New Mexico’s oil and gas industry is taking a major blow as Marathon Petroleum Corp., the largest U.S. independent oil refiner says it will not restart its refinery in Gallup. The company said it will also not restart a California refinery amid concerns that demand for fuels is not likely to return to levels …
The first words from mission control to the astronauts were a humorous welcome home: “Thank you for flying SpaceX.” The astronauts had a cheerful message for their flight doctors waiting to check them out as well: “Let them know we’re feeling good.” The Crew Dragon capsule splashed down into the Gulf of Mexico, finishing …
Once again COVID-19 and the pandemic have affected the bottom line of an Oklahoma energy company. Magellan Midstream Partners, L.P. based in Tulsa reported a nearly 52% drop in net income for the second quarter 2020. Net income totaled $133.8 million compared to $253.7 million in the second quarter of 2019. The company blamed …
While dealing with the economic challenges brought upon the oil and gas industry by the COVID-19 pandemic, Oklahoma City-based Chaparral Energy has entered into a second forbearance agreement with its lenders. And for a second time, it has avoided a more than $13 million payment on its notes. The company stated in a late-July …
The Oklahoma Corporation Commission has decided to reopen the Jim Thorpe headquarters building this week and hold in-person hearings during the COVID-19 pandemic. However, the in-person hearings will be on a limited basis according to the protocols drawn up by the Commission staff. The protocols will require participants to wear protective masks at all …
Hominy State Rep. Sean Roberts says if Oklahoma City Thunder players take a knee during the playing of the national anthem, then the state should re-examine the tax credit it gave the NBA team. The Republican lawmaker issued a statement over the weekend, “By kneeling during the playing of the national anthem, the NBA and …
A day after oil futures ended higher with West Texas Intermediate crude in the U.S. settling back above $40 a barrel, OPEC loosened some of its production curbs by an estimated 2 million barrels a day. The expected rise in supplies as major producers relaxed their output restrictions was seen as the cause of …
The number of oil and gas rigs actively pursuing energy in the U.S. grew by one in the past week, the same amount that rig activity in Oklahoma increased as well. It means hundreds more remain in storage across the country. The nation’s rig count, according to Baker Hughes Co. increased by one to …
** Exxon Mobil Corp is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with a multi-billion-dollar quarterly loss looming. It was unclear how extensive the cuts will be. The largest U.S. oil company slashed this year’s budget by 30% in April. ** Mexico’s Pemex’s trading …
The wealthy who make their mountain homes in Aspen, Colorado, including those who warn the world about the effects of global warming while whisking around in their private jets, now face new greenhouse gas emission rules in the city of western Colorado. Rules went into effect July 30 as the city examines ways to …
