As a result of the decision announced this week by Tulsa’s Alliance Resource Partners to temporarily shut down coal mining operations in Illinois, hundreds of employees were furloughed. Alliance did not refer to the furloughs or temporary layoffs at the time of its announcement. But the decision left hundreds of employees furloughed at Riverview Coal …
Oklahoma City-based Enable Midstream Partners, LP announced it is not only cutting its dividend payments this year but also reducing its 2020 capital expenditures by 48%. The 48% cut in capex totals about $115 million including an estimated $70 in maintenance capital. “Due to the sharp decline in commodity prices and producer activity across our …
BP slashed its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business in the face of the recent collapse in oil prices due to corononavirus, it said on Wednesday. The London-based company said it now plans to spend $12 billion this year, down from $15 billion. …
Georgia U.S. Sen. Kelly Loeffler just disclosed more stock trades, including shares in retail companies she sold and ones she bought in Dupont, which makes medical supplies, The Atlanta-Journal Constitution reported. She and a handful of other Senators, including Oklahoma U.S. Sen. Jim Inhofe grabbed headlines for stock sales made after a Senate Intelligence …
A report by the Houston Business Journal says oil field services giant Schlumberger Ltd. is making further changes to its operations as a new downturn grips the oil and gas industry, changes that will include layoffs, furloughs and other moves to save money. The company will accelerate efforts to restructure its land-based operations, which will include a …
The Oklahoma Energy Producers Alliance is calling on the Oklahoma Corporation Commission to exercise its authority to prevent the waste of Oklahoma’s oil during this unprecedented oil price collapse. “Oklahoma oil is now selling below $20 per daily barrel, which is a price well below its “actual value” and the Oklahoma Corporation Commission should take …
As U.S. crude inventories rose in the past week to their highest level since 2016, oil prices on Wednesday fell again and gasoline demand dropped sharply over the coronavirus pandemic. GasBuddy reported several gas stations in Oklahoma City pumped gasoline at 99 cents a gallon. West Texas intermediate crude fell by 17 cents or 0.8% …
State regulators in Oklahoma are attempting to comply with an order from Gov. Kevin Stitt for all state agencies to identify costly, ineffective, duplicative and outdated regulations. Gov. Stitt issued Executive Order 2020-03 on February 3 of this year and this week, the Corporation Commission’s Petroleum Storage Tank Division launched an effort to identify rules …
The American Petroleum Institute announced Tuesday it would consolidate its state-level advocacy work into regional offices in eight states and close offices in 15 state capitals. The new regional teams will be based in Denver; Springfield, Ill; St. Paul, Minn.; Columbus, Ohio; Harrisburg, Pa.; Boston; Raleigh, N.C.; and Tallahassee, Fla., and are on track …
** Senate Energy and Natural Resources Chairwoman Lisa Murkowski is pressing federal energy statisticians to publish data on oil storage capacity to help domestic producers navigate a flooded global market. ** The Trump administration defended its decision to finalize the rollback of clean car standards during the novel coronavirus crisis, prompting praise from conservatives and lawsuit threats …