Author: omc_admin

(World Oil)– Chevron Corp. and TotalEnergies SE are competing in Libya’s first energy exploration tender since the 2011 conflict, the country’s state-run oil firm said, as the OPEC member looks to oil majors to help ramp up production to a record. Eni SpA and Exxon Mobil Corp. are also among the 37 companies that have lodged interest, with contracts due to be signed with successful bidders by the end of 2025, National Oil Corp Chairman Massoud Seliman said in an interview in the capital, Tripoli. “Almost all well-known international companies” are vying for the 22 offshore and onshore blocks, he said.…

DNO ASA entered into an offtake agreement with France’s ENGIE SA for DNO’s Norwegian gas production and secured a related offtake financing facility with a major U.S. bank for up to $500 million.  The offtake agreement covers the entirety of DNO’s Norwegian gas production post acquisition of Sval Energi Group AS, offers premium pricing and has a tenor of four years as from 1 October 2025. Related to the agreement, DNO has entered into an offtake financing facility with a U.S. bank for up to $500 million (USD). Under the facility, DNO is paid, by the bank, the…

(Bloomberg) – U.S. shale executives expect to drill significantly fewer wells this year than planned at the start of 2025, as lower oil prices and uncertainty around President Donald Trump’s tariffs hurt profits, according to a Federal Reserve Bank of Dallas survey.  Almost half of oil executives said they expect to drill fewer wells in 2025 than planned at the start of the year, according to second-quarter survey results released Wednesday. For “large” exploration and production firms — producing 10,000 bpd or more — 42% said they expected a significant decrease in the number of wells drilled. Most…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…

The signing of the Abraham Accords during the first term of President Donald Trump marked a turning … More point in America’s Middle Eastern Policy as well as regional prospects.Getty Images U.S. President Donald Trump’s teasing about the possibility of more countries joining the Abraham Accords, as he did in June, may be one of the most important developments (so far) from the U.S.-Israeli-Iranian war. While Cassandras prophesied the conflict would destabilize the Middle East, it may have instead encouraged more cooperation between Israel and Mulsim nations, the underlying principle of the accords. If that trend continues, it could lead…

TikTok began notifying some e-commerce workers on Wednesday that their roles were cut as part of “organizational and personnel changes,” according to two current employees and an internal email viewed by Business Insider.HR will help affected workers through the next steps around the “difficult news,” and there is “no need to come to the office” as they work through the transition, according to the email.The cuts are hitting Shop staff across various parts of TikTok and ByteDance’s global e-commerce division, including moderation workers, product team members, and staff who work with creators and sellers, the employees said. BI wasn’t able…

(Bloomberg) – Mozambican President Daniel Chapo said his government and private companies will have to collectively ensure the necessary security is in place to enable TotalEnergies to restart construction of a $20 billion gas project that has stalled due to a militant insurgency — and even then risks will remain.  The project in the northern Cabo Delgado province along with others that are at earlier stages of development are seen as crucial to the future of the southern African nation, which ranks among the world’s poorest. The French oil major halted work, evacuated workers and declared force majeure…

Oil and gas activity in the U.S. Eleventh District slipped into contraction in the second quarter of 2025, according to the Dallas Fed Energy Survey released Wednesday, with firms citing falling production, deteriorating service margins, and deepening uncertainty.The survey’s headline business activity index dropped from 3.8 in Q1 to -8.1, marking a return to negative territory. Executives pointed to declines in both oil and gas production, with the oil production index falling to -8.9 and the natural gas production index to -4.5, which represents a sharp reversal from moderate growth earlier this year.Oilfield service providers reported escalating cost pressure, with…

2025-07-02T16:58:19Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Microsoft is culling more workers in its latest big round of layoffs so far this year. The company is laying off less than 4% of its workforce, or roughly 9,000 employees. Microsoft in May had cut 6,000 workers. Many of its tech peers have also recently conducted layoffs. Microsoft is cutting more…

(Investing) – Brent crude prices are expected to drop to the low-to-mid-$60 per barrel range in the near term as traders eye an expected uptick in OPEC+ production and a seasonal slowdown in fuel demand, according to analysts at UBS. In a note to clients, the brokerage predicted that oil markets will see a “larger surplus” after the key summer travel period, adding that prices are anticipated to move lower from current levels. Crude prices were little moved Wednesday, as traders digested progress towards an Israel-Hamas ceasefire and a build in U.S. inventories ahead of an upcoming meeting of the Organization…