The summer driving season is here and with it an increased demand for gasoline which in turn caused a drop in the amount of domestic crude oil in storage at the Cushing hub in northern Oklahoma. Reports indicate inventories at Cushing fell by 1.5 million barrels in the week leading up to June 25 …
Kansas City Southern and Midstream Texas Operating LLC announced a long-term commercial agreement to provide truck-to-rail transloading services for petroleum and petrochemicals from Corpus Christi, Texas into Mexico. Operations are expected to begin in fourth quarter 2021. “KCS is looking forward to working with MTO to expand infrastructure to supply petroleum products to Mexico …
** General Motors Co is investing in a U.S. lithium project that could become the country’s largest by 2024, making the automaker one of the first to develop its own source of a battery metal crucial for the electrification of cars and trucks. ** Three major European truck manufacturers – Daimler Trucks, AB Volvo and Traton – …
The $715 billion transportation infrastructure and green energy measure passed by the House on Thursday did not have the support of Oklahoma Representatives. All five voted against the measure which passed 221 to 201 with all Democrats and two Republicans supporting the INVEST in America Act. Rep. Markwayne Mullin issued a statement following the …
Corn states members of Congress who were upset over this week’s U.S. Supreme Court victory for CVR Refinery in Wynnewood, Oklahoma and a few other small refinery operators, responded Friday with a newly-drawn bill aimed at limiting exemptions on mandated blended biofuels. The Wynnewood refinery and those run by Holly Frontier now have a …
Concerns over competition led to a Friday announcement by the Federal Trade Commission concerning 7-Eleven’s $21 billion purchase of 4,000 Speedway stores in 36 states. The FTC said 7-Eleven Inc. and Marathon Petroleum Corp. agreed to divest from locations in nearly 300 markets. Click here for story from Springfield News-Sun in Ohio. .
President Biden’s cancellation of the permit allowing construction of the Keystone XL pipeline is coming back to haunt him as developer TC Energy Corp announced it wants $15 billion in damages from the U.S. government for his actions. The Canadian pipeline operator said on Friday it had filed a notice of intent to begin a …
Another significant blow against the ethanol industry was delivered Friday by a Federal appeals court which threw out a Trump-era Environmental Protection Agency rule change that allowed for the sale of a 15% ethanol gasoline blend in the summer months. The Associated Press reported most gasoline sold in the U.S. today is blended with …
A race is underway among the nation’s oil refineries as operators explore way to increase their production of gasoline as Americans hit the road during the summer driving season. Reports suggest some refiners are buying low-sulfur vacuum gasoil or VGO to maximize their fuel production while at the same time not increasing their crude …
Oklahoma congresswoman Stephanie Bice joined Democratic Pennsylvania U.S. Rep. Conor Lamb this week in introducing legislation to authorize more than $162 million over five years to research development of better ways to clean up abandoned oil and gas wells. Their bill has the support of Oklahoma Rep. Frank Lucas, the ranking Republican on the …
