legislators in New Mexico are trying to reason with state leaders who are implementing a pause on new oil and gas leaseson state land. The plan was announced recently by the State Land Office which stated it would not open new leases on hundreds of acres of land. Rep. Rod Montoya of …
Energy quick reads
** The U.S. Environmental Protection Agency on Monday finalized a rule that would ban using and importing cancer-causing asbestos, a material still used in some vehicles and in some industrial facilities in the U.S., the first chemical banned under a 2016 chemical safety law. * The U.S. Energy Department (DOE) will unveil final rules that …
Head of world’s largest energy company says world needs to accept that oil will be around for a long time
As head of the world’s largest energy company, Amin Nasser says get over it….the “hard realities” that oil and natural gas will be around for a long time should be accepted by the world. Nasser is CEO of Saudi Aramco and carried his message this week to Houston where he spoke at the annual …
Crude oil prices hit 4-month high while natural gas made a gain too
Monday’s trading brought a 2% gain for crude oil prices as they hit a four-month high following word of lower crude exports from Iraq and Saudi Arabia. Plus, there were indications of stronger demand and economic growth in China, according to Reuters. West Texas Intermediate crude, considered the U.S. benchmark, went up $1.68 or 2.1% …
Senators repeat their call for Biden administration to end freeze on new LNG exports
U.S. Senator John Barrasso (R-WY), ranking member of the Energy and Natural Resources (ENR) Committee, joined Senators Dan Sullivan (R-AK), Roger Wicker (R-MS) and Jim Risch (R-ID) in sending a letter to President Biden’s Climate Envoy John Podesta, urging an “immediate reversal” of the Biden administration’s ban on new LNG exports. Specifically, the letter warns of the “dire …