Global oil demand could dive by 20% as 3 billion people are in a lockdown because of the coronavirus outbreak, the head of the International Energy Agency said as he called on OPEC leader Saudi Arabia to help stabilise oil markets. “Today, 3 billion people in the world are locked down. As a result …
The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia sent crude prices crashing to their lowest levels in almost two decades. The U.S. wants Saudi Arabia to hold back on a plan to supply a record 12.3 million barrels a …
After increases earlier this week, the price of crude oil took a drop on Thursday. West Texas Intermediate crude fell $1.89 a barrel, closing at $22.60 for a change of 7.72%. Brent crude was down 59 cents, closing Thursday at $26.80 a barrel for a change of 2.15%. Natural gas prices fell too, dropping 2 …
Oklahoma Congressman Frank Lucas joined the Democratic chair of the U.S. House Science Committee in asking the the Government Accountability Office to investigate waste cleanup by the Department of Energy. He is the ranking Republican on House Science, Space and Technology Committee and together with Democratic chairwoman Eddie Bernice Johnson made the request. “What …
** Noble Midstream Partners LP announced that the Board of Directors of the General Partner has approved a 73% reduction of the quarterly distribution to $0.1875 per unit, which the Partnership plans to hold flat in the current environment. This change is effective immediately and is anticipated to preserve approximately $200 million of annualized cash to support …
While companies respond to the massive drop in oil prices, Tulsa’s Blueknight Energy Partners LP reports business was good in 2019, so good it made profits compared to the losses suffered in 2018. And it anticipates better income due to the demand for storage. The company reported its fourth quarter net income totaled $4.3 million, …
The head of Murphy Oil Corporation based in El Dorado, Arkansas has apparently been taken ill with the coronavirus and has temporarily stepped aside from his leadership role. The company announced Thursday that Roger W. Jenkins, President and Chief Executive Officer took a temporary medical leave because, pending test results, he has what the firm …
The coronavirus pandemic has forced Tulsa-based Williams to forego an in-person annual meeting of shareholders. Instead, the company will host its 2020 annual meeting “virtually” due to the public health impact of the pandemic. The company announced its annual meeting will be convened in person at the company headquarters, then immediately adjourn to a …
They haven’t been major producing oil wells, but oil and gas drilling is continuing in Oklahoma as witnessed by completion reports filed this week including a gas well with production of more than 10,000 Mcf of natural gas. Citizen Energy iii LLC reported completion of the Lancet 1h-17-8 well located at 17 14N 15W …
The U.S. Senate late Wednesday voted 96-0 to approve the $2 trillion emergency relief bill aimed at overcoming the economic affects of the coronavirus pandemic.Oklahoma Sens. Jim Inhofe and James Lankford were among those who voted in support of the largest economic rescue package in U.S. history.”To all Oklahomans—our families, our students, our small businesses …
