Oklahoma Corporation Commissioners will hold another special meeting on Wednesday with the state’s oil and gas industry to get more input on storage regulations and issues. The commission’s Petroleum Storage Tank Division will hold the roundtable disccussion and the state’s three Corporation Commissioners might attend. The roundtable’s purpose is to engage industry stakeholders …
Category: General
OGE Corp. annual meeting to be held in May
The annual shareholders meeting of Oklahoma Gas and Electric Energy Corp. will be a virtual event next month. The company announced the shareholders meeting in a proxy statement filed with the SEC and said it will be held May 16, a Thursday and start at 10 a.m. Sean trauschke, Chairman, President and CEO of …
AAA warns drivers to be alert on day of solar eclipse
AAA Oklahoma is among those highway safety groups issuing warnings about driving on Monday, the 8th, the day of the solar eclipse. It issued the warning for drivers to be alert because “the fast-moving phenomenon could impact traffic safety.” “As spectacular as this once-in-a-lifetime event will be, if you happen to catch a glimpse …
Energy quick reads
** The U.S. was the world’s largest exporter of liquified natural gas (LNG) in 2023, according to federal data released on Monday. U.S. exports of the fossil fuel last year surpassed those of major exporters Qatar and Australia and amounted to 12 percent more American gas shipped than in 2022, the independent Energy Information Administration said. …
Canoo CEO’s private jet expenses more than EV maker’s revenue
While Oklahoma City’s EV startup manufacturer Canoo reported it had cut its losses from 2022 to 2023, its operations have raised some questions—such as the use of CEO Tony Aquila’s private jet. While Canoo generated only $886,000 in revenue last year compared to zero dollars the previous year, it still managed production of 22 …
Cash-strapped Canoo lowers revenue expectations for 2024
The nationwide slowdown in demand for battery-powered cars prompted Oklahoma City’s EV manufacturer Canoo to forecast revenue in 2024 to be well below the expectations of analysts. At the same time, only 22 Canoo vehicles were manufactured in 2023, 17 of them in the fourth quarter. The forecast was released Monday while shares …
Crude oil prices made 1% gain in Monday’s trading and OK energy stocks saw moderate gains
The day after Easter, crude oil prices made a nearly 1% gain on expectations that demand will get a boost from economic growth in the U.S. and China. At the same time, OPEC+ is continuing with output decreases and Russian refineries are being attacked by Ukrainian drones. West Texas Intermediate crude rose 54 cents or …
Lankford and others call out political meddling in oil and gas mergers
Federal Trade Commission Chairwoman Lina Khan is being warned by Republican U.S. Sens. James Lankford and Markwayne Mullin along with a host of others not to follow what Democratic Senators want in the FTC probe of oil and gas mergers. Lankford along with Texas Sen. Ted Cruz, GOP Leader Mitch McConnell and South Carolina …
EVs and what other states are doing about them and for them and because of them
Despite opposition to the Biden administration’s spending of billions of dollars to promote electric vehicles and in effect kill gasoline-powered vehicles, other states report EV development. For instance, regulators in New Mexico have approved El Paso Electric’s transportation electrification plan that includes a $4,000 electric vehicle purchase rebate for low-income customers. In Oregon, it’s …
Losses reported in Empire Petroleum’s 4Q….leadership hopes to make 2024 a turning point
Tulsa’s Empire Petroleum finished the fourth quarter of its 2023 fiscal year with a nearly $5 million net loss or 20 cents per diluted share. The company announced the fourth quarter financial report on Monday, explaining it posted a net loss of $4.8 million for the quarter and a $12.5 million net loss or …