A week after Southern Rock Energy and Prairie Energy announced a possible site in Texas for a $5.56 billion refinery was “less appealing,” the company announced it had chosen Oklahoma’s Cushing Hub for the site of the plant that will create 423 permanent jobs. Business leaders in Cushing are excited over the prospects as …
ONEOK leaders expect quick results from Magellan Midstream acquisition
Shareholders in ONEOK were told this past week their company’s nearly $19 billion acquisition and merger with Magellan Midstream Partners will see quick economic results. During the company’s annual shareholders meeting, Pierce Norton, President, Chief Executive Officer and Director said, “We see value and significant potential for enhanced customer product offerings and export opportunities.” …
Rep. Lucas drone bill wins House Committee support
Oklahoma is ranked number one in the U.S. when it comes to preparedness for the drone industry according to the Mercatus Center at George Mason University, and with that in mind, Congressman Frank Lucas was successful in getting a drone bill passed out of the House committee he chairs. The House Committee on Science, …
Troubled Texas refineries had history of environmental problems
A report shows there were numerous environmental compliance problems at three Texas Gulf Coast refineries that caught fire in separate incidents this month, one that left a worker killed. Oil & Gas Watch reported there was a combined 5,469 violations over a decade but few penalties. Click here for Oil & Gas Watch
Energy briefs
** U.S. natural gas production is expected to rise until 2050, according to a report released Tuesday by the Energy Information Administration (EIA), which said most of the demand fueling that increase will be driven by exports to foreign markets. U.S. domestic gas demand will stay flat or decline as renewables come online, the report found. But …
Five-County transmission line approved in Southeast Kansas
NextEra Energy’s controversial transmission line project spanning five eastern and southeastern Kansas counties has won approval from Kansas regulators. The Kansas Corporation Commission gave its nod of approval to the route that would cut through Coffey, Anderson, Allen, Bourbon and Crawford counties, connecting Wolf Creek nuclear power plant near Burlington to the Blackberry Substation …
Mitchell Talks Energy—the latest edition
Major energy deals involving Oklahoma firms—-they were a key topic of conversation in the latest edition of the “Mitchell Talks Energy” podcast. He and Jerry Bohnen of OK Energy Today take a dive into a $100 million deal for Oklahoma City’s Galvanic Energy, what U.S. Rep. Tom Cole and others feel about “economic coercion” by …
U.S. crude drawdown sends oil prices up
A large unexpected drawdown of U.S crude inventories sent crude oil prices up 2% in Wednesday’s trading. Adding to the impetus was a warning from the Saudi energy minister that raised the possibility of more OPEC+ production cuts. West Texas Intermediate crude in the U.S gained 2% or $1.43 a barrel to close at …
PSO’s $155 million rate hike settlement faced pointed challenges before Judge
The manner in which Attorney General Gentner Drummond’s office handled a recent settlement agreement on the $155 million rate hike request by Public Service Company was criticized by at least two organizations that oppose the request. The Oklahoma Industrial Energy Consumer’s attorney Thomas P. Schroedter objected at the start of an Administrative Law Judge’s …
Crude stocks grew at Cushing Hub while nation’s storage declined in past week
While crude oil stocks at the Cushing Hub grew by nearly 2 million barrels in the past week, the nation’s storage total fell. The U.S. Energy Information Administration reported the nation’s crude stocks fell by nearly 12 million barrels, going from 467.6 million barrels on May 12 to 455.2 million barrels as of May …