Author: omc_admin
Monumental Energy Corp said Tuesday it had signed a definitive deal to help fund New Zealand Energy Corp’s (NZEC) planned increase of oil and gas production in the Taranaki basin onshore New Zealand. The agreement extends a partnership that already saw the restart of production in the nearby Copper Moki field in 2025. “The agreement will enable the company [Monumental] to participate in certain mutually agreed upon appraisal and development workover projects with NZEC to increase oil and gas production” in the Waihapa-Ngaere area, Vancouver, Canada-based Monumental said in an online statement. NZEC, a 50 percent owner in the relevant…
A group of banks including JPMorgan Chase & Co. and Citigroup Inc. are in talks to lend natural gas producers in Argentina roughly $1 billion to build a cross-country pipeline, according to two people familiar with the matter. The banks, which also include Banco Santander SA, are negotiating the syndicated loan with a consortium led by Pan American Energy Group after a similar deal was struck last year for a pipeline and port dedicated to shale oil exports. That project, known as VMOS, is currently under construction. More banks may join the financing for the gas pipeline, the people added. Pan…
Crude prices: Big Oil companies saw their shares rise even as crude oil prices fell last year. John D. Rockefeller, the godfather of the modern oil industry, called his tactic of purposely crashing oil prices and sending the stocks of his rivals into a tailspin “a good sweating.” Soon after, he’d conveniently buy shares cheaply. For the following century, one of the few certainties of petroleum investing was that low crude prices are bad for Big Oil.That remained true until last year, when oil company shares rose while the cost of a barrel of crude plunged. For some investors, it…
Big Tech has been on an energy hiring spree.Technology companies investing heavily in artificial intelligence are bolstering their workforce with energy experts as they look to overcome the biggest bottleneck in scaling AI: access to power.Energy-related hiring jumped 34% year-on-year in 2024, according to data compiled by Workforce.ai for CNBC. Last year’s hiring almost matched this pace and remained 30% higher than pre-AI levels of 2022, when ChatGPT was released late in the year.Energy is increasingly important to Big Tech companies whose AI ambitions hinge on securing power for insatiable data centers. Data centers accounted for around 1.5% of global…
Daily Light Crude Oil Futures Technically, we had been waiting for the 50-day moving average breakout for several weeks. Since late October, this indicator has repelled any attempt to break out to the upside while posting a series of lower bottoms. Previous attempts to rally that were capped include $60.90 on November 11, $59.85 on December 5, and $58.62 on December 26. Finally, on January 9, the market broke through at $58.25 with conviction and managed to extend the move for the first two days this week. Its strength has been fueled by a combination of aggressive short-covering and speculative…
1776 Energy, a portfolio company of Quantum Capital Group, has closed the sale of its South Texas oil and gas assets to Silver Hill Energy Partners, continuing consolidation activity in the mature Eagle Ford shale. The transaction includes approximately 17,500 net acres and an estimated 550 gross drilling locations primarily across Karnes and Gonzales counties, Texas. The assets are prospective across the Eagle Ford and Austin Chalk formations and provide Silver Hill with an expanded operated footprint and multi-year development inventory in one of the most established U.S. shale basins. Silver Hill funded the acquisition with a combination of equity…
Last year was the third-hottest on record, scientists have said, with mounting fossil fuel pollution behind “exceptional” temperatures.The World Meteorological Organization (WMO) said 2025 had continued a three-year streak of “extraordinary global temperatures” during which surface air temperatures averaged 1.48C above preindustrial levels.Current rates of heating could breach the Paris agreement limit of 1.5C (2.7F) – which is measured over 30 years to iron out natural fluctuations – before the end of the decade, according to the EU’s Copernicus climate agency. That is more than 10 years sooner than scientists expected when world leaders signed the pledge in 2015.“We are…
Oil prices saw a slight dip today after a four-day rally. Venezuela has restarted oil exports, easing some concerns. Oil prices paused their run of gains on Wednesday, slipping after four days of increases, as Venezuela resumed exports, but fears of Iranian supply disruptions following deadly civil unrest in the major Middle Eastern producer loom over the market. Brent futures were trading 9 cents down, or 0.14 per cent lower, at $65.38 a barrel at 0207 GMT. US West Texas Intermediate crude was down 12 cents, or 0.20 per cent, at $61.03 a barrel.Brent futures closed 2.5 per cent higher…
(Investing) – WASHINGTON – The Trump administration on Tuesday proposed a rule revising Biden-era pollution protections for waterways, a move the Environmental Protection Agency said would speed permitting of energy and artificial intelligence infrastructure. The proposed rule concerns the 2023 finalization by the administration of former President Joe Biden of the 401 section of the Clean Water Act. That reversed a 2020 rule from President Donald Trump’s first term and gave authority to states and tribes to protect waterways in their reviews of projects requiring federal permits. Jess Kramer, the EPA assistant administrator for water, told reporters the 2023 revision was…
US President Donald Trump speaks to the press upon returning to Joint Base Andrews in Maryland on January 13, 2026. Mandel Ngan | Afp | Getty Images U.S. President Donald Trump said in a Truth Social post on Tuesday that he had “cancelled all meetings with Iranian Officials,” and reiterated his support for protestors fueling one of the largest anti-government demonstrations in the Middle Eastern country.Trump’s move suggests that diplomatic methods aimed at compelling Tehran to cease its violent crackdown on protestors might be off the table for now.WTI crude and global benchmark Brent saw prices jump more than 2.5%…