OklahomaMinerals.com

Snippets

• Energy Sector Commentary for Monday
  The energy sector is off to a lower start, pressured...

  The energy sector is off to a lower start, pressured by weakness in oil futures. The major market futures inched higher this morning as investors brace themselves for inflation data as well as Fed, ECB and BoJ interest rate decisions later this week.

  
  

  WTI and Brent crude oil futures are extending last week’s losses and are sharply lower as investors attempt to gauge the Federal Reserve’s appetite for further rate hikes against supply concerns and the prospect of higher Chinese demand. A stronger dollar ahead of this month’s Fed meeting is putting additional pressure on energy contracts. Today’s drop in prices has pushed Brent and NYMEX benchmarks to one-month lows.

  
  

  Natural gas futures are down as prelim estimates for EIA storage data (week-ending 9-Jun) had a build of +95 to +105 Bcf vs the 5-yr average of +84 Bcf. However, forecasts are expected to be warmer than normal in the middle of the US, especially Texas and Louisiana.

  Read More
• Halliburton wins major carbon capture contract in United Kingdom
  Halliburton Company announced this week it was awarded a major carbon capture contract in the United...
  Halliburton Company announced this week it was awarded a major carbon capture contract in the United Kingdom. Under the deal for the HyNet North West Project in Liverpool Bay, Halliburton will provide completions, liners, and monitoring products and services for the carbon capture and storage system.
  
  The first CCS project commissioned in the U.K, the HyNet project will apply CCS to reduce carbon emissions in the UK by transporting carbon dioxide captured from industry and storing them in depleted reservoirs underneath Liverpool Bay. Halliburton will manufacture and deliver equipment from its U.K. completion manufacturing center in Arbroath.
  
  
  
   
  Read More
• People still don’t get ChatGPT
  On the unofficial half-birthday of ChatGPT, those of us in the professional class might be surprised...
  On the unofficial half-birthday of ChatGPT, those of us in the professional class might be surprised to know that almost half of U.S. adults (46%) say they’ve never heard of it. Less than 10% have used it, although that’s almost twice the number we saw in January. Of those with an opinion of ChatGPT, 74% of people believe it will be a net job-killer. The numbers are better among younger adults (57%). So, either the majority is right on this one or we have a long way to go to educate them.
  Read More
• Silvio Berlusconi, Italy’s former prime minister, is dead at 86
  Silvio Berlusconi, the brash media mogul who revolutionized Italian television using privately owned...
  Silvio Berlusconi, the brash media mogul who revolutionized Italian television using privately owned channels to become the country’s most polarizing and prosecuted prime minister over multiple stints in office and an often scandalous quarter-century of political and cultural influence, died on Monday at San Raffaele Hospital in Milan. He was 86.
  Read More
• Pemex’s Dos Bocas Refinery Start-up Unlikely Until Late 2023
  Petroleos Mexicanos (Pemex)’s new 340,000 bbl/d Dos Bocas Olmeca refinery is unlikely to start...
  Petroleos Mexicanos (Pemex)’s new 340,000 bbl/d Dos Bocas Olmeca refinery is unlikely to start until late 2023 or early 2024, according to an Industrial Info Resources (IIR) alert.
  
  Located in Tabasco, Mexico, the Olmeca refinery is one of President Andres Manuel Lopez Obrador’s flagship projects to support the development of state-owned Pemex. The previous start of production was planned for July 2023.
  
  Pemex is starting auxiliary services before starting up processing units, pushing its first crude run to late 2023.
  Read More

• Prev
• Next