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Prices at the pump go up along with refining margins

By John P. Tretbar

Kansas operators have spudded 80 new wells so far this year, down two wells compared to a year ago. Total perforated size decreased by 41%. The Independent Oil & Gas Service reports that the number of active systems throughout the state is 47, down four systems compared to a week ago and increasing four plants compared to a year ago. The Kansas regulatory authorities have approved 26 new perforation permits last week, 113 so far this year, with an increase of about 63% compared to last year at this time. The Kansas Corporation Commission has approved two new perforation sites in the county of Barton and two in the County of Ellis, out of 10 new permits in Western Kansas. The operators in Kansas completed 34 wells in the week until January 26, including three in the county of Barton and three in the county of Ellis.

Baker Hughes has reported 771 perforation systems active in the United States on Friday, with the count of oil down four systems and the gas of four. The counting in Louisiana has fallen by three platforms. New Mexico has risen to three. North Dakota was ahead of two.

The Keystone eave operator last week said he had recovered 90% of the crude oil that poured into a Kansas stream almost two months ago. According to the announcement, the crews are using empty skimmer and trucks, in addition to mechanical removal, to recover oil and water from Mill Creek and the coast in the County of Washington. Tc Energy is deviating the water of the stream around the spill while the recovery efforts continue.

The profit margins in the refining sector continue to grow in parallel with the prices of petrol and diesel. A Reuters report states that the difference between the costs of crude oil and the yields on finished products reached a maximum of three months last week, almost three times the average of January. Analysts say that the so -called “crack spread” is likely to increase due to the interruptions of the refineries and the low fuel supplies. According to the AAA Auto Club, the normal petrol prices in the United States increased by eight cents compared to a week ago, while the diesel has increased by about a penny. In Kansas the price at the pump for normal has increased by 15 cents compared to a week ago, while the diesel has increased by 11 cents.

Eia reported an increase in domestic crude oil for the fifth consecutive week. The stocks increased by half a million barrels to 448.5 million to 20 January. This is about three percent above the five -year average for this period of the year.

The normal petrol stocks increased by almost two million barrels compared to a week ago, while deliveries decreased by almost five percent compared to last year. Diesel stocks are down for the fourth consecutive week. Deliveries decreased by 14% compared to last year.

The government reported a slight drop in crude oil production in the United States last week, but production remains greater than 12.1 million barrels per day, compared to 11.6 million a year ago. The Energy Information Administration has said that raw imports decreased by almost one million barrels per day. The average of four weeks has slightly decreased compared to a year ago.

A private equity company based on energy is selling a large slice of its participation in the Permian basin for $ 1.6 billion. Matador Resources is buying Advance Energy Partners Holdings, which reported production of approximately 25,000 barrels per day in the first quarter of last year.

Russian crude oil exports from the Baltic ports should increase this month this month, according to a Reuters report. About 70% of these loads are directed to India. India has been one of the main buyers of the Russian degree for several months now. China is also increasing bomb purchases from Russia, despite international sanctions.

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