Author: omc_admin

(World Oil) – Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated by Canadian Natural Resources Ltd. and others. Four out-of-control fires were burning in Alberta at 4:15 p.m. Monday, including a 2,000-hectare blaze near Swan Hills. The province issued a notice to the town’s residents telling them to prepare to evacuate within an hour if needed. That fire is less than half a kilometer away from a CNRL-operated well site and within 20 km (12 mi) of separate well sites operated by CNRL and other companies. Canadian Natural said in an email that…

OEG has secured a three-year framework agreement with an international oil major. Under the terms of the agreement, which includes optional extensions for up to five years, OEG will supply logistics equipment for the organization’s operations in North America. OEG’s North America team OEG’s cargo carrying units (CCUs) are designed to meet international standards for quality and safety, and will ensure a resilient and sustainable fleet that can meet operational demands, the company stated. The full-service offering, which includes inspection, maintenance and replacement of the units when required, will be managed out of OEG’s strategically located yards in…

There is an 80% chance that global temperatures will break at least one annual heat record in the next five years, raising the risk of extreme droughts, floods and forest fires, a new report by the World Meteorological Organization (WMO) has shown.For the first time, the data also indicated a small likelihood that before 2030, the world could experience a year that is 2C hotter than the preindustrial era, a possibility scientists described as “shocking”.Coming after the hottest 10 years ever measured, the latest medium-term global climate update highlights the growing threat to human health, national economies and natural landscapes…

Diesel consumption fell 9 per cent in Delhi in 2024-25 while increasing 5 per cent in Maharashtra and 9 per cent in Chhattisgarh, reflecting divergent trends across states, with economic activity, rains, regulatory curbs, alternative energy supplies and the fading popularity of diesel cars all weighing on sales.Delhi’s diesel consumption has been heavily influenced by a rapid shift away from diesel vehicles to petrol, CNG and electric vehicles over the past decade. Diesel sales in the capital in 2024-25 were down 63 per cent from their peak in 2015-16, according to petroleum and natural gas ministry data. Increasing air pollution,…

New Delhi: Global trade tensions could significantly impact energy markets with oil demand varying by up to 6.9 million barrels per day (b/d) by 2030, depending on the severity of tariffs and geopolitical conditions, Wood Mackenzie said in a report.The energy consultancy outlined three scenarios—Trade Truce, Trade Tensions and Trade War—in its latest report titled Trading cases: Tariff scenarios for taxing times. These scenarios examine the potential outcomes for global GDP, oil and gas prices, metals demand and power sector investments.“In the Trade Truce scenario, oil demand reaches 108 million b/d by 2030, with Brent averaging US$74/bbl,” the report said.…

(BOE Report) – Saudi Arabia has been cranking up oil refining operations to capture strong profit margins, helping the kingdom offset revenue lost from declining crude prices and exports. The world’s top oil exporter has in recent years invested heavily in expanding and modernizing its refining and petrochemical capacity at home and overseas to meet growing demand for fuel and plastics while also securing outlets for its crude oil. Saudi Arabia has nine local refineries with a combined capacity of 3.33 million barrels of oil per day (bpd), accounting for roughly 3% of global demand, which are configured to process…

Eni has signed an agreement with Global Infrastructure Partners (GIP), a global infrastructure investor and a part of BlackRock, for exclusive talks to potentially sell 49.99% in its carbon capture, utilization and storage (CCUS) business. Eni CCUS Holdings includes the Hynet and Bacton projects in the UK, L10 in the Netherland, and has the future right to acquire the Ravenna project in Italy. In the medium-to-long term, additional prospects could be added to build a wide platform of CCUS projects. According to the final agreement under negotiation, besides the initial acquisition of a 49.99% stake in Eni CCUS…

OEG has secured a three-year framework agreement with an international oil major. Under the terms of the agreement, which includes optional extensions for up to five years, OEG will supply logistics equipment for the organization’s operations in North America. OEG’s North America team OEG’s cargo carrying units (CCUs) are designed to meet international standards for quality and safety, and will ensure a resilient and sustainable fleet that can meet operational demands, the company stated. The full-service offering, which includes inspection, maintenance and replacement of the units when required, will be managed out of OEG’s strategically located yards in…

(Investing) – LONDON/DUBAI – OPEC+ is likely to agree to a further accelerated oil output hike for July this week, three delegates from the group told Reuters, in the latest stage of a plan to meet rising demand and increase market share. When the 22-member group meets on Wednesday to review the market, it is not expected to change policy, the sources said. But they said they expected an output hike to be agreed for July when the eight OPEC+ members meet on Saturday. OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has agreed…

WASHINGTON (AP) — Get ready for several years of even more record-breaking heat that pushes Earth to more deadly, fiery and uncomfortable extremes, two of the world’s top weather agencies forecast.There’s an 80% chance the world will break another annual temperature record in the next five years, and it’s even more probable that the world will again exceed the international temperature threshold set 10 years ago, according to a five-year forecast released Wednesday by the World Meteorological Organization and the U.K. Meteorological Office. “Higher global mean temperatures may sound abstract, but it translates in real life to a higher chance…