Author: omc_admin

(WO) – The Energy Workforce & Technology Council (EWTC) has released the following statement praising the Trump Administration’s announcement of a historic offshore lease sale in the Gulf of America, covering an area larger than the entire United Kingdom. The lease sale is slated to offer nearly 80 million acres for oil and gas development, signaling a clear shift back to American energy dominance. “This is exactly the kind of leadership our industry and economy need,” said EWTC President Tim Tarpley. “By unlocking vast offshore reserves, the Administration is sending a loud and clear message: America is open for energy business again,…

(Bloomberg) — France’s TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina, according to people familiar with the matter. Progress with the divestment comes after CEO Patrick Pouyanne said earlier this year that he’d be willing to offload stakes in the fields at the right price. Total declined to comment. Crude production in the Vaca Muerta shale formation is growing, topping 442,000 barrels a day in April, 22% more than a year earlier. But much of that is being pumped by homegrown companies.  Global players like Exxon…

Most tech-savvy observers understand that AI is transforming large enterprises across functions such as customer service, HR, and the supply chain. Chatbots and virtual assistants are now powered by large language models (LLMs) that respond to nearly any natural-language query.These models are trained on business-specific data to provide targeted, accurate answers. According to a poll from the US Chamber of Commerce and Teneo, 98% of small businesses now use AI-enabled software, and 40 % of them employ generative tools like chatbots and image creators to cut costs and speed workflows. But AI isn’t just making a splash at big corporations:…

(BOE Report)– Options markets suggest the probability of a disruption of oil flows through the Strait of Hormuz is just 4% following the Iran-Israel ceasefire, Goldman Sachs analysts said in a note on Thursday. Fears that Iran could close the Strait of Hormuz after U.S. strikes on its nuclear facilities sent Brent crude futures to a high of $81.40 on Monday, but concerns eased in the wake of the truce declared the next day, sending crude back below $68. The sharp drop in the geopolitical risk premium likely reflected traders’ recent experiences with major geopolitical shocks without significant oil disruptions,…

(Bloomberg) – Colombian businesses are bracing for a deepening shortfall in natural gas supply that threatens to shutter some operations. Supplies of gas are expected to fall at least 10% short of demand next year, compared with 5% currently, according to the commodities exchange. In a worst-case scenario, the shortfall could reach as high as 20%. While this year’s shortfall is being met by spare capacity at Colombia’s only LNG import terminal, new infrastructure will need to be built to meet the growing deficit. A shortage would leave some industries scrambling for fuel as current regulation prioritizes supplying homes, transportation…

(WO) – The Energy Workforce & Technology Council (EWTC) has released the following statement praising the Trump Administration’s announcement of a historic offshore lease sale in the Gulf of America, covering an area larger than the entire United Kingdom. The lease sale is slated to offer nearly 80 million acres for oil and gas development, signaling a clear shift back to American energy dominance. “This is exactly the kind of leadership our industry and economy need,” said EWTC President Tim Tarpley. “By unlocking vast offshore reserves, the Administration is sending a loud and clear message: America is open for energy business again,…

Russia’s oil product exports dropped in June to the lowest in eight months amid extended work at refineries supplying Baltic ports, coupled with efforts to stabilize domestic fuel supplies before the upcoming seasonal surge in agricultural and holiday consumption. Seaborne shipments of refined fuels totaled 2 million barrels a day in the first 20 days in June, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. That’s the lowest monthly tally since October and an 8% decline compared to both the previous month and last year in June. Flows from Baltic ports recorded the sharpest drop of more…

Oil held steady as traders weighed the uncertain status of nuclear talks between the US and Iran against reports that OPEC+ may extend its run of super-sized production increases. West Texas Intermediate edged up to settle above $65 a barrel after swinging between gains and losses. Bloomberg reported that several OPEC delegates, who asked not to be identified, said their countries are ready consider another 411,000 barrel-a-day increase for August when they convene on July 6, following similarly sized hikes agreed upon in each of the previous three months. While that figure is broadly in-line with expectations, “the indications are…

WASHINGTON— U.S. Secretary of Energy Chris Wright today announced that the Department of Energy in coordination with the White House Council on Environmental Quality (CEQ), the Departments of Commerce and the Interior and the U.S. Army Corps of Engineers, has officially withdrawn from the Columbia River System Memorandum of Understanding (MOU). Today’s action follows President Trump’s Memorandum directing the federal government to halt the Biden Administration’s radical Columbia River basin policy and will ensure Americans living in the Pacific Northwest can continue to rely on affordable hydropower from the Lower Snake River dams to help meet their growing power needs.”The…

Microsoft is asking some managers to evaluate employees based on how much they use AI internally, and the software giant is considering adding a metric related to this in its review process, Business Insider has learned.Julia Liuson, president of the Microsoft division responsible for developer tools such as AI coding service GitHub Copilot, recently sent an email instructing managers to evaluate employee performance based on their use of internal AI tools like this.”AI is now a fundamental part of how we work,” Liuson wrote. “Just like collaboration, data-driven thinking, and effective communication, using AI is no longer optional — it’s core…