Author: omc_admin

Domestic natural gas price is set to rise to the government-set ceiling of $6.75 per mmbtu next month, from $6.41 currently, as the rate is linked to crude prices, which surged this month due to the Iran conflict.The Centre revises the Administered Price Mechanism (APM) rate every month based on the average crude price of the preceding month. The price is set at 10 per cent of the price of the Indian crude basket, subject to a ceiling of $6.75 per mmbtu. At June’s average crude price of $70 per barrel, the effective rate for July will be $6.75 per…

Oil and Natural Gas Corporation Limited (ONGC) in coordination with international well control specialists from CUDD Pressure Control, achieved a key breakthrough on Thursday in its ongoing operations at Well RDS#147A. It hopes to successfully cap the well by Friday.A statement issued by the ONGC said this on Thursday and added that this critical step culminated in the safe removal and dragging out of the rig substructure, thereby creating clear access to the wellhead and enabling preparations for the upcoming snubbing operation, an essential part of the final well control process.”Arrangements for the deployment of snub lines and other preparatory…

In March, I visited a strange place in the high desert east of Reno, Nevada.This is where JB Straubel’s startup Redwood Materials is turning a vast hoard of old batteries into valuable ingredients that power electric vehicles and other new devices.The weirdest part: Redwood’s HQ was surrounded by massive new data center projects. Right opposite, a ginormous Google complex rose up from the scrub and brush. And the hills around were flattened like pancakes, awaiting even more of these beasts.The demand for data centers is exploding because of generative AI. The GPUs and other gear required to train and run…

Ethane traders Satellite Chemical USA and Vinmar International have received US government letters allowing them to load ethane on vessels destined for China but prohibiting unloading ethane in China without authorisation, sources familiar with the matter said.The letters received Wednesday from the US Department of Commerce follow a licensing requirement imposed several weeks ago on ethane exports to China, stalling shipments and leading vessels to drift or anchor around the US Gulf Coast. The letter could be perceived as the administration preparing to lift the restriction, industry sources and analysts said. Even so, there would likely still be some reluctance…

Oil was set to fall this week with the Iran-Israel ceasefire holding and easing concerns over Middle East supply risks, although prices rose on Friday as the summer driving season ramped up fuel demand in the United States. Brent crude futures rose 34 cents, or 0.5 per cent, to $68.07 a barrel by 0111 GMT. US West Texas Intermediate crude gained 33 cents, or 0.51 per cent, to $65.57 a barrel. The benchmarks were set to fall about 12 per cent for the week. Oil futures hit their lowest in more than a week on Tuesday after US President Donald…

The US will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday.Former President Joe Biden’s administration scheduled 15.8 million barrels of deliveries to the SPR from January through May. So far this year only 8.8 million of that has been delivered to the reserve. “Due to site maintenance, the SPR rescheduled crude oil secured from previous solicitations, as well as exchanges, through December 2025,” an Energy Department spokesperson told Reuters. Biden carried out several…

(BOE Report) – CALGARY – Canada’s biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in “active conversations” with pipeline companies and is “pretty close” to having a one or more come forward with a plan. Smith has said the West Coast pipeline…

New Delhi: India’s total natural gas consumption declined by 9.6 per cent year-on-year to 11,361 MMSCM in April–May 2025, while LNG imports for May 2025 fell 15.3 per cent to 2,977 MMSCM compared to the same month last year, according to data from the Petroleum Planning and Analysis Cell (PPAC).Gross production of natural gas in May 2025 stood at 2,979 MMSCM, which is 4 per cent lower than the same period last year. The net production of domestic natural gas available for sale was 2,501 MMSCM, down 3.2 per cent from May 2024.The total natural gas available for sale in…

Greens leader Larissa Waters warns Labor’s rewrite of national environmental laws will not be credible if the government uses its planned 18-month timeline to continue to approve new coal and gas projects or allow continued habitat destruction.Labor’s proposal to create a federal environment protection agency collapsed in the final months of the last parliament. A deal with the Greens was being negotiated by the then environment minister, Tanya Plibersek, but Anthony Albanese pushed the changes off the agenda, fearing an electoral backlash in Western Australia.The newly appointed minister, Murray Watt, says Labor’s 3 May victory gives the government a “very…

(WO) — Salunda has expanded its footprint in the Americas deepwater sector by installing its Latch Hawk monitoring system on a semisubmersible rig, the company confirmed. Image courtesy of Salunda The deployment, completed earlier this year, integrates the second-generation sensors directly into the rig’s drilling control network, giving crews instant feedback on the status of fingerboard latches inside the derrick and reducing the risk of dropped-objects (DROPS) incidents. “Our intensive work in the Americas deepwater region reflects the growing global recognition of Latch Hawk as a trusted solution for preventing DROPS incidents during operations,” said Alan Finlay, Salunda’s…