Author: omc_admin

Santos Ltd. on Thursday reported $1.29 billion in sales revenue for the second quarter, down one percent from the prior three-month period as weaker liquids prices offset higher sales volumes. The Australian company produced 22.2 million barrels of oil equivalent (MMboe) in the April-June quarter, up one percent sequentially. Higher production in Western Australia was offset by flood impacts in the Cooper Basin. “Over 200 wells and several upstream compressors were shut in. Production recovery is underway and is expected to continue ramping up as flood levels recede during the second half”, Santos said in its quarterly report. A projected impact…

Netflix seems poised for a record-setting quarter, even as its crackdown on freeloaders cools off.Wall Street expects Netflix to report a best-ever $11.1 billion in revenue and $7.08 in earnings per share when it shares second-quarter results on Thursday, based on consensus estimates compiled by S&P Global. That would be up from first-quarter marks of $10.5 billion and $6.61, respectively.Analysts think Netflix’s primary growth drivers this quarter will be the price increases it implemented earlier this year and its budding advertising tier. That tier drove nearly half of Netflix’s subscriber growth in the US in the first five months of…

New Delhi: India’s oil minister Hardeep Singh Puri today asserted the country will continue sourcing oil from “wherever necessary” to safeguard its interests and ensure energy security. This comes days after U.S. President Donald Trump’s statement that countries purchasing Russian exports could face sanctions if Moscow fails to reach a peace agreement with Ukraine within 50 daysSpeaking at Urja Varta 2025, a flagship upstream oil and gas conclave of the Directorate General of Hydrocarbons (DGH), Puri said the country feels “no pressure” and has enough supply options to ensure uninterrupted fuel availability even in turbulent times.“We will buy from wherever…

Azule Energy reported a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo Basin of Angola. The well was spudded at a water depth of 3111.7 feet (95 meters), approximately 37.3 miles (60 kilometers) off the coast. It encountered gas- and condensate-bearing sandstones in one of the Lower Oligocene targets, designated LO100, the company said in a news release. The preliminary results and fluid samples indicate several reservoirs with good mobility, and initial assessments suggest that gas volumes on site may exceed 1 trillion cubic feet, with up to 100 million barrels of associated condensate, according…

Specialized services and technologies provider KBR Inc. said that its joint venture with the State Oil Company of the Republic of Azerbaijan (SOCAR), SOCAR-KBR LLC (SKLLC), has been selected by BP PLC for two contracts in the country. KBR said in a media release that one contract is for the support of the Sangachal Terminal Electrification (STEL) project, Azerbaijan’s largest oil and gas reception terminal, and the other is for the Shah Deniz compression (SDC) project. According to the contracts, SKLLC will deliver detailed engineering design solutions and procurement services for both projects. SKLLC has already completed the front-end engineering…

Petrobras is considering a return to retail fuel sales after President Luiz Inacio Lula da Silva and the state-controlled oil company’s top executive complained about high pump prices. Four years after exiting the business now known as Vibra Energia SA, Petrobras’ board of directors will meet this week to discuss amending the company’s strategic plan to include a presence in the retail sector, according to a person familiar with the matter who asked not to be named discussing private matters.  It’s unclear if such a move would involve trying to fully re-nationalize Vibra or buying a stake in the convenience-store…

Guyana’s government will reduce external borrowing for major infrastructure projects, Vice President Bharrat Jagdeo said, citing the country’s swelling oil revenues and a growing push for fiscal restraint.Speaking at a press briefing, Jagdeo said new revenue flows made it unnecessary to pursue as many external loans for transport and energy projects as previously planned, adding, “We have cash balances,” Demerara Waves reported. The Vice-President underscored that future spending would be more tightly tied to earnings from offshore oil production, which is expected to exceed 600,000 barrels per day by year-end. The announcement comes six weeks before Guyanese voters head to the…

A now three-day series of drone attacks on Iraqi Kurdistan’s oilfields, leading to a shut-in of 150,000 bpd and ratcheting up already-inflamed tensions between the Kurdistan Regional Government (KRG) in Erbil and the Iraqi federal government in Baghdad.Late on Wednesday, Chinese media reported another drone attack on a Dohuk province oilfield connected to U.S. operator Hunt Oil. According to Xinhua and China Daily Asia, the KRG Ministry of Natural Resources confirmed the latest attack occurred at 7:10 pm local time (1610 GMT). That was the second reported attack on Dohuk on Wednesday. From Monday to early Wednesday, explosive-laden drones struck the…

Mumbai-based natural gas distribution company Mahanagar Gas Limited – a unit of public sector undertaking GAIL – is investing about ₹1,500 crore, along with partners, to set up a battery manufacturing unit and a compressed biogas production facility over the next two years in a bid to diversify operations.Mahanagar Gas Ltd managing director Ashu Shinghal told ET that, amid the government push towards cleaner mobility solutions, the company is looking to expand its footprint in non-fossil fuel options and has earmarked capital for a foray into new energy segments.He said, “At present, almost 70 per cent of our revenues come…

ISLAMABAD (AP) — Heavy monsoon rains killed at least 54 people in eastern Pakistan in 24 hours, bringing the total rain-related deaths in the country to 178 over the past three weeks, officials said Thursday.Rainfall has triggered flash floods and inundated several villages as the country experiences 82% more rainfall this month compared to the same period in July 2024, the Pakistan Meteorological Department said.Since June 26, Pakistan has reported 178 deaths from Punjab, Khyber Pakhtunkhwa in the northwest, Sindh in the south and Balochistan in the southwest, officials said.The 54 deaths in the past day occurred in Punjab province,…