New Mexico residents sue seeking to block oil and gas permitting

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Lawsuit says oil and gas development violates constitutional rights Oil, gas development has grown nearly tenfold in past 10 years May 10 (Reuters) – New Mexico residents on Wednesday sued the state seeking to suspend new permitting for oil and gas production, claiming the government’s approvals for fossil fuel projects, without proper oversight, violates a …

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Legal Drugs in the Energy Workplace — What Could Go Wrong? – Geoffrey Cann

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By Geoffrey Cann Heavy industry has long known that intoxication and some kinds of work simply don’t mix. Digital technologies are helping overcome the risk of hard-to-detect intoxicants on the job site. Many years ago, I was travelling for work and my company credit card was declined at an airport for exceeding its very healthy credit limit. Being stranded …

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Investors Dumped Oil, Curtailing OPEC⁺ Driven Rally – John Kemp

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LONDON, May 9 (Reuters) – Portfolio investors have dumped petroleum futures and options, reversing the buying frenzy inspired by the production cuts announced by Saudi Arabia and its OPEC⁺ allies at the start of April. Hedge funds and other money managers sold the equivalent of 145 million barrels in the six most important futures and …

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Occidental Announces First Quarter 2023 Results

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HOUSTON, May 09, 2023 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced its first quarter 2023 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company will hold a conference …

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Riverbank erosion prompts Wisconsin band to ask for emergency shutdown of Line 5

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WASHINGTON — An Indigenous band is asking a Wisconsin judge to order an emergency shutdown of the Line 5 pipeline. The Bad River Band of the Lake Superior Chippewa says ongoing spring flooding risks exposing and rupturing the pipeline on its territorial land. The band has asked District Court Judge William Conley, who is presiding …

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Valero Energy CEO Joseph Gorder to step down, insider Riggs to succeed

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May 9 (Reuters) – U.S. refiner Valero Energy Corp (VLO.N) said on Tuesday CEO Joseph Gorder would step down from the role on June 30 and named Chief Operating Officer Lane Riggs as his successor. Gorder has led Valero as CEO since May 1, 2014 and served as chairman of the board since Dec. 31, 2014. Gorder …

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Column: Asia’s collapsing refinery margins undermine bullish crude case

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LAUNCESTON, Australia, April 18 (Reuters) – There is an increasing disconnect between the forecasts for strong global oil demand growth this year, led by Asia, and the reality of weakening margins for refined fuels. The profit from turning a barrel of Dubai crude into refined products at a typical Singapore refinery dropped to $2.53 a …

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