Monday is the deadline for the Oklahoma Corporation Commission and its staff to comply with a subpoena issued by Attorney General Gentner Drummond who is investigated suspected market manipulation of natural gas costs during the 2021 Winter Storm Yuri. It was early November when Drummond fired off his subpoena in response to Corporation Commissioner …
Oklahoma Attorney General Gentner Drummond commended state regulators after they took action last week to reinstate a 2.5% residential rate cap for customers of Public Service Company of Oklahoma. The Corporation Commission voted 2-0 to follow through with the Attorney General’s request after the members previously voted 2-1 in support of a lower PSO rate …
(Jim Watson/Pool via AP) The sudden transfer of the man who led counterintelligence at the U.S. Energy Department following a critical report prompted Oklahoma U.S. Sen. James Lankford and others to raise questions to Energy Secretary Jennifer Granholm. He and several other Republican Senators are raising alarm bells over the sudden transfer of Steven Black …
Crude oil prices fell 1-2% in Friday’s trading following the Thanksgiving Holiday, but Oklahoma energy stocks recorded small gains for the day. The drop in crude came after the release of some hostages in Gaza, a move that eased Middle Easst worries. It turned out to be the first week of price gains in more …
Reduced oil and gas revenue is having a growing impact on Oklahoma’s tax revenue, falling more than 25% over the past year. State Treasurer Todd Russ reported the state’s gross receipts for the last 12 months of $17.07 billion are more than $167 million or 1% below revenues from a year ago. He blamed …
** An estimated 1.1 million gallons of crude oil have spilled into the Gulf of Mexico since Nov. 16, with emergency officials scrambling for nearly a week to locate the source of the leak and determine whether an underwater pipeline had ruptured off the Louisiana coast. ** Occidental Petroleum Corp, W&T Offshore Inc and Talos …
The CVR Refinery at Wynnewood in southern Oklahoma is among a handful of small refineries that won an Appeals Court battle with the EPA over renewable fuel standard program obligations. The U.S. Court of Appeals for the Fifth Circuit ruled in favor of a group of sixsmall refineries that the Environmental Protection Agency had …
Trading on the day before Thanksgiving resulted in a 1% for crude oil prices and a mixed day of trading for Oklahoma energy stocks. The fall in crude prices came as OPEC+ announced a delay until Nov. 30 for its meeting to discuss more possible cuts in crude oil production. Both Brent and WTI experienced …
The buildup of crude oil stocks in the U.S. continued for another week and the increase included the amount of oil stored at the Cushing Hub in Oklahoma. The nation saw an increase of 8.7 million barrels of crude oil from November 10 to November 17, according to the U.S. Energy Information Administration. The …
The latest rig report from Baker Hughes Co., prior to Thanksgiving, showed another gain for the U.S. and for Oklahoma. The state’s rig count saw a gain of one to 38 active oil and gas rigs, still well below the 70 rigs reported one year earlier. The Baker Hughes report indicated Oklahoma started the …