Refinery operator HollyFrontier Corporation reported a fourth quarter net loss to stockholders of $39.5 million or 24 cents a share. With refineries in Kansas, Oklahoma, New Mexico, Washington and Utah, the company said the loss compared to $117.7 million or 73 cents a share a year earlier. The fourth quarter results reflect special items that …
Category: General
Dallas Federal Reserve Bank study finds issues with EVs
A new study by the Federal Reserve Bank of Dallas has a note of caution about electric vehicles even as EVs are gaining ground among consumers. The report released this week said yes, EV’s are making advancements in sales, but they still face price, range and charging constraints. The bank said EVs “have …
Fourth Quarter growth doesn’t mean Laredo Petroleum will expand exploration
Laredo Petroleum, Inc. reported it not only increased its average daily oil production and proved reserves in the fourth quarter of 2021, it also recorded net income attributable to common stockholders of $216.3 million, or $12.84 per diluted share. But the company, like others, is not rushing headlong into expanded drilling operations and oil production, preferring …
Russian crisis prompts Rep. Bice to call for Biden to let oil and gas produce
At least one Oklahoma U.S. Representative says the crisis in Ukraine is reason enough for the Biden administration to allow U.S. oil and gas companies return to full production capabilities. Republican Congresswoman Stephanie Bice, in a statement over the President’s announced economic sanctions on Russia said it’s imperative the Administration “remove its punitive regulations on …
Headlines of more energy stories
** Firestone agreed to pay a $3.35 million penalty after reaching agreement with the federal government and the state of Louisiana for violations of the Clean Air Act at its synthetic rubber manufacturing plant in Sulfur, Louisiana. ** The EPA announced the creation of an internal council charged with helping the agency foster stronger relationships with …
Crude oil gets closer to $100 following Russia’s “invasion” of Ukraine
As Russian troops entered two breakaway regions of Eastern Ukraine under Putin’s guise as “peacekeepers” and thousands of other troops awaited a possible full-scale invasion of the country, crude oil prices rose under the tension. Global benchmark Brent crude for April delivery went up $1.45 or 1.52% in Tuesday’s trading and settled at $96.84 …
Delay in agency’s review of $2.2 billion in storm cost requests of 3 utilities
The Oklahoma Development Finance Authority won’t meet Wednesday after all to consider the request of three more utilities for $2.2 billion in bond requests stemming from the 2021 winter storm in Oklahoma. The ODFA meeting originally scheduled for Wednesday has been cancelled and the next regular meeting of the agency board will be held …
ONEOK executive to retire
ONEOK’s Executive Vice President and Chief Administrative Officer, Robert Martinovich is leaving the company. In a filing with the Securities and Exchange Commission this week, the company said he gave his notice of his intention to retire. The company explained Martinovich will remain in his current role until a successor is named. Rob Martinovich …
Broadband expansion bill to get House committee hearing
State House Republican legislation to bring high-speed internet to 95% of Oklahomans in five years will be heard in committee this week. The creation of an Oklahoma Broadband Office via House Bill 3363 represents Oklahoma’s most aggressive step yet in broadband expansion, which has been a House Republican priority for three years. “With all the …
High court won’t hear Dakota Access Pipeline appeal
The U.S. Supreme Court says it won’t hear the appeal of Energy Transfer’s Dakota Access Pipeline stemming from a lawsuit. Dakota Access had appealed a lower court ruling which said the U.S. Army Corps of Engineers had to carry out more environmental reviews of the impact of the line. The Corps had issued an …