Some New Mexico lawmakers are skeptical of the $1.5 billion plan to convert the coal-fired San Juan Generating Station near Farmington into the largest carbon-capture facility in the world. The Santa Fe New Mexican reported the skepticism is largely from Democratic legislators while Republicans support the project. Click here for Santa Fe New Mexican. …
Category: Oil & Gas
Crude oil prices take another hit
Even as the U.S. Energy Information Administration reported U.S. crude oil stockpiles fell for the 8th straight week last week, prices took a significant drop in Wednesday’s trading. Stockpiles are falling due to renewed strength in the U.S. economy which is driving higher fuel demand but oil prices plunged more than 2% on Wednesday. …
PSO continues partnership with Food Banks to Shine A Light on Neighbors in Need
For the eighth consecutive year, Public Service Company of Oklahoma is teaming up with Oklahoma’s two largest food banks to distribute more than 100,000 energy-efficient LED bulbs to families in need. Since 2014, PSO has worked with the Community Food Bank of Eastern Oklahoma and the Regional Food Bank of Oklahoma to coordinate the …
Chevron hit with $85 million lawsuit over February storm
Chevron USA Inc. has been sued in Houston federal court for $85 million by a Texas natural gas marketer who filed the action because Chevron failed to make natural gas deliveries during the historic February winter storm. Reuters reported that in a complaint filed on Friday, Cailip Gas Marketing LLC located in Houston accuses Chevron Natural …
Undocumented oilfield workers complain of unfair pay
Undocumented workers from Mexico are complaining they are underpaid in New Mexico’s oilfields and are being treated unfairly compared to documented workers. Click here for story from Carlsbad Current Argus.
Energy news in brief
** America’s oil demand has soared to new heights in a remarkable turnaround from just a year ago when the pandemic sent the U.S. economy into a tailspin and decimated demand. A rolling average of U.S. total oil products supplied – an indicator of consumption – jumped to the highest seasonal level in government data going back …
$1 billion renewable gasoline operation planned for South Texas
If city leaders in Beaumont, Texas give their approval, a new $1 billion facility to produce renewable gasoline out of woody biomass. Arbor Renewable Gas is asking the city for permission to create a special reinvestment zone to build its operation reported KBMT TV. Click here for KBMT story.
Chesapeake to make enhanced environmental stewardship
Oklahoma City-based Chesapeake Energy Corporation is making another major step in making sure its natural gas production is socially and environmentally responsible. The company announced a new collaboration with MiQ and Equitable Origin to begin independent certification of its natural gas production under the MiQ methane standard and the EO100TM Standard for Responsible Energy Development, which …
Unit Corporation announces share repurchase program
Tulsa’s Unit Corporation announced that its board of directors has authorized repurchasing up to $25 million of its outstanding common stock. The repurchases will be made through open market purchases, privately negotiated transactions, or other available means. The Company also announced that its long-term debt as of June 30, 2021 was $35 million. Philip …
Panama and Energy Transfer to study development of LPG assets in Panama
The Republic of Panama and Dallas-based Energy Transfer LP announced that the parties have signed a Memorandum of Understanding to study the feasibility of joint participation in a proposed Trans-Panama Gateway Pipeline project. The non-binding MOU signed this week in Dallas by Energy Transfer Executive Chairman Kelcy Warren and Panama President Laurentino Cortizo Cohen …