Texas oil company agrees to pay $115K for spilling nearly 20,000 gallons of wastewater, crude in Wyoming
– A Texas oil company has agreed to pay a $115,000 fine after spilling almost 20,000 gallons (73,000 liters) of wastewater and crude in western Wyoming, federal officials said Wednesday. The 2018 spill by Merit Energy Company came after a pipeline broke at a battery of oil tanks northwest of Thermopolis, Wyoming, according to the settlement. Some of the spilled water and oil reached Grass Creek, a tributary of the Big Horn River. An Environmental Protection Agency Investigation found that the Dallas-based company did not have an adequate emergency response plan in place as required under the federal Clean Water Act. The company has since submitted a new response plan and completed a cleanup of the site.
Texas Gov. Greg Abbott hosts roundtable on oil, gas
Greg Abbott on Thursday held a roundtable discussion in Odessa with energy workers, leaders, and advocates on how Texas can continue to support the energy industry and its workers and ensure a more prosperous future for the state of Texas. Following the roundtable, the Governor held a press conference where he issued an executive order to protect Texas’ energy industry from federal overreach. During the roundtable, Abbott and the participants also discussed enhancing workforce development in Texas, cutting costly red tape, and expanding broadband access in rural communities. Greg Abbott pushes deregulation San Antonio during ‘listening session’ on Texas economyTexas Gov. Greg Abbott pledges to make it ‘fiscally impossible’ to defund police
OPEC maintains 2021 oil demand growth forecast, warns outlook clouded by pandemic fears
LONDON — Oil producer group OPEC on Thursday kept its 2021 forecast for global oil demand growth unchanged, but warned uncertainties over the impact of the coronavirus pandemic remain high. The closely-watched oil market report comes as coronavirus cases continue to surge worldwide, with new lockdowns imposed in Europe and parts of China. The 13-member group said it expected global oil demand in 2021 to increase by 5.9 million barrels per day year-on-year to average 95.9 million barrels per day. The group said world oil demand growth in 2020 declined by 9.8 million barrels per day year-on-year to average 90 million barrels per day. "Accordingly, oil demand is anticipated to rise steadily this year supported primarily by transportation and industrial fuels," the group said.cnbc.com
Valero expects billion-dollar first-quarter loss as it shutters plants
SAN ANTONIO – Editor’s note: This story was published through a partnership between the San Antonio Business Journal and KSAT. Valero (NYSE: VLO) issued new guidance on its first quarter 2020 results, predicting a net loss attributable to shareholders of $1.8 billion to $2.1 billion on revenue of $20.1 billion to $22.2 billion. The selling price of ethanol, in particular, has fallen sharply, and as a consequence, Valero has temporarily suspended operations at eight of its plants and reduced output at the remaining six. It is not known which plants were closed, nor when they were closed and when they will reopen, if they haven't already. Read the full story at the San Antonio Business Journal.