Tulsa’s Alliance Resource Partners, L.P. , the second largest coal producer in the Eastern United States announced Wednesday the retirement of Charles R. Wesley as Executive Vice President and Director of ARLP’s general partner. His retirement was effective the end of July after he joined the company in 1974 to work for Webster County …
Sen. Lankford fights infrastructure bill
While President Biden and Democratic leaders are optimistic about passing their more than $1 trillion infrastructure bill, Oklahoma U.S. Sen. James Lankford is fighting it. He says the $1.2 trillion bill is another example of “excessive spending” by Democrats and continued to speak out this week against the 2,702-page measure. The Senator was interviewed …
Energy news in brief
** The Energy Information Administration reported an inventory build of 3.6 million barrels of crude oil for the week to July 30. This compared with analyst expectations of a 2.9-million-barrel draw. For the previous week, the EIA had estimated an inventory draw of 4.1 million barrels. ** The Department of Energy issued a proposal on Tuesday to repeal a Trump administration rule creating a new …
CVR refinery delays renewable diesel production at Wynnewood
High feedstock prices have interrupted plans by CVR Refinery in Wynnewood to begin production of a proposed 7,000 barrels a day of renewable diesel. Carl Icahn’s company made the announcement this week blaming the high price of feedstock caused by several other U.S. refineries joining in the same kind of operation to produce more …
Enable nearly doubles 2Q net income from a year ago
Enable Midstream Partners, LP announced financial and operating results for second quarter 2021 showing increased income and a continuing quarterly cash distribution for shareholders. The Oklahoma City company said net income attributable to limited partners was $87 million for second quarter 2021, an increase of $43 million compared to $44 million of net income …
Some Los Alamos nuclear waste too hazardous to move
A report by a Santa Fe newspaper says Los Alamos National Laboratory has identified 45 barrels of radioactive waste so potentially explosive — due to being mixed with incompatible chemicals — that crews have been told not to move them and instead block off the area around the containers. The report by the Santa …
Energy Transfer earnings increased in 2Q
Energy Transfer’s new intrastate pipeline that transports crude from the Denver-Julesburg Basin in Colorado and the Cushing hub in Oklahoma to a Texas terminal is credited with helping increase the firm’s quarterly net income. The Cushing to Nederland expansion project was activated in June and uses a crude oil pipeline that previously serviced the …
Why isn’t Chesapeake Energy’s recovery stronger?
An examination of Chesapeake Energy and its slow recovery after emerging from bankruptcy earlier in the year points to executive departures and changes in the direction of the Oklahoma City company. Reuters reported this week that the company’s recovery is slower compared to other firms that endured the same kind of bankruptcy. “Investor confidence …
Lankford Pushes Nominee on Congress’ Authority to Make Laws in Light of Increasingly Activist, Progressive Biden Nominees
Oklahoma U.S. Sen. James Lankford pushed a Biden nominee Tuesday on the subject of whether federal agencies or congress have the power to make law. It came during a Senate Energy and Natural Resources Committee hearing to consider nominations for the Department’s of Energy and Interior. Lankford, obviously disturbed over activists nominated by Biden …
Despite fallen crude oil prices, energy stocks made gains
Growing concerns about cases of the Delta coronavirus variant sent crude oil prices lower in Tuesday’s trading while energy stocks made gains. West Texas Intermediate crude dropped 70 cents or 0.98% to finish the day at $70.56 a barrel. Global benchmark Brent crude finished the day down 48 cents or 0.66% at $72.41 a …