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Investegate |Oilex Ltd Announcements | Oilex Ltd: Annual Report 2021

Teapot Dome scandal had New Mexico roots

.......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... Albert Fall, a former New Mexico state Senator who went on to become U.S. Secretary of Interior, played a central role in the Teapot Dome scandal a century ago. (Source: Library of Congress) Copyright © 2021 Albuquerque Journal It has been 100 years since little-noticed, no-bid oil leases in Wyoming and California were engineered by then-Secretary of Interior and former New Mexico Senator Albert Bacon Fall, sending Fall to jail and rocking a presidency. The story reads like a film noir script: a cabal of wealthy oilmen hand-picking a presidential candidate, bribes, bags of cash, a murder-suicide, and a muckraking Albuquerque journalist, all amid the flow of Prohibition liquor and the whiff of Cuban cigars.

Department of Energy Seeks Industry Input on FY21 Sales of Crude Oil from the Strategic Petroleum Reserve

Department of Energy Seeks Industry Input on FY21 Sales of Crude Oil from the Strategic Petroleum Reserve WASHINGTON, D.C. – Today, the U.S. Department of Energy (DOE) announced that, consistent with statutory direction, DOE currently plans to sell crude oil from the Strategic Petroleum Reserve (SPR) over a multi-month period during Fiscal Year (FY) 2021. The Department expects to begin deliveries in May 2021, but if market conditions warrant, deliveries could begin as early as April 2021.  DOE remains confident in the long-term health of crude oil markets. During the current period of economic recovery, the Department recognizes that a conservative approach to oil sales is prudent. The precise timing and amount of the sale(s) is to be determined. DOE welcomes industry input on FY 2021 sales and currently plans to assess the appropriate timing and amount of 2021 sales in early March.