With gasoline prices falling, ethanol producers across Iowa are seeing their profits fall, too, and industry leaders say the timing couldn’t be worse. Monte Shaw, executive director of the Iowa Renewable Fuels Association, says international trade feuds and reduced travel due to coronavirus are two of the primary factors for the drop in prices …
The Bureau of Land Management plans to go ahead with the May sale of oil and gas leases on government land in Texas and New Mexico. More than 45,445 acres making up 95 parcels will be involved in the quarterly oil and gas lease sale. The proposed parcels are located in Chaves, Eddy and …
The past week was a slow one for drilling permits and completion reports filed with the Oklahoma Corporation Commission. They showed how the oil and gas slowdown has affected drilling operations in the state. Only 22 permits to drill were issued from Monday through Friday as companies indicated plans to drill. Texas County in …
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 …
