** Natural gas futures plummeted 11% in the U.S. as forecasts shifted warmer through the middle of next month, allaying concern about tight domestic supplies amid a global shortage of the heating fuel reports Bloomberg. ** Reps. Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.) and seven other House Democrats are urging the Justice Department to release American environmental lawyer …
Category: Oil & Gas
Denver moves to ban natural gas by 2030
The city of Denver has taken another step toward becoming even greener in its rules and regulations on buildings. The City Council voted unanimously this week in support of an ordinance requiring large office and apartment buildings to use solar power and switch to electric and water heating systems by 2030 according to a …
500 Phillips 66 workers to lose their jobs over refinery conversion
Nearly 500 workers at Phillips 66’s Alliance refinery in Belle Chasse, Louisiana will be losing their jobs as the company plans to shut down the operation and convert it into an export terminal. The Houston Business Journal reports that 470 workers at the refinery, located about 25 miles south of New Orleans will begin …
Xfuels Acquires 516 Oil and Gas Wells in Oklahoma and Kansas from Jubilee Exploration
Alberta-based Xfuels, Inc. announced Monday that it plans to expand its U.S. holdings by adding 516 wells in the midcontinent region including 10 counties in northeast Oklahoma and southeast Kansas, according to a press release. The company has entered a letter of intent to purchase 100% of the common stock of oil and gas producer, …
Omicron Variant to be Discussed at Dec. 2 OPEC Meeting
OPEC and its allies will discuss their response to the Omicron coronavirus variant at their meeting this week, although their knowledge of the potential impact on oil markets remains limited. The comments on Monday from Russia and Saudi Arabia, the leaders of OPEC+, are the latest sign the group may reconsider its planned January production increase, according to a …
New Mexico regulators take earthquake prevention steps
The threat of more earthquakes in the Permian Basin in Southeast New Mexico prompted state regulators to take more prevention steps this week. The New Mexico Oil Conservation Division announced an increase in seismic monitoring as well as curbing some of the wastewater disposal operations—steps taken a few years ago by the Oklahoma Corporation …
Energy news headlines for Tuesday
** Transportation Secretary Pete Buttigieg stressed in a new interview that families who buy electric vehicles (EVs) “never have to worry about gas prices again.” While speaking on MSNBC’s “The Sunday Show With Jonathan Capehart,” Buttigieg noted that Democrats’ proposed social spending package includes incentives to make it more affordable to buy an electric vehicle. ** North Dakota officials …
EIA: Thanksgiving Holiday Gasoline Prices Highest Since 2012
The average U.S. regular retail gasoline price across all formulations (conventional and reformulated) on the Monday before Thanksgiving was $3.40 per gallon (gal), $1.29/gal (62%) higher than it was the week before Thanksgiving last year and the highest pre-Thanksgiving price since 2012 (in nominal terms). Compared with levels before the COVID-19 pandemic, prices are $0.82/gal …
Baker Hughes Rig Count Reveals Six New Rigs in US
The number of active oil and gas rigs in Oklahoma was unchanged in the past week, remaining at 44 while nationally, the number increased slightly, according to the latest report from Baker Hughes. Nationwide, the number of oil rigs increased by 6 to 569 including 552 land rigs. The nation is still 320 rigs higher …
Baker Hughes shows rig count growth nationally
The weekly Baker Hughes rig report was just opposite of one released by Enverus. While Enverus reported a decline of 6 rigs nationally, Baker Hughes reported a growth of 6 rigs bringing the national count to 569. The newest count from Baker Hughes showed 6 more oil rigs for a total of 467 while …