Author: omc_admin

A political plot twist is unfolding in Florida as top Republicans—including Governor Ron DeSantis—came out against a Trump administration proposal that could reopen the eastern Gulf of Mexico to offshore oil and gas leasing. The opposition wasn’t about party lines. It was about geography, economics, and a stretch of water the Pentagon relies on heavily for testing and readiness drills.The Interior Department’s draft plan, released Thursday, floats the possibility of future leasing in the eastern Gulf—an area Congress locked down nearly 20 years ago and one that Donald Trump himself moved to protect in 2020 at the urging of Florida…

(Investing) – Oil prices edged marginally higher Monday, steadying after last week’s sharp losses as markets weighed the prospects of a potential peace deal in Ukraine. At 07:50 ET (12:50 GMT),  expiring in January edged up 0.2% to $62.08 per barrel, while West Texas Intermediate (WTI) crude futures rose 0.7% to $58.20 per barrel. Both contracts recorded losses of nearly 3% last week. The U.S. and Ukraine have agreed on an “updated and refined” peace framework for the conflict with Russia. Under the revised plan, Kyiv and Washington accepted changes to an earlier 28-point draft, which had been criticised by Ukraine and its…

Sam Altman and Jony Ive say they want OpenAI’s mysterious device to be so irresistible that you might be tempted to eat it. But the pair recently revealed that at least one attempt wasn’t that appetizing.”There was an earlier prototype that we were quite excited about, but I did not have any feeling of, I want to pick up that thing and take a bite out of it,” Altman said during an onstage conversation last week with Ive moderated by Laurene Powell Jobs at the Emmerson Collective’s DemoDay. “And then, finally, we got there all of a sudden.”Altman said it…

In the aftermath of the deterioration of ties with Pakistan, Afghanistan is seeking to diversify its economic linkages. Due to tensions, both the countries have closed trade via land since October 2025.  Earlier this month, Afghanistan’s national flag carrier — Ariana Airlines–– announced that it would be slashing cargo tariffs significantly for trade with India. This decision could give a strong fillip to bilateral trade between the countries. Trade between both countries was estimated at $1billion in 2024. Before the Taliban took over Afghanistan in 2021, bilateral trade between the countries was estimated at $1.8 billion. While Afghanistan’s key exports…

U.S. LNG developer NextDecade plans to expand further its Rio Grande export project with a sixth train, for which it has just initiated the pre-filing process with the Federal Energy Regulatory Commission (FERC).  NextDecade has already approved and is building five trains at its flagship Rio Grande LNG export facility in Brownsville, Texas. All of these trains are expected to come online by the early 2030s.    The company is now seeking with the FERC further expansion at Rio Grande LNG that includes a sixth liquefaction train (Train 6) and an additional marine berth, NextDecade said on Monday, adding that it expects to…

(WO) – Condor Energies has reached total depth on its first horizontal well in Uzbekistan’s Andakli field while two recent workovers in the adjacent North Syuzma field have lifted combined gas and condensate output to roughly 12,000 boed over the past three days.  The Andakli-23 horizontal well was drilled to 3,775 m, including a 1,007-m lateral—the longest horizontal section drilled to date in Uzbekistan. The well has begun initial flowback of gas and drilling fluids and is expected to be placed on production in December following testing operations. A second horizontal well targeting a separate carbonate reservoir is…

During a packed Climate Week NYC 2025, ESG News host Michelle Li caught up with Shaun Seow, CEO of the Philanthropy Asia Alliance (PAA), for a candid conversation on the power of collaborative philanthropy in Asia. Just 24 months old and backed by Temasek Trust, PAA has quickly grown into a platform uniting more than 80 global foundations, philanthropists, and impact investors to confront the region’s toughest “wicked problems” through an Asian lens—focusing on climate & nature, global health, and inclusive education. Seow highlighted Asia’s dual reality: home to over half the world’s population, 90% of planned coal plants, and…

(Update) November 24, 2025, 4:17 PM GMT: Updates with oil production capacity in the last paragraph. Abu Dhabi National Oil Co. will maintain spending at $150 billion over the next five years as it targets growth in production capacity at home and expands internationally. The company’s board approved the capital expenditure plan that’s in line with the previous layout that was announced three years ago. Since then, Abu Dhabi’s biggest oil producer has carved out an international investment business called XRG that is scouring the globe for deals. XRG has boosted its enterprise value to $151 billion from $80 billion since it…

The world is facing a flood of oil that could push global benchmark Brent prices down into the $30s by the end of 2027 if nothing is done to curtail supply, JPMorgan warned in a Monday note to clients. Oil demand has remained surprisingly strong in 2025 despite bearish sentiment, growing by 900,000 barrels per day (bpd). Demand is expected to accelerate by 1.2 million bpd in 2027, according to the bank. But supply is forecast to widen at three times the rate of demand growth this year and next, with half of the gains coming from producers outside OPEC+…

Staatsolie has launched a new Open-Door Offering that makes roughly 60% of Suriname’s offshore acreage available for exploration, marking one of the country’s most significant steps to attract new investment in the Guiana basin. The initiative, announced Monday, allows qualified exploration and production companies to apply for acreage across shallow-water and deepwater zones, with the option to propose their own work programs. Companies may choose between a Production Sharing Contract (PSC) or a Joint Study Agreement/Technical Evaluation Agreement (JSA/TEA). Staatsolie will publish acreage selections online, triggering a 90-day window for competing proposals. The Guiana basin has become one of the…