Author: omc_admin
Western energy supermajors are faced with an increasingly difficult challenge: either keep their promise of returning ever-higher shareholder returns or risk spurning investors to save their balance sheets. Record cash has been allocated to shareholders, but with recent double-digit dips in oil prices not reversing, these payouts will be increasingly difficult to maintain. Rystad Energy estimates that the majors will likely need to reduce both investment and shareholder payouts to balance their cash flows in the current oil price environment.“Recent market volatility has left the majors with few economically attractive options that both allow for reinvestment while maintaining a competitive…
Deutsche Bank AG won’t move ahead with a plan to add restrictions on financing oil and gas, as it assesses the legal risks of doing so, according to its chief executive. “The legal environment has changed, and we are currently analysing this in detail in order to minimise potential risks for the bank,” CEO Christian Sewing told shareholders at Deutsche Bank’s annual general meeting on Thursday. At the same time, Sewing sought to reassure investors that Deutsche Bank isn’t backing away from its climate goals. Germany’s largest lender has “largely completed” an update of its guidelines for the oil and…
(World Oil) – Leaders from the National Ocean Industries Association (NOIA), American Petroleum Institute (API) and the Independent Petroleum Association of America (IPAA), issued statements today in support of the U.S. House of Representatives’ passage of the 2025 tax reconciliation bill. “House passage of this legislation is a significant milestone in advancing American energy dominance,” said NOIA President Erik Milito. “Many of the included provisions are vital to preserving the Gulf of America’s role as a strategic energy hub and reinforcing U.S. leadership in offshore energy.” “As the Senate moves forward, we urge lawmakers to deliver a final, balanced reconciliation package that…
I’m as curious and excited as any gadget lover to see what newfangled AI thingamabob will come from OpenAI’s $6.5 billion purchase of the ex-Apple designer Jony Ive’s IO company.But I have one request: Please, for the love of God, do not make it a voice-controlled device.Here’s what we know about the possible device that Ive and Sam Altman are teasing in a video about their new collaboration. The Wall Street Journal reported that Altman told OpenAI employees a few details:The product will be capable of being fully aware of a user’s surroundings and life, will be unobtrusive, able to…
Oil fell to its lowest settling price in almost two weeks as US stockpiles gained and OPEC+ members discussed another major production increase, just as demand faces headwinds from the US-led trade war. West Texas Intermediate slid 0.6% to settle just above $61 a barrel. Brent dropped to settle below $65. If OPEC+ approves the potential increase of 411,000 barrels a day when it meets on June 1, it will mark the third month in a row the cartel has agreed to boost supplies by triple the initially scheduled amount. “The most likely outcome is another headline increase of 411,000…
Leaders from the National Ocean Industries Association (NOIA), American Petroleum Institute (API) and the Independent Petroleum Association of America (IPAA), issued statements today in support of the U.S. House of Representatives’ passage of the 2025 tax reconciliation bill. “House passage of this legislation is a significant milestone in advancing American energy dominance,” said NOIA President Erik Milito. “Many of the included provisions are vital to preserving the Gulf of America’s role as a strategic energy hub and reinforcing U.S. leadership in offshore energy.” “As the Senate moves forward, we urge lawmakers to deliver a final, balanced reconciliation package that maintains…
During his election campaign, the US President Trump reiterated on multiple occasions that “he would be able to end the war between Russia and Ukraine in 24 hours upon taking office”. Pitching himself as a dealmaker, Trump suggested to end the conflict in Gaza as well. However, the India-Pakistan tensions starting from April 2025 were not part of Trump`s election rhetoric. Such fresh conflict allowed him to re-propose himself as a mediator at a time when the war between Russia and Ukraine and the conflict in Gaza continue. Once it was clearly established that ending these conflicts, particularly the one…
Environmental activists in Brazil have decried a dramatic rollback of environmental safeguards after the senate approved a bill that would dismantle licensing processes and increase the risk of widespread destruction.The upper house passed the so-called “devastation bill” with 54 votes to 13 late on Wednesday, paving the way for projects ranging from mining and infrastructure to energy and farming to receive regulatory approval with little to no environmental oversight.The bill now returns to the lower house for final approval. No date has been set for a vote there, but it is expected to pass without resistance in the conservative chamber…
As a kid, Diane Hoskins always loved building. Legos, Barbie Dreamhouses, the racecar sets that her brother got but didn’t have the patience to put together himself when it took reading along with an hour’s worth of instructions.”Whatever it was … I just love putting things together and building things,” Hoskins, global co-chair of architectural firm Gensler, told CNBC’s Julia Boorstin in a recent CNBC Changemakers interview.That childhood building bug also made Hoskins the atypical example of a person who knew exactly what they wanted to do from an early age. “It led me to want to be an architect,”…
The European Union spent more on Russian fossil fuels in 2024 than it provided to Ukraine in military and financial assistance, according to new data published by the Centre for Research on Energy and Clean Air (CREA). First reported by Euromaidan Press on Thursday, the analysis shows that the EU paid approximately €7 billion more on Russia energy imports than it doled out to Ukraine last year.Despite an array of sanctions and public commitments to wean off Russian oil and gas, Brussels ended up spending an estimated €46 billion on Russian energy imports last year—the bulk of it for liquefied…