Author: omc_admin

XRG, PETRONAS and the Turkmenistan State Enterprise Hazarnebit have signed a new Production Sharing Contract (PSC) with the State Concern Turkmennebit for the offshore “Block I” gas and condensate fields in Turkmenistan. As part of the transaction, XRG and PETRONAS signed a long-term Gas Sales Agreement (GSA) with State Concern Turkmengas.  Under the terms of the PSC, PETRONAS will hold 57% participating interest as owner and operator, partnering with XRG (38%) and the Turkmenistan State Enterprise Hazarnebit holding the remaining 5%. Located in the Caspian Sea, Block I currently produces approximately 400 MMcfgd. It offers significant long-term potential, with access to…

Duolingo’s CEO, Luis von Ahn, said that his leadership style changed as the language learning app grew from a couple of dozen staffers to over 800 employees.”If you’re starting a company, you should be a micromanager up until about employee 30,” von Ahn said in a talk at Stanford University published last week. “I took it too far, I went to about 50.”Von Ahn, who cofounded Duolingo in 2011, added that he no longer leads this way — not because he doesn’t want to, but because it’s impossible to micromanage that many people. “At this point, I also have learned…

Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following statement congratulating Katharine MacGregor for her Senate confirmation to be the Deputy Secretary of the Department of Interior by a vote of 53-40: “The Trump Administration continues to fill important positions within the federal government with outstanding professionals who are committed to increasing American energy dominance,” said Eshelman.  “Kate MacGregor is a valuable addition to Secretary Burgum’s team at the Department of the Interior and IPAA looks forward to working with her on various issues facing our members that operate on onshore and offshore…

The Chinese tech giant Tencent said it has a “pretty strong stockpile of chips” to tide it through America’s chip sale restrictions.The company’s president, Martin Lau, was speaking to investors during an earnings call on Wednesday when he was asked how Tencent would deal with US chip restrictions.Lau said “it’s a very dynamic situation” that Tencent is managing, and it’s trying to “figure out the right solution” to make sure its AI strategy “can still be executed.” Lau told investors that Tencent can rely on a “pretty strong stockpile of chips that we acquired previously.” Lau said the chips will…

(Oil Price) – The world’s biggest oil and gas firms are embracing AI and related technology to maximize savings, optimize operations, and boost earnings. Digitalization is not new to the energy sector—oil producers and utilities have been using and perfecting it for years. But AI and its rapid advancements and capabilities are the latest hype, and it seems everyone is using it, and doing a very good job at it, at least companies say so. Robot Dogs, AI Drones Oil and gas firms use robot dogs and AI-enabled drones for inspections at operating assets, as well as autonomous haul trucks, among…

The U.S. Department of Energy (DOE) this week announced it has taken the first step in the Energy Department’s largest deregulatory effort in history, proposing the elimination or reduction of 47 regulations. The U.S. DOE last month awarded a $1.4 billion contract to APTIM, BWX for management of the Strategic Petroleum Reserve (SPR) Once finalized, the DOE promised, “these actions will save the American people an estimated $11 billion and cut more than 125,000 words from the Code of Federal Regulations.”  The DOE stated that the actions were taken “in accordance with President Donald Trump’s Executive Order, ‘Zero-Based…

Auburn University B.S. in Supply Chain Management Auburn, AL Offers a curriculum emphasizing logistics, procurement, and operations management. Tuskegee University B.S. in Supply Chain Management Tuskegee, AL Focuses on supply chain strategies within global markets. Alabama A&M University B.S. in Logistics and Supply Chain Management Normal, AL Provides education in logistics, transportation, and supply chain analytics. Arizona State University – W. P. Carey School of Business B.S. in Supply Chain Management Tempe, AZ Recognized for innovative programs with emphasis on sustainability and technology integration. Northern Arizona University B.S. in Supply Chain Management Flagstaff, AZ Offers a program focusing on procurement,…

The government of Mozambique has entered two strategic agreements that, if finalized, would result in construction of the country’s first crude oil refinery, as well as a grassroots pipeline for delivery of petroleum-based products from the southeast African coastal republic to neighboring Zambia. Identified as agreements of “high-strategic importance,” the two memorandums of understanding (MOU) for development of the refinery and pipeline projects were signed in Maputo between May 7-8 during the 11th Mozambique Mining and Energy Conference (MMEC), which brought together key government representatives, energy companies, local stakeholders, development partners, service providers, and other investors to accelerate mining and…

For the first time, the growth in China’s clean power generation has caused the nation’s carbon dioxide (CO2) emissions to fall despite rapid power demand growth. The new analysis for Carbon Brief shows that China’s emissions were down 1.6% year-on-year in the first quarter of 2025 and by 1% in the latest 12 months. Electricity supply from new wind, solar and nuclear capacity was enough to cut coal-power output even as demand surged, whereas previous falls were due to weak growth. The analysis, based on official figures and commercial data, shows that China’s CO2 emissions have now been stable, or…

For over two years, OPEC and its partners from Central Asia, led by Russia, tried to push oil prices higher by withholding oil supply. Some did it more successfully than others. Saudi Arabia especially excelled at curbing supply—to no avail. Factors outside OPEC+’s control caused prices to slide lower and stay lower. And OPEC+ has now come to terms with this, it seems. For the time being.“You can’t scream into the storm forever,” Bill Farren-Price, senior research fellow at the Oxford Energy Institute, told the Financial Times this week. “They’re good at tweaking and fine-tuning balances, but they can’t push…