Author: omc_admin

New Delhi: India’s indigenous crude oil and condensate production in July 2025 stood at 2.4 million metric tonnes (MMT), registering a de-growth of 0.7 per cent over the corresponding month last year, according to data released by the Petroleum Planning and Analysis Cell (PPAC).Of the total production, 75.3 per cent came from Nomination fields, 13.8 per cent from Pre-NELP fields and 10.8 per cent from NELP fields.Crude oil processed during July was 23.3 MMT, 3.2 per cent higher than July 2024. PSU and JV refiners processed 15.8 MMT, while private refiners processed 7.5 MMT. Indigenous crude processed stood at 2.3…

(Bloomberg) — Chevron plans to merge Hess’ exploration team with its own to challenge “conventional thinking” and make new discoveries, Chief Executive Officer Mike Wirth in an interview on Bloomberg TV’s Wall Street Week.  Chevron is cutting about 650 Hess jobs after completing its $53 billion takeover last month, but exploration is one area likely to be spared. “We’re going to bring their talent, their experience, their insights and blend it with ours,” Wirth said. Chevron will have “a stronger team as we move forward to challenge some of our conventional thinking.” Chevron’s exploration team has struggled to…

RODANTHE, N.C. (AP) — From Florida to New England, people trying to enjoy the last hurrahs of summer along the coast were met with rip-current warnings, closed beaches and in some cases already treacherous waves as Hurricane Erin inched closer Wednesday.While forecasters remain confident that the center of the monster storm will stay far offshore, the outer edges are expected to bring high winds, large swells and life-threatening rip currents into Friday. But the biggest swells along the East Coast could come as early as Wednesday.New York City closed its beaches to swimming on Wednesday and Thursday, and New York…

According to a new Rystad Energy report, Brent oil prices have shifted very little over the last two weeks, staying in the range of $65 to $66 per barrel. The Russia-Ukraine peace talks loom large, with bearish sentiment winning out in anticipation of Russian barrels making a return to global markets.  “The probability of the U.S. placing stronger sanctions on Russia is waning, with the market expecting Russian oil trade to make a comeback as a result of the peace talks — yet this sentiment masks emerging signals toward upside,” said Mukesh Sahdev, Rystad’s Senior Vice President, Chief…

They are the hurricanes of legend, the bowling balls that cross the entire Atlantic Ocean, menaced ships of yore and make the long, curved lines on the hurricane charts.Cape Verde storms, named for the group of islands about 450 miles (725 kilometers) off the west coast of Africa, typically form from clusters of thunderstorms that move off the continent and into the Atlantic.With thousands of miles of ocean water above the 80-degree Fahrenheit (27-degree Celsius) temperature needed to fuel hurricanes, Cape Verde storms are some of the most dangerous that threaten North America. About 85% of all major hurricanes —…

LOS ANGELES (AP) — A dangerous heat wave descended on much of California and the U.S. Southwest, with triple-digit temperatures expected along with a higher risk of wildfires. Officials opened cooling centers this week in Los Angeles, where residents are warned to avoid strenuous outdoor activities. California Gov. Gavin Newsom ordered state firefighting resources deployed in areas where blazes could ignite. Here’s what you need to know. Sizzling hotThe National Weather Service issued an extreme heat warning for Southern California starting Wednesday into the weekend. If outdoor activities can’t be avoided, forecasters say, they should be moved to early morning…

Nikkiso Clean Energy & Industrial Gases Group has been contracted by NPG (a joint venture to be formed by Shell and a subsidiary of FOCOL Holdings Limited) to provide liquefied natural gas (LNG) regasification and cryogenic equipment for the New Providence Gas Project in Nassau, the Bahamas.  The project involves an LNG receiving terminal in support of additional power generation at Clifton Pier. It aims to deliver lower-carbon infrastructure by using LNG to feed new and retrofitted gas turbines which previously used diesel. Nikkiso CE&IG will manufacture and deliver the LNG packaged regasification system which includes high-pressure submerged…

(Bloomberg) — Chevron plans to merge Hess’ exploration team with its own to challenge “conventional thinking” and make new discoveries, Chief Executive Officer Mike Wirth in an interview on Bloomberg TV’s Wall Street Week.  Chevron is cutting about 650 Hess jobs after completing its $53 billion takeover last month, but exploration is one area likely to be spared. “We’re going to bring their talent, their experience, their insights and blend it with ours,” Wirth said. Chevron will have “a stronger team as we move forward to challenge some of our conventional thinking.” Chevron’s exploration team has struggled to…

Andy Cross/MediaNews Group/The Denver Post via Getty Images 2025-08-19T23:23:54Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. A mysterious new AI image model has been generating buzz for being so good. There is speculation that Google is behind it, and the company may have just confirmed this. It’s bananas! Nano Banana.Unless you’re deep in the weeds of AI…

Support and Downside Targets The recent swing low of $62.19, recorded last Wednesday, marks critical near-term support. A decisive break below that level would confirm a continuation of the broader bearish trend. The next lower target is projected in a price zone between $60.66 and $60.60, which aligns with both a 78.6% Fibonacci retracement and a 78.6% measured target from a falling ABCD pattern. Beyond that, a 100% projection of the same ABCD structure points toward $57.71 as a deeper bearish objective. Signs of Potential Reversal Despite the weight of lower targets, the recent consolidation suggests bearish momentum has temporarily…