Author: omc_admin
Renewable energy generation rose substantially in Australia’s main power grid over the past year, producing 43% of electricity used across the five eastern states and the ACT between January and March.The increase – from 39% last year – came as generation from black and brown coal-fired power plants fell to its lowest level on record for the first quarter, in part due to ageing stations being unavailable due to outages. Gas-fired electricity generation was also down.The Australian Energy Market Operator said the shift from fossil fuels to zero emissions sources drove a 5.1% drop in greenhouse gas emissions from electricity…
(Oil Price) – The House Natural Resources Committee is preparing to launch an overhaul of oil and gas drilling legislation in a bid to boost drilling activity on federal lands via a surge in lease sales in key producing regions. The changes are set to become part of the budget reconciliation bill to be discussed at a hearing later today. After the hearing, the bill will move on to the Senate, where Republicans have a majority. Per Reuters, the budget reconciliation path that the Natural Resources Committee has chosen will secure the bill’s future by avoiding opposition from Democrats. “The House…
(WO) – Day one of OTC 2025 kicked off Monday, May 5, in Houston, Texas. Offshore innovations and industry priorities in the current economic and geopolitical climate led much of the discussion on day one, exemplified in a panel titled, “Driving Efficiency and Innovation in Offshore Production Through Electrification.” During the conversation, a central theme emerged for the conference at large: the balancing act of reducing emissions while increasing production to meet the ever-growing energy demand, leveraging the unique benefits of electrification technology. SLB’s electric well control technology ADNOC’s VP of Upper Zakum Khaled Al Kindi opened the…
(Investing) – BRUSSELS -The European Commission will next month propose legal measures to phase out the EU’s imports of all Russian gas and liquefied by the end of 2027, it said on Tuesday. Here are the key details: GAS AND LNG Russia was Europe’s top gas supplier before its 2022 full-scale invasion of Ukraine, providing around 45% of the European Union’s gas. That share plunged to 19% last year, and the EU has vowed to eliminate it altogether in response to the war. The European Commission will in June present legal proposals to ban new Russian gas and liquefied natural gas…
(Bloomberg) – Oil dropped after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand. West Texas Intermediate futures fell 2% to settle just above $57 a barrel, a fresh four-year low for the closing price. OPEC and its allies agreed on Saturday to continue loosening supply constraints as the group’s leaders seek to punish overproducing members and win back market share. The latest hike of more than 400,000 bpd starting in June matched a similar increase announced last month, when the group…
Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips. This purchase strengthens the firm’s growing position in the core of the Midland basin, widely regarded as one of the most prolific energy-producing regions in the United States. The acquisition was made through the Maroon Bells Fund, one of Rising Phoenix Capital’s actively managed mineral portfolios. The asset includes both producing wells and near-term permitted drilling locations, offering investors a low-risk entry point into sustained monthly cash flow and…
WASHINGTON (AP) — The Federal Reserve could keep its key rate unchanged for several more months as it seeks to evaluate the impact of President Donald Trump’s widespread tariffs on hiring and inflation, some economists say, even as the White House pushes for a rate cut. The Fed is nearly certain to keep its rate unchanged when it concludes its latest policy meeting Wednesday. Chair Jerome Powell and other Fed officials have signaled that they want to see how the duties — including 145% on all imports from China — impact consumer prices and the economy. The central bank’s caution…
BW Energy has reached final investment decision (FID) for the Maromba development offshore Brazil based on a capex-efficient development with an integrated drilling and wellhead platform (WHP) and a refurbished FPSO. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 bopd. The development will more than double BW Energy’s total net production by 2028 and has short pay-back time. “We have spent time on optimizing the Maromba development plan and concluded on a highly competitive concept with a…
Wall Street banks are racing this week to slash their oil price forecasts for 2025 and 2026 after OPEC+ threw another curveball at the market this weekend by vowing to continue raising production by more than initially planned.Commodity strategists and analysts from major U.S. and European investment banks have issued notes with downgraded oil price forecasts for 2025 and 2026 since OPEC+ producers led by Saudi Arabia and Russia agreed on Saturday to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled.The move follows a similar surge announced for May and signals a sharp reversal from…
Page 1 of 1781 pages. CaPow and Peer Robotics partner on in-motion power delivery for Peer Robotics’ AMRs May 6, 2025 Offering takes aim at faster ROI on autonomous mobile robots (AMRs) with technology to enable continuous operations Superior Communications deploying Brightpick’s robots to automate order fulfillment May 6, 2025 Two-phase implementation of 37 multi-purpose Autopicker mobile robots underway at Superior Communications’ DC in Tennessee April services sector grows amid concerns over pricing and tariffs, reports ISM May 6, 2025 The April Services PMI, at 51.6 (a reading of 50 or higher signals growth) increased 0.8% over March, growing, at…