Author: omc_admin

(Bloomberg) – Argentina must give up its controlling stake in signature energy company YPF SA within two weeks after a New York judge sided with litigators in a $16 billion judgment, delivering a setback to President Javier Milei’s economic momentum before crucial midterm elections. A drilling rig shown in the Vaca Muerta shale region of Argentina. Image: YPF Judge Loretta Preska gave Milei’s government 14 days to surrender 51% of the company’s shares to a global custody account, from which they’ll be transferred to plaintiffs—former shareholders suing Argentina over its 2012 nationalization of YPF. Argentina’s Economy Ministry and…

Amazon Prime is one of the most popular subscriptions out there, but not everyone is aware of all of the benefits that come with it. Whether you’re already a Prime subscriber or still debating whether to take the plunge and get a membership, we’ve broken down all of the best Amazon Prime benefits that can help you make the most of your subscription.Amazon Prime benefits extend far beyond free shipping. As a member, you can also gain access to a slew of shopping, entertainment, and healthcare perks that can help you save time and money. But with a membership costing…

U.S. crude oil production surged to an all-time high of 13.24 million barrels per day (bpd) in April, according to newly released data from the Energy Information Administration. The increase of 0.4% over March volumes reinforces America’s standing as the world’s top oil producer and follows months of steady gains driven by improved drilling efficiencies and  stronger prices.Texas led the charge with an output of 5.7 million bpd, up 1.6% from March, while New Mexico, the second-largest producing state, posted a 0.7% increase to 1.95 million bpd. Gulf of Mexico volumes dipped slightly, but the national gain offset offshore slippage.The…

Oil edged down after its biggest weekly loss in two years as traders speculated on the volume of an expected OPEC+ supply hike and fears of Middle East tensions disrupting global oil flows dissipated. West Texas Intermediate crude shed 0.6% to settle near $65 a barrel, following a 13% slump last week. Key members of the Organization of the Petroleum Exporting Countries and its allies are ready to consider another 411,000 barrel-a-day increase for August when they meet Sunday, according to several delegates. It would be the fourth month in a row the group agreed on such a bumper hike,…

Elon Musk has a net worth of around $367 billion, according to Bloomberg’s Billionaires Index.His net worth, which is closely tied to Tesla’s share price, received a huge boost following the news that Donald Trump had won reelection in November, as Tesla shares soared to an all-time high in December.But the tech mogul’s wealth comes from a number of sources and it isn’t stable. Musk is currently the world’s richest person and other billionaires are close on his heels, too: Meta CEO Mark Zuckerberg is around $109 billion below Musk, while Jeff Bezos is $14 billion behind Zuckerberg.How has Musk’s…

Witthaya Prasongsin | Moment | Getty ImagesSenate Republicans are threatening to hike taxes on clean energy projects and abruptly phase out credits that have supported the industry’s expansion in the latest version of President Donald Trump’s big spending bill.The measures, if enacted, would jeopardize hundreds of thousands of construction jobs, hurt the electric grid, and potentially raise electricity prices for consumers, trade groups warn.The Senate GOP released a draft of the massive domestic spending bill over the weekend that imposes a new tax on renewable energy projects if they source components from foreign entities of concern, which basically means China.…

ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday.  The five-year agreement is set to commence in 3Q 2025, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.  This award further reinforces ADNOC Drilling’s leadership in high-tech oilfield services, combining next-generation equipment, artificial intelligence (AI) and real-time intelligence to deliver smarter, safer and more sustainable energy outcomes.  “This significant contract is a powerful endorsement of ADNOC Drilling’s…

WASHINGTON— The U.S. Department of Energy (DOE) today announced new updates to the Department’s National Environmental Policy Act (NEPA) procedures, fixing the broken permitting process and delivering on President Trump’s pledge to unleash American energy dominance and accelerate critical energy infrastructure. As part of a government-wide effort to restore common sense to permitting, DOE published an interim final rule rescinding all NEPA regulations and published new NEPA guidance procedures for the Department of Energy.“President Trump promised to break the permitting logjam, and he is delivering,” said Energy Secretary Chris Wright. “America can and will build big things again, but we…

The operator also produces renewable fuels, including SAF, at subsidiary Phillips 66 Ltd.’s 221,000-b/d conventional refinery in Humber, North Lincolnshire, England.The period of heightened focus by US refiners to prepare for increased consumer demand for low-carbon, sustainable fuels in which RREC was completed, however, has changed. But while other operators are reportedly quietly canceling projects aimed at more aggressively reducing carbon emissions from US plants, Phillips 66 is maintaining its broader transformational plan of keeping cost and competitive resilience at the forefront of operational decisions.In a June 24, 2025, panel at JP Morgan’s Energy, Power, Renewables & Mining Conference, Mark…

Subscribe To NotificationsScan QR code to install appImportant DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you,…