Oil Prices Decline Following Fluctuations in a Limited Range
Oil witnessed a decline in a volatile session as traders assessed the escalating military activities in the Middle East and the anticipation of increased supplies. The US and UK conducted additional airstrikes against the Houthis on Monday to thwart potential attacks on commercial vessels in the Red Sea. Despite heightened geopolitical tensions, West Texas Intermediate…
Crude Oil Surges to Highest Levels Since November Following Another Assault on Merchant Ship
Oil prices surged to a two-month high following an attack on a fuel tanker near Yemen, highlighting the geopolitical risks to crude supplies. West Texas Intermediate (WTI) reached over $78 a barrel, its highest level since November. The vessel, operated by Trafigura Group, was struck by a missile southeast of Aden, Yemen. Futures for refined…
Current Trends in Austin’s Oil & Gas Industry
The oil and gas industry in Austin is experiencing notable shifts and developments that are shaping the energy landscape in the region. From innovative technologies to regulatory challenges, here’s a closer look at what’s happening in the heart of the Lone Star State. Technological Advancements: Austin, known for its vibrant tech scene, is embracing innovative…
How the Texas Oil and Gas Industry Empowers People of Color
The Texas oil and gas industry, an economic powerhouse known for its contributions to the state’s prosperity, is also making significant strides in promoting diversity and inclusivity. While this sector has been historically dominated by a specific demographic, a growing emphasis on creating opportunities for people of color is reshaping the industry’s landscape. Diversity as…
The Human Cost of Texas’ Oil Triumph
An industry leader in the Permian Basin said the new report proves safety regulations are helping. Other observers say more data is needed to understand the risks of extraction. Groundbreaking reports shed light on the dangerous risks that accompany the extraction of oil and gas. This report was conducted by the Centers for Disease Control…
TXOGA Analysis Finds Texas Production of Oil and Natural Gas Has Achieved New Record Highs, Leading U.S. Production
AUSTIN – Texas’ production of oil, natural gas, and natural gas liquids (NGLs) has achieved new record highs, according to a recent monthly energy economic analysis prepared by Texas Oil & Gas Association (TXOGA) Chief Economist Dean Foreman, Ph.D. TXOGA estimates that Texas set new production records in August 2023, with Texas’ crude oil production…
Exploring the Surge of 12,100 New Oil and Gas Jobs in Texas
The Lone Star State is booming with job growth in the oil and natural gas industry! According to the Texas Oil and Gas Association (TXOGA), the industry has added a whopping 12,100 jobs in 2023 alone, with 1,200 of those jobs added in August. Todd Staples, president of TXOGA, emphasized the importance of the industry…
Will Economic Challenges Dampen the Success of the Supply-Side Rally in the Oil Industry?
According to analysts, a variety of information, such as U.S. inflation data and OPEC’s monthly market report, could impact the price of oil. However, supply-side shortages and economic troubles will ultimately have the most influence on the market this week. Oil prices are currently at levels not seen since November, with West Texas Intermediate (the…
US Oil Firms Under Scrutiny for Russian Business Amidst Ukraine Invasion
The chairman of the U.S. Senate Foreign Relations Committee has requested an explanation from the top three oilfield services companies in the country regarding their decision to continue doing business in Russia following its invasion of Ukraine. He has also demanded that they commit to stopping all investments in Russia’s fossil fuel infrastructure. Senator Bob…
Chevron Acquires Prime Real Estate for New Campus in NW Houston
The oil and gas giant has successfully acquired almost 80 acres of prime land in Bridgeland Central, a highly sought-after planned community that is set to revolutionize the landscape of Bridgeland and Northwest Houston. The owner of this community has confidently positioned it as an urban hub, and we are proud to be a part…
Anadarko Announces Open Season For West Texas Oil Gathering And Treating System
By News Provider HOUSTON, Dec. 13, 2017 /PRNewswire/ — Anadarko Petroleum Corporation (NYSE: APC) today announced its wholly owned subsidiary, DBM Oil Services, LLC (DBMOS), is holding a binding open season to identify interest in a new high-vapor-pressure oil-gathering and treating system serving portions of Reeves, Loving, Ward, and Winkler Counties in West Texas. The DBMOS system is expected to have a gathering capacity…
BridgeTex Pipeline to Further Expand, Launches Supplemental Open Season for Additional Capacity
By News Provider TULSA, Okla. and HOUSTON, Nov. 30, 2017 — Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”) and Plains All American Pipeline, L.P. (NYSE: PAA) (“Plains”) announced today that BridgeTex Pipeline Company, LLC (“BridgeTex”), owned 50/50 by Magellan and Plains, plans to further expand the capacity of the BridgeTex pipeline and has launched a supplemental open season to…
-Advertisement-
