Providing more than a third of the state’s fiscal year 2020 budget, the oil and gas industry came under attack this week from both the U.S. Environmental Protection Agency and the New Mexico Environment Department. A new analysis from the nonpartisan New Mexico Tax Research Institute reports state revenue from oil and natural gas production in New Mexico totaled $2.8 …
ALBUQUERQUE, N.M. (AP) — Oil and gas development infused $2.8 billion into New Mexico coffers during the 2020 fiscal year and marked its second-highest total revenue ever reported despite a global price war and plummeting demand amid the coronavirus pandemic, according to a report released Monday. The New Mexico Oil and Gas Association commissioned the nonprofit New Mexico Tax Policy …
Some folks in the western part of the country hope certain campaign promises are let to slide. A ban on oil and natural gas development on public lands by President-elect Joe Biden would severely harm the economies of eight western states, especially New Mexico, according to a study released Monday. After discussing the report with the News-Sun, state Rep. Larry …
The Wells Fargo branch in Eunice will permanently close its doors in March of 2021. The Wells Fargo branch will close on March 10 at noon. Until then, the bank will operate normal business hours. The nearest Wells Fargo location will be 20 miles away in Hobbs or in Jal. Wells Fargo’s New Mexico Communications Advisor Franchesca Pancham explained the …
BILLINGS, Mont. (AP) — Payments to states in the U.S. West have plummeted for oil, natural gas and coal extracted from U.S. lands after low crude prices and the pandemic slowed drilling and mining in many areas in 2020, according to federal data. Nationwide, payments to states for drilling on public lands and in U.S. waters were down by $630 …
FRANKFURT, Germany (AP) — OPEC and allied countries including Russia agreed Thursday to increase oil production by 500,000 barrels a day from January and said they would meet monthly to decide further output levels, gingerly adding more crude to a global economy still suffering from the COVID-19 pandemic. The decision followed days of wrangling over whether to increase output early …
The only Wells Fargo bank location in Hobbs closed its doors this week after an employee tested positive for COVID-19. On Monday, the Hobbs branch of Wells Fargo closed for two weeks after an unnamed employee tested positive for COVID-19. The bank will remain closed until Dec. 15, according to Franchesca Pancham, communications advisor for Wells Fargos in New Mexico. …
FRANKFURT, Germany (AP) — Leaders of the OPEC oil cartel adjourned their virtual meeting Monday on future production as no agreement was announced on whether to extend output cuts into next year. The OPEC nations, led by Saudi Arabia, will reconvene Tuesday, according to a short statement from the cartel’s Vienna headquarters. The talks will include additional members from a …
Three New Mexico cabinet secretaries in a live remote panel concluded the fourth EnergyPlex Conference last week with discussion of economic development, methane rules and legislative priorities. The Economic Development Corporation of Lea County sponsored and facilitated the conference that included both pre-recorded and live presentations. Economic Development Department Secretary Alicia Keyes credited the current coronavirus pandemic for giving special …
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States “OPEC has been and …
