Author: omc_admin
(World Oil) – BKV Corporation has formed a strategic joint venture with Copenhagen Infrastructure Partners (CIP), on behalf of its Energy Transition Fund I, to expand BKV’s portfolio of carbon capture, utilization and sequestration (CCUS) projects. CIP, on behalf of its Energy Transition Fund I, has agreed to commit $500 million to be invested by the JV for use in designing, constructing and operating CCUS projects across the United States in exchange for up to a 49% interest in the JV. BKV has contributed to the JV its ownership of the Barnett Zero and Eagle Ford projects, and has committed…
Oil and most other commodities powered higher, while gold fell, after China and the US ratcheted down trade tensions that had threatened to slash demand for raw materials. West Texas Intermediate crude rose 1.5% to settle at $61.95 a barrel in New York, while copper advanced 0.8%. European natural gas, soybeans and iron ore also rallied. Shares of the top mining companies surged. The truce between the world’s two largest economies brought some temporary relief to commodity markets roiled by tariffs that dented the outlook for global economic growth in recent weeks. Oil watchers have slashed demand forecasts, and the…
Amazon is going back to FedEx after falling out with UPS.According to an internal document obtained by Business Insider, Amazon signed a new partnership deal with FedEx in late February to handle some parts of its package deliveries.The FedEx deal gives Amazon “cost favorability” compared with UPS, the document said, indicating the retail giant stands to save money from the transition. The document didn’t specify the extent of the deal or which Amazon packages would be handled by FedEx.”Securing FedEx capacity is our primary solution for these capacity constraints,” the internal document said.FedEx shares popped in after-hours trading on Monday,…
Prosafe has been declared the winner of a bidding process for a four-year contract by Petróleo Brasileiro SA (Petrobras) for the provision of the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. Contract award and timing are subject to a formal process during which Petrobras is under no formal obligation to conclude a contract and other bidders may appeal. A contract, if awarded, has a firm period commitment of four years with the operational commencement in September 2026 closely following on from the expiry of the current Safe Notos contract that commenced in Q3 2022.…
Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project. “If no progress is made within days, Equinor will be forced to terminate the project,” Molly Morris, president of Equinor Renewables Americas, said Monday. “We are still fighting every day to find a resolution.” That came after there was no indication of a change in stance from US officials when the Norwegian oil and gas company’s Chief…
(Bloomberg) – Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project. “If no progress is made within days, Equinor will be forced to terminate the project,” Molly Morris, president of Equinor Renewables Americas, said Monday. “We are still fighting every day to find a resolution.” That came after there was no indication of a change in stance from U.S. officials when the Norwegian oil…
Goldman Sachs analysts have reportedly suggested that OPEC+ is likely to pause further oil production increases due to deteriorating global economic conditions. Goldman reportedly anticipates that OPEC+ will make a “final” decision in July to raise daily output by 411,000 barrels, but actual economic data may prompt a reassessment, according to @FirstSquawk, and lead to a halt beyond that. If the Goldman predictions materialize, it will serve as another indication that OPEC+ is confronting increasing challenges amid signs of weakening global oil demand. On May 6, OPEC+ moved to increase daily production by 411,000 for June, putting the total increase in the output…
The Ray-Ban Meta Smart Glasses set out to achieve a worthy goal: Combine the basic functionality of a pair of glasses (or sunglasses) with many of the media and AI features you’d get from a smartphone. This way, you can capture photos and videos, listen to music, and interact with a digital assistant without ever having to pull out your phone. Instead, the glasses you’re already wearing can cover all those functions — at least, that’s the idea.In practice, the Ray-Ban Meta Smart Glasses are a bit more style than substance. The main issue? In most cases, your smartphone still…
Donald Trump is heading back to the Middle East. His plan to bring the Gulf states’ petrodollars flowing to the US could be a bit more complicated than the last time he was in office.On Tuesday, the president is due to touch down in Saudi Arabia’s capital to kick off the first bilateral overseas trip of his second term. Over a three-day period, he’s expected to crisscross Qatar and the UAE too in the hope of securing deals — lots of deals.Trump’s dealmaking ambitions will be in particular focus in Riyadh at the Saudi-US Investment Forum. Saudi Arabia’s crown prince,…
(Investing) – SAO PAULO -Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China’s Envision Energy to produce sustainable aviation fuel, as the country’s president visits China. President Luiz Inacio Lula da Silva met with energy companies as well as with automaker GAC, and Chinese defense company Norinco. Minister of Mines and Energy Alexandre Silveira told journalists in China the Brazilian government would also seek to secure Chinese investments in data centers in Brazil and would be meeting TikTok on Tuesday. Reuters reported last month that ByteDance, owner of TikTok, is considering installing data centers in the…