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In a letter to Senate Majority Leader Mitch McConnell, R-Ky., American Petroleum Institute President Jack Gerard said Thursday his group “strongly supports” the legislation, named the Energy Policy Modernization Act.
The use of LNG and compressed natural gas — another new CNG fueling station opened Thursday in Houston — in commercial vehicles has rapidly expanded because of the nation’s cheap and bountiful supply of natural gas.
That’s 38 percent higher than Rystad’s previous estimate last July, and the number of projects that have been delayed since then has risen from 40 to 63.
San Antonio-based Valero Energy Corp. reported a 9.5 percent drop in fourth quarter earnings that strongly outperformed what analysts were expecting from nation’s largest independent oil refiner.
The discussions over production cuts are likely happening now because of the severe economic pain that Russia, one of the most resource-rich nations on the planet, has felt as oil prices have crashed.
The price of oil rose 6 percent Thursday as the Russian government continued talks with Saudi Arabia and OPEC about cutting production.
Ninety-nine percent of BG Groups shareholders approved the deal.
Eighty-nine years after Jean Goldkette and his Orchestra recorded ‘I’m Looking Over a Four-Leaf Clover’, and the crude complex is once again crossing its fingers and hoping for some good fortune to lift prices. Today the market is putting its faith in a coordinated cut to oil production from key producers including OPEC and Russia. […]
Most business owners that the Fed surveyed indicated they were becoming increasingly pesmistic about the Texas economy in the face of falling oil prices.
Karnes County is still pumping more crude oil than any other county, with 6 million barrels produced in November.