Law – Page 4 – Oil & Gas 360

Railroad Commission of Texas -oilandgas360

Notice to Oil and Gas Operators: Temporary Exceptions to Certain Administrative Rules

May 5, 2020

360 Feed Wire In its open meeting today the Railroad Commission of Texas (Commission), in recognition of the unprecedented national and global economic conditions currently impacting the oil and gas industry, took action to provide relief in the form of temporary exceptions to certain administrative rules. Pursuant to item no. 189 on today’s conference agenda, the Commission adopted three orders

Enterprise Wins Favorable Ruling From Texas Supreme Court

January 31, 2020

Enterprise Wins Favorable Ruling From Texas Supreme Court

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs -oilandgas360

Texas-based flatbed carrier with 260 trucks shuts down, citing insurance costs – This is a sign of tough times for Oil Field Service companies.

January 2, 2020

Freightwaves Flatbed truckload operators have been unprofitable for most of 2019 Oil & Gas 360 Publishers Note: We have been watching the Oil Field Service (OFS) take serious losses due to the investor demand for short-term returns. Investors are calling for less CapEx spending, Free Cash Flow (FCF) and ultimately less drilling. Less drilling is adversely affecting the OFS companies

ExxonMobil responds to verdict in suit by New York Attorney General

December 10, 2019

Exxon ExxonMobil today issued the following statement in response to the verdict from the Supreme Court of the State of New York: “Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided our investors with accurate information on the risks of climate change. The court agreed that the Attorney General failed to make

Exxon blasts N.Y. for walking back claims at end of trial

November 8, 2019

Houston Chronicle The New York attorney general’s office dropped its claim that Exxon Mobil Corp. intentionally misled investors about how it accounts for the financial risks of climate change, significantly diminishing the state’s case in the last minutes of a high-stakes securities fraud trial. Assistant Attorney General Jonathan Zweig caused a stir Thursday when he revealed during his closing statement

Tillerson rejects NY claim that Exxon’s climate plan was fake

October 31, 2019

Former Exxon Mobil Corp. Chief Executive Officer Rex Tillerson rejected the New York attorney general’s claim that for years he spearheaded a secret scheme to defraud investors by lying about how the oil company planned for the financial risks of climate change. Tillerson, called as a witness by the state, testified for 3 { hours in Manhattan on Wednesday in

Former Exxon chief Rex Tillerson to testify in climate change fraud trial

October 30, 2019

Reuters Former Exxon Mobil Corp Chief Executive Rex Tillerson is expected to take the stand on Wednesday in a closely watched civil lawsuit accusing the company of hiding the true cost of climate change from investors. The case in Manhattan state court, which kicked off last week, is the first of several lawsuits pending against major oil companies related to

Landmark climate trial turns on whether Exxon cooked the books

October 22, 2019

Houston Chronicle: Last month, millions of people around the globe gathered to protest what they consider a dangerous lack of vision among nations and industries when it comes to combating global warming, and the burning of fossil fuels that causes it. Chief among those singled out were the companies that have, for the better part of a century, profited from

Court suspends Alberta law curbing oil and gas flows to British Columbia

September 24, 2019

Source: Reuters A Canadian court on Tuesday granted a temporary injunction against legislation enabling the province of Alberta to restrict the flow of oil and gas to neighboring British Columbia. Alberta enacted Bill 12, dubbed the “turn off the taps act” in May, after it was passed by the previous provincial government in retaliation for British Columbia opposing the expansion

SEACOR Marine Announces Departure of COO - Oil & Gas 360

Galveston Company Enters Race to Supply IMO 2020 Fuels

August 28, 2019

From The Houston Chronicle With a massive shift in the marine fuel market just months away from implementation, a Galveston fuel storage operator says it plans to operate a 50,000 barrel a day crude processing facility to meet new stricter environmental regulations set to take affect in January. Texas International Terminals confirmed Wednesday reports from Reuters that it plans to

In Britain, Electric Cars Could Store Renewable Energy for Grid: National Power Co. - oil & gas 360

Colorado Joins California in Requiring Automakers to Sell More Electric Cars

August 26, 2019

From CNBC Colorado has become the 11th state to adopt California’s zero-emission-vehicle mandate forcing automakers to sell more electric cars in the state. The new rule was passed by Colorado’s air-quality commission by a vote of 8 to 1 on Aug. 23. It requires at least 5% of an automaker’s new car lineup to be electric vehicles, or EVs, by

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

Citgo’s New CEO Confident in an Uncertain Time

August 23, 2019

From The Houston Chronicle Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it and its parent company’s role in an alleged foreign bribery scheme. And its facing mounting pressure to do something about

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