Author: omc_admin
(WO) — Ashtead Technology has signed a collaboration agreement with Ocean Science Consulting Ltd. (OSC) to deliver combined environmental monitoring, mitigation and compliance services for offshore wind and oil-and-gas operators. Under the deal, Ashtead will supply and manage subsea sensors and other equipment, while OSC will handle underwater-noise monitoring, data analysis and regulatory reporting. The companies say the single-vendor approach will help developers meet strict marine-environment standards throughout an asset’s life cycle. Offshore projects—whether decommissioning pipelines, laying cables or installing turbines—must limit subsea noise to protect marine life. The new partnership “significantly enhances our ability to deliver end-to-end…
An unexpected move by the United Arab Emirates to cut volumes of a key oil grade sold to project partners including BP Plc and TotalEnergies SE is set to put a dent in some trading books. The hit stems from a mismatch in positions taken in the derivatives market to hedge against their expected supply of Murban crude for July, according to people familiar with the matter. The discrepancy may have led to losses as high as $12 a barrel for some equity shareholders, which is considered steep given profits can be as little as a few cents for each…
By Irina Slav – Jun 27, 2025, 12:48 AM CDT Crude oil prices are on track for a weekly decline as reduced geopolitical tensions in the Middle East ease fears of supply disruptions. Despite recent draws in US crude and fuel inventories, the market’s focus is shifting to potential tariff removals and the upcoming OPEC+ meeting in early July. Analysts anticipate that increased OPEC+ production could lead to a significant oil market surplus by the end of the year, assuming continued regional stability. Crude oil prices were set to end the week lower than they started it as Israel…
Domestic natural gas price is set to rise to the government-set ceiling of $6.75 per mmbtu next month, from $6.41 currently, as the rate is linked to crude prices, which surged this month due to the Iran conflict.The Centre revises the Administered Price Mechanism (APM) rate every month based on the average crude price of the preceding month. The price is set at 10 per cent of the price of the Indian crude basket, subject to a ceiling of $6.75 per mmbtu. At June’s average crude price of $70 per barrel, the effective rate for July will be $6.75 per…
Oil and Natural Gas Corporation Limited (ONGC) in coordination with international well control specialists from CUDD Pressure Control, achieved a key breakthrough on Thursday in its ongoing operations at Well RDS#147A. It hopes to successfully cap the well by Friday.A statement issued by the ONGC said this on Thursday and added that this critical step culminated in the safe removal and dragging out of the rig substructure, thereby creating clear access to the wellhead and enabling preparations for the upcoming snubbing operation, an essential part of the final well control process.”Arrangements for the deployment of snub lines and other preparatory…
In March, I visited a strange place in the high desert east of Reno, Nevada.This is where JB Straubel’s startup Redwood Materials is turning a vast hoard of old batteries into valuable ingredients that power electric vehicles and other new devices.The weirdest part: Redwood’s HQ was surrounded by massive new data center projects. Right opposite, a ginormous Google complex rose up from the scrub and brush. And the hills around were flattened like pancakes, awaiting even more of these beasts.The demand for data centers is exploding because of generative AI. The GPUs and other gear required to train and run…
Ethane traders Satellite Chemical USA and Vinmar International have received US government letters allowing them to load ethane on vessels destined for China but prohibiting unloading ethane in China without authorisation, sources familiar with the matter said.The letters received Wednesday from the US Department of Commerce follow a licensing requirement imposed several weeks ago on ethane exports to China, stalling shipments and leading vessels to drift or anchor around the US Gulf Coast. The letter could be perceived as the administration preparing to lift the restriction, industry sources and analysts said. Even so, there would likely still be some reluctance…
Oil was set to fall this week with the Iran-Israel ceasefire holding and easing concerns over Middle East supply risks, although prices rose on Friday as the summer driving season ramped up fuel demand in the United States. Brent crude futures rose 34 cents, or 0.5 per cent, to $68.07 a barrel by 0111 GMT. US West Texas Intermediate crude gained 33 cents, or 0.51 per cent, to $65.57 a barrel. The benchmarks were set to fall about 12 per cent for the week. Oil futures hit their lowest in more than a week on Tuesday after US President Donald…
The US will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday.Former President Joe Biden’s administration scheduled 15.8 million barrels of deliveries to the SPR from January through May. So far this year only 8.8 million of that has been delivered to the reserve. “Due to site maintenance, the SPR rescheduled crude oil secured from previous solicitations, as well as exchanges, through December 2025,” an Energy Department spokesperson told Reuters. Biden carried out several…
(BOE Report) – CALGARY – Canada’s biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in “active conversations” with pipeline companies and is “pretty close” to having a one or more come forward with a plan. Smith has said the West Coast pipeline…