Author: omc_admin

The Railroad Commission (RRC) of Texas has issued new regulations on permitting disposal wells in the Permian Basin. The Commission said in a media release that the guidelines were based on scientific and engineering analysis. To improve the integrity of underground produced water disposal, new regulations will be introduced for saltwater disposal well (SWD) permit applications in the area. Produced water, a byproduct of oil and gas extraction, is injected into SWDs. The commission added that new and amended permit applications in the Permian Basin will be evaluated based on an expanded area of review (AOR) at the injection site,…

Trump essentially walked away from the Russia-Ukraine war yesterday, leaving it to Putin, Zelensky, and the Pope to solve, Bjarne Schieldrop, Chief Commodities Analyst at Skandinaviska Enskilda Banken AB (SEB), said in an oil report sent to Rigzone by the SEB team today. “The U.S. is placing no visible pressure on Russia to force it towards a resolution as far as we can see,” Schieldrop said in the report, adding that “Trump is talking nicely about Putin while describing Zelensky as difficult”. “What this means for the oil price is rather foggy of course, but an easing of U.S. sanctions…

$11.5B acquisition positions TXNM Energy for long-term clean energy growth in New Mexico and Texas. Customer protections remain intact: State-regulated rates, local management, and labor agreements preserved. Blackstone funds deal with equity only, signaling financial discipline and confidence in infrastructure returns. Blackstone Infrastructure has announced it will acquire TXNM Energy for $61.25 per share in cash, valuing the company at $11.5 billion, including net debt and preferred stock. The deal underscores growing investor appetite for stable, long-horizon infrastructure assets in high-growth U.S. energy markets. TXNM Energy operates through subsidiaries PNM and TNMP, serving customers across New Mexico and Texas. The…

File: The wind farm in the Baltic Sea 35 kilometres northeast of Rügen is a joint venture of the Essen-based energy group Eon and the Norwegian shareholder Equinor. Bernd Wüstneck | Picture Alliance | Getty ImagesNorwegian energy company Equinor will resume construction on its offshore wind farm in New York, after the Trump administration lifted its order to halt work on the project.Empire Wind 1 will be the first offshore wind project to deliver electricity directly to New York City. The Interior Department under the Biden administration approved the project last year after Equinor signed a lease issued by the…

Dealmaking in the U.S. oil patch has slowed to a crawl in 2025, with the activity expected to stay muted for the rest of the year, as some prolific buyers focus on squeezing out value from their past acquisitions, while others curb their appetite for takeovers due to weak oil prices and trade uncertainty.Oil companies have spent $17 billion on acquisitions in the last three months, a steep fall from the height of dealmaking in the third quarter of 2023, where they splurged $144 billion on M&A. Benchmark U.S. crude recently slid to about $55 a barrel from about $78…

XRG eyes $500M investment in a 500,000 tonne-per-year Direct Air Capture (DAC) facility developed by Occidental subsidiary 1PointFive. Strategic DAC Hub to be located in Kleberg County, Texas, with potential for 3 billion tonnes of CO₂ storage across 165 square miles. Backed by U.S. DOE, the project aligns with national energy goals and signals growing investor confidence in DAC as a scalable, investable climate solution. Occidental and ADNOC’s investment arm, XRG, have signed a Strategic DAC Framework Agreement to evaluate a joint venture for a large-scale Direct Air Capture (DAC) facility in South Texas. Under the agreement, XRG may invest…

Valeura Energy Inc. said it has made a final investment decision (FID) on the redevelopment of the Wassana field in License G10/48 offshore in the Gulf of Thailand. The redevelopment of the Wassana field will be done through a new-build central processing platform to optimize full block potential, the company said in a news release, adding that the project will extend the end-of-field life by 16 years to 2043. The new platform will replace the existing mobile offshore processing unit production infrastructure and is expected to allow for a more holistic commercialization of the field’s oil reserves by enabling a…

Chinese imports of Russian crude oil slumped to below 2 million barrels per day (bpd) in April, down by 13%, while imports from Malaysia, the biggest trans-shipment hub for Iran’s oil, nearly doubled from a year earlier. China’s imports from Russia, its single biggest supplier of crude, fell by 12.9% on the year to 1.96 million bpd in April, according to Chinese customs data in tons converted into barrels per day by Reuters. Russian sales in China in April also declined month over month, by 5.8% from 2.08 million bpd in March.  At the same time, Chinese customs data showed no crude imports…

French President Emmanuel Macron called for the elimination of the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), joining a call by Chancellor Friedrich Merz to scrap the new law requiring companies to address their negative impacts on human rights and the environment across their value chains. Speaking to global business leaders at the “Choose France” International Business Summit on Monday, Macron framed the elimination of the CSDDD as part of a major push to reduce regulatory and compliance burdens on companies to help improve competitiveness by creating a level playing field with the U.S., China and other companies. Macron said:…

No Rating Changes Expected: The updated ESG criteria are not deemed material and will not affect existing credit ratings. More Clarity on ESG Evaluation: Revisions aim to enhance transparency and address varying global ESG policy approaches. Effective May 16, 2025: The new criteria replace the August 2024 version and apply across all rated sectors. Morningstar DBRS has released updated criteria on how it incorporates Environmental, Social, and Governance (ESG) factors into credit ratings—affirming that while refinements were made, no rating changes are anticipated. The revised document, Criteria: Approach to Environmental, Social, and Governance Factors in Credit Ratings, outlines how 17…