The Oklahoma Incentive Evaluation Commission has scheduled a special virtual meeting for Thursday, October 1, 2020 at 10:00 a.m. The IEC will receive an update on the Year Five 2020 incentives by Randall Bauer of PFM Group Consulting LLC. Bauer will discuss the following economic incentives and related recommendations: Five Year Ad Valorem Tax Exemption …
Marathon Petroleum, Top U.S. Refiner, Begins Widespread Job Cuts
Marathon Petroleum Corp , the largest U.S. oil refiner, began cutting jobs on Tuesday across the company, according to people familiar with the matter, as the COVID-19 pandemic sapped demand for motor fuels. U.S. refiners have posted large losses this year as fuel consumption tumbled amid lockdowns and work-from-home policies to combat the spread of …
More energy firms saw their stocks drop than increase in Tuesday’s trading
Oil prices dropped to a two week low in Tuesday’s trading and Oklahoma energy stocks followed suit in many instances. Alliance Resource Partners dropped more than 2% or 6 cents a share to settle at $2.79. Blueknight Energy Partners saw a more than 8% increase or 12 cents to reach $1.59. Chesapeake Energy dropped nearly …
Oil falls as demand concerns send U.S. prices to lowest finish in 2 weeks
Oil futures fell sharply on Tuesday, sending U.S. and global benchmark crude prices to their lowest finish in two weeks. West Texas Intermediate crude for November delivery fell $1.31, or 3.2%, to settle at $39.29 a barrel on the New York Mercantile Exchange, after gaining 0.9% on Monday. Front-month November Brent lost $1.40, or 3.3%, to …
Pendley court ruling could unravel Trump’s public lands decisions
A federal judge’s decision to boot a top Trump appointee could jeopardize years of actions the administration has taken on public lands, including an expansion of oil and gas drilling and the decision to uproot the Bureau of Land Management (BLM) headquarters. A Montana-based U.S. District Court judge on Friday ruled William Perry Pendley, …
El Paso, Las Cruces, and environmentalists oppose El Paso Electric’s power plant project
El Paso Electric’s plan to spend more than $163 million to put a new, natural gas-fired generating unit at its Newman power plant in far Northeast El Paso is being opposed by the El Paso and Las Cruces city governments, the New Mexico attorney general, and environmental groups in El Paso and New Mexico. The …
Energy news in brief
** Oil washed up along parts of a five-mile stretch of a beach on Florida’s Perdido Key on Saturday, less than two weeks after Hurricane Sally made landfall in the area. The U.S. Coast Guard said the oil was discovered Saturday, and samples were collected to determine the source of the oil. ** President Trump’s ban on offshore drilling along …
Corporation Commission to meet Wednesday morning
Oklahoma regulators will hold a regular meeting on Wednesday and once again, it will likely be a remote meeting for all three commissioners because of the ongoing COVID-19 pandemic. The released agenda indicates it will be a routine meeting with the daily signing agenda docket and possible votes on proposed or potential orders in …
OU Energy Institute to Address Innovation in Power Sector in Sept. 30 Webcast
Kevin Fitzgerald, a catalyst and thought leader in the power sector technology investing community, will speak about “Innovation for the New Energy Era” in the University of Oklahoma Energy Institute’s Sept. 30 webcast. Fitzgerald, partner and chief utility officer at Energy Impact Partners, will address the evolution of innovation in the industry in …
Oil prices finish higher, but rise in coronavirus cases feeds demand concerns
Crude-oil futures ended higher Monday, recouping some of last week’s losses, but concerns that the rise in coronavirus cases throughout the globe will lead to weaker energy demand has grown. West Texas Intermediate crude for November delivery climbed 35 cents, or 0.9%, to settle at $40.60 a barrel on the New York Mercantile Exchange. …