Surging US refinery activity weighs on oil supplies
US crude oil and gasoline inventories slid by 1 million barrels and 482,000 barrels, respectively, last...
US crude oil and gasoline inventories slid by 1 million barrels and 482,000 barrels, respectively, last week, while distillate stockpiles added 1.7 million barrels, the Energy Information Administration reported. US refining capacity utilization climbed more than expected last week, to 93.2%, the highest since late December 2019, the EIA data show.
Flowcarbon, a carbon credit startup co-founded by WeWork's Adam Neumann, raised $70 million in its recent...
Flowcarbon, a carbon credit startup co-founded by WeWork's Adam Neumann, raised $70 million in its recent funding round. "Flowcarbon's mission is to drive billions of dollars directly to projects that reduce or remove carbon from the atmosphere by creating the first open protocol for tokenizing live, certified carbon credits from projects around the globe," the company said.
Coterra executive sells nearly $2 million in company shares
An executive with Coterra Energy, one of the oil and gas firms with active operations...
An executive with Coterra Energy, one of the oil and gas firms with active operations in Oklahoma sold off nearly $2 million in company shares this week.
A company filing with the U.S. Securities Exchange Commission revealed the move by Francis Brian Barron, Senior Vice President and General Counsel for Coterra in Houston.
On May 23, Barron listed the sale of 50,000 company shares valued at $31.83 each. The sale was worth $1,591,500.
Two days later on May 25, Barron sold 10,000 more shares at a value of $33.52 each. The sale was valued at $335,200.
OK Energy Today: Cushing reports slow decline in crude oil stocks
The amount of crude oil stored at the Cushing hub in northern Oklahoma continues to decline falling...
The amount of crude oil stored at the Cushing hub in northern Oklahoma continues to decline falling by nearly 1 million more barrels over a week.
The U.S. Energy Information Administration reported that as of May 20, there was a total of 24,778,000 barrels of oil estimated to be in storage at Cushing. It was down from the 25,839,000 barrels stored there as of May 13, 2022.
At the end of April, Cushing held 28,800,000 barrels of crude oil. At the start of 2022, the amount of crude in storage at the hub was 34,838,000 barrels.
The decline in crude held at Cushing has been dramatic over the past year. The EIA reported that a year ago, Cushing had 44.8 million barrels in storage.
