January 29, 2020

The American Petroleum Institute has named the CEO and chairman of Phillips 66 as its new chairman….
 

January 29, 2020

The Texas Petro Index dropped for 10 straight months in 2019, ending at 193.6 — down 9.1% from the December 2018 TPI of 213.1…..
 

January 29, 2020

Texas active midstreamer Southcross Energy Partners LP has a bankruptcy court’s okay for a reorganization, while a driller and a pipeline company make their bankruptcy filings…..
 

January 28, 2020

Austin Energy and San Antonio’s CPS Energy are winners of Best Practices awards from the Smart Energy Consumer Collaborative (SECC).….
 

January 28, 2020

The Railroad Commission of Texas has launched two more interactive data maps showing oil and gas drilling permit approvals and the number of wells spudded, which is when operators begin drilling a well. Information is displayed by counts, operators, county locations and on a statewide level. The data is available 24-hours a day, seven days a week beginning with Calendar Year 2018…..
 

January 28, 2020

FirstEnergy Corp. is planning on getting into the energy brokerage business…..
 

January 27, 2020

The American Gas Association says it’s committed to fighting climate change and has laid out principles of policy action….
 

January 27, 2020

Camber Energy, having just recently dropped its plans to merge with Lineal Star Holdings, is now in a proposed merger with Viking Energy Group…..
 

January 27, 2020

O&G developer U.S. Energy Corp. has regained compliance and will continue to be listed on the Nasdaq…..
 

January 26, 2020

The Valero Energy Corporation board of directors has promoted three of their top employees, including one who’ll serve as the new CEO…..
 

January 26, 2020

The South Texas O&G-related Killam family is betting that the US-Mexico-Canada Agreement is going to bring explosive growth to the state, so they’ve bought up 3,400 acres in the McAllen and Mission areas for commercial and residential uses….
 

Updated 4;40 pm CST

January 24, 2020

Officials say a “massive explosion” early this morning in the Northwest Houston area resulted in the deaths of two people, and damage to possibly 200 nearby homes……
 

January 24, 2020

The Flying J and Pilot truck stops you see along Texas highways are increasingly part of a larger-branded energy and fuel company, as The Texas Energy Report pointed out last June — and now it’s simplifying its name to simply “Pilot Company.”….
 

January 23, 2020

Annova LNG has a new agreement with a major pipeline builder and operator to supply the Houston company’s Port of Brownsville facility…..
 

January 23, 2020

A Houston company is buying three of Magellan Midstream Partners‘ US marine terminals as the Tulsa pipeline operator concentrates its asses in Texas marine operations….
 

January 23, 2020

A Sentinel Midstream LLC subsidiary has new financial support from a Connecticut-based commodities merchant for construction of the Texas GulfLink export facility….
 

By Alex Mills

January 23, 2020

Energy prices in the U.S. will be flat this year as production of crude oil and natural gas will set records, again, according to projections by the Energy Information Administration (EIA) at the Department of Energy.

EIA forecasts Brent crude oil spot prices, the international benchmark, will average $65 per barrel in 2020, compared with an average of $64 in 2019. EIA expects West Texas Intermediate (WTI) crude oil prices will average about $5.50 per barrel lower than Brent prices through 2020, compared to about $7.35 in 2019.

U.S. regular gasoline retail prices averaged $2.60 per gallon in 2019, and EIA forecasts that they will average $2.63 in 2020.

EIA forecasts that Henry Hub natural gas spot prices will average $2.33 per million British thermal units (MMBtu) in 2020, down from $2.57 in 2019….
 

January 22, 2020

In a time when the shale activity slowdownis forcing other oil services companies to take huge charges, Baker Hughes on Wednesday said it brought in a profit during the final quarter of 2019, even if it didn’t meet the street’s expectations….
 

January 22, 2020

The chairman and CEO of Phillips 66 will serve as chairman of the American Petroleum Institute‘s Chairman of the Board…..
 

By Alex Mills

President Trump signed an agreement with China this week that will increase trade between the two countries in many sectors of the economy especially for agriculture, manufacturing and energy.

During the signing ceremony at the White House on Wednesday, Trump said the deal will mean some $200 billion dollars to U.S. economy. U.S. energy exports will increase $18.5 in 2020 and $33.9 billion in 2021 from current levels, according to the agreement.

China already imports a variety of hydrocarbons from the U.S., and its potential is much larger because of its growing economy and lack of production in China. China imported 84 million barrels of oil from the U.S. in 2018, which is 11 percent of total U.S. oil exports, according to the Energy Information Administration. The largest importers were Canada with 160 million barrels and South Korea with 88 million barrels.

Opening of new international markets would benefit U.S. producers in general and Texas producers specifically. Texas is the largest producer in the U.S. and it is located relatively close to export terminals on the coast of the Gulf of Mexico. Refiners and transporters would see business increase, also…..