After suffering losses on Wednesday, crude oil prices managed a weak rebound on Thursday in the US but not in Europe. While one went up the other went down. West Texas Intermediate crude for December delivery went up 15 cents or 0.18% to settle at $82.81 a barrel in trading on the New York …
Category: Oil & Gas
Causes of February storm’s natural gas shortages still debated
“—gas just simply wasn’t available and/or gas prices were too high…” A U.S. Senate committee was told this week there were lots of causes for the February winter storm loss of electrical power in Oklahoma and other states that make up the Southwest Power Pool. But the hearing made it clear, the problems that nagged …
Gasoline hits $3.02 average in Oklahoma
Spooky rising gasoline prices are catching up with Oklahoma as Halloween approaches and 64 of the state’s 77 counties now have averages at $2.98 all the way up to $3.26 a gallon. Yet, the statewide average is still the lowest in the region. Only 13 counties have price ranges less than $2.98 a gallon …
Renewed oilfield activity helped Civeo
Civeo, the global workforce housing specialist with remote camps, lodges, and village locations in the US, Canada, and Australia reported increased revenues in the third quarter of 2021. It was largely due to a regeneration of oilfield activity across the U.S. and Canada after the 2020 COVID-19 pandemic. The firm, with an Oklahoma operation, reported …
Other energy news headlines
** After China cracked down on cryptocurrency earlier this summer, bitcoin mining companies relocated their farms—many of them to the US, where the share of bitcoin mined worldwide soared from 16.8% to 35.5%. ** Royal Dutch Shell Plc responded to external pressure by setting a more ambitious target for cutting greenhouse gas emissions from its operations, while …
Legislator urges Tulsa to reconsider tribal challenge
As the state’s energy industry awaits a firm decision on the impact of the U.S. Supreme Court McGirt ruling that said tribes still have control over some Eastern Oklahoma lands, the city of Tulsa entered the fray this week. The city filed an amicus brief challenging tribal sovereignty and it prompted Tulsa Democratic Rep. …
Slight increase in US rig count
The weekly rig count provided by Enverus Rig Analytics showed an increase of two rigs in the past week to reach 642 as of Oct. 27. The Austin firm indicated it is a 4% increase in the past month and 91% higher than a year ago. Week-over-week changes by major play were unremarkable, ranging …
Cold weather rule adopted in Nebraska
Nebraska’s statewide cold weather rule to protect natural gas utility customers from losing service if they’re unable to pay their bills kicks in on Monday. The Nebraska Public Service Commission adopted the rule 18 years ago reported the North Platte Telegraph. Click here for North Platte Telegraph. The cold weather rule provides customers …
Williams moves to capture zero-carbon markets
Tulsa-based Williams Cos. is quickly moving ahead with plans to take advantage of the worldwide movement toward responsible production and transportation of lower carbon fuel. The National Gas Intelligence reports the company even hired a Business Development director earlier this year as Williams advanced its strategy to capture opportunities from low and net-zero carbon …
Crude oil storage takes another drop at Cushing
If traders and analysts were nervous last week over the growing reduction of crude oil at the Cushing hub in Oklahoma, they will really be anxious over the latest decline. The U.S. Energy Information Administration reported Wednesday the amount of crude in storage at Cushing, one of the largest storage sites in the U.S., …