Blacklisted in Oklahoma and Texas because its ESG policies discriminated against the oil and gas industry, BlackRock launched an effort this week to create a friendlier relationship with Texas. The firm’s Chief Executive Larry Fink attended an energy investment summit in Houston on Tuesday and discussed matters with Republican officials. Reuters reported State Lieutenant Governor …
Energy quick reads
** The top five Western oil and gas firms – BP, Chevron, Exxon Mobil, Shell and TotalEnergies – returned to shareholders over $111 billion in dividends and share repurchases in 2023, according to Reuters calculation. ** US oil output will expand by only 160,000 barrels per day this year, a dramatic slowdown from the 1.02 …
AARP on PSO rate hike request—“staggering”
Opposition to the $218 million rate hike request filed by Public Service Company of Oklahoma is already in the works. AARP Oklahoma warned its members “PSO customers could soon be facing a massive rate hike and AARP Oklahoma vows to once again fight the unfair rate hike.” “We’re currently reviewing the details of PSO’s …
PSO wants higher rates–customers might see up to an 11% hike
Public Service Company of Oklahoma wants to increase rates—again. It recently filed a request with the Oklahoma Corporation Commission for a $218 million rate hike which if approved, would bump residential customers rates by at least another 7% or $10 more a month. “There are a number of reasons why PSO filed this case, …
NGL wraps up late shareholder payments
NGL Energy Partners LP caught up on some late payments this week to its shareholders and at the same time offered cash distributions of more than $115 million to other shareholders. The Tulsa company’s Board of Directors of the general partner declared a distribution of 50% of the “arrearages” earned through Dec. 31 of …
Nearly 100 Oklahoma car dealers want biden to back off his EV push
With no end in sight as to how many more billions of dollars the Biden administration wants to pour into electric vehicles, the list of car dealerships who oppose the effort has swelled to nearly 4,900 across the U.S., including nearly 100 in Oklahoma. “Mr. President, it is time to tap the brakes on …
Crude oil prices gained on drop in gasoline supplies
A big drop in U.S. gasoline stocks sent crude oil prices up nearly 1% on Wednesday and at the same time, Oklahoma energy stocks recorded increases. West Texas Intermediate crude rose 55 cents or 0.75% to finish at $73.86 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude finished 62 cents higher …
Manchin to begin probe into Biden’s freeze on LNG shipments and permits
It was late January when President Biden froze new licenses to export LNG and immediately, West Virginia Sen. Joe Manchin, a Democrat like the President, ripped into his decision. “If the Administration has the facts to prove that additional LNG export capacity would hurt Americans, they must make that information public and clear,” he …
Potential for state wildfires keeps firefighters alert
Despite recent rains that were recorded in some parts of Oklahoma, wildfires have kept firefighters busy in the past week, including one that burned more than 300 acres in the southeast. The Oklahoma Forestry Division on Wednesday reported six fires in the southeast burned more than 367 acres. The Pickens Creek Fire in Pushmataha …
Corporation Commission to meet Thursday
Oklahoma Corporation Commissioners continue their review of certain changes rules in a meeting scheduled for Thursday afternoon at the state capitol. The rule changes will apply to telecommunications services and Gas & Hazardous Liquid Pipeline Safety. Discussion, hearing, and possible vote(s) in Case No. RM2023-000017, In the Matter of a Permanent Rulemaking of the …