Southeast New Mexico’s Permian Basin shaken by more earthquakes
One of the latest earthquakes to shake the Permian Basin happened Thursday morning in...
One of the latest earthquakes to shake the Permian Basin happened Thursday morning in Carlsbad, New Mexico.
It occurred as researchers expanded their investigation of oil and gas drilling in the large shale area that is believed to be the cause of increased earthquakes—much like what occurred in Oklahoma a few years ago.
The Carlsbad earthquake measured 4.7 magnitude and hit about 7:35 a.m. with an epicenter about 35 miles south of White City according to the U.S. Geological Survey. Nearly an hour later, a 3.0 magnitude quarter shook the area. The two quakes followed a 12:43 a.m. quake that registered 3.1 magnitude as well as two late Wednesday night quakes that measured 3.0 magnitude.
The Texas Tribune recently reported more than 200 earthquakes of 3.0 magnitude or greater shook Texas in 2021, more than double the 98 recorded in 2020.
Fearing a windfall tax, this oil company is cutting gasoline prices at its pumps.
Windfall taxes on oil companies are the talk around the world as consumers grapple with high energy costs. ...
Windfall taxes on oil companies are the talk around the world as consumers grapple with high energy costs. Lawmakers in France have proposed a tax of as much as 25% on energy and transport giants.
France’s TotalEnergiesTTE, 1.34% is trying to head one off by committing to cut prices. The company said it will cut fuel prices by 20 Eurocents a liter compared to global market prices from September to November, and a 10 Eurocents a liter reduction from November to the end of the year.
“We prefer to make an immediate and direct contribution to our customers, rather than an indirect tax which would penalize our refineries,” said Patrick Pouyanné, chairman and CEO of TotalEnergies.
TotalEnergies operated 3,479 service stations in France last year. TotalEnergies shares edged higher on Friday and have rallied 35% this year.
Benchmark U.S. crude oil for September delivery fell $3.53 to $96.35 a barrel Thursday....
Benchmark U.S. crude oil for September delivery fell $3.53 to $96.35 a barrel Thursday. Brent crude for September delivery fell $3.06 to $103.86 a barrel.
Wholesale gasoline for August delivery fell 13 cents to $3.15 a gallon. August heating oil fell 1 cent to $3.59 a gallon. August natural gas fell 7 cents to $7.93 per 1,000 cubic feet.
The U.S. Energy Information Administration (EIA) said utilities added just 32 billion cubic feet (bcf)...
The U.S. Energy Information Administration (EIA) said utilities added just 32 billion cubic feet (bcf) of gas to storage during the week ended July 15.
That was much less than the 47-bcf build analysts forecast in a Reuters poll and compares with an increase of 50 bcf in the same week last year and a five-year (2017-2021) average increase of 41 bcf.
Harvest Buys Remaining Interest in Arrowhead Gulf Coast Holdings
Harvest Midstream purchased the remaining interest in Arrowhead Gulf Coast Holdings LLC, making...
Harvest Midstream purchased the remaining interest in Arrowhead Gulf Coast Holdings LLC, making Harvest the sole owner of the company, a press release announced on July 20.
Arrowhead's operations include 300 miles of pipelines and terminal assets in southern Louisiana used for the transport of crude oil and condensate, including the BOA/CAM pipelines that supply crude to the Valero Meraux and PBF Chalmette refineries.
The company's other pipeline and terminal assets include Golden Cocodrie, Atchafalaya, Eugene Island, Erath Tank Farm, Burns dock, Burns terminal and Sabine.
Prior to Harvest signing, funding and closing on the transaction, it held a 62.5% stake in the company, with BlackRock Real Assets owned the remaining 37.5% stake.
