Oil

Gulf Coast refineries are welcoming the surge from Venezuela during the prolonged Strait of Hormuz closure that’s virtually halted imports from Iraq and Saudi Arabia.

The December 2022 rupture was one of the largest inland oil spills in recent history, and the $40 million will go toward work on the pipeline to prevent future similar spills, a news release from the U.S. Justice Department said.

Business is booming for exports, but consumers are feeling the pinch.

Railroad Commissioner Jim Wright led the agency's efforts to reform oilfield waste rules. Oil billionaires are now backing Bo French to unseat him.

A judge ruled Senate Bill 13, passed in 2021, violated the First and Fourteenth Amendments. The law prevented state investments in firms it deemed as boycotting oil and gas companies.

Refineries in Texas and along its Gulf Coast could get a boost from Venezuela's heavy crude. But oil producers might hesitate to get involved in the country while its future remains uncertain.

Senate Bill 1150, which is on its way to Gov. Greg Abbott, is a rare example of the Texas Legislature regulating the state’s oil and gas industry.

The Senate Energy Committee passed the proposed legislation in a Thursday meeting.

Attorney General Gentner Drummond joined the challenge last year against Democrat-led states that filed lawsuits against fossil fuel entities like BP, Exxon Mobil and the American Petroleum Institute.

Oilmen against limits on oil production attacked a state representative at the Stephen F. Austin hotel in 1933. The attack would influence senators voting on the Railroad Commission's authority.