Author: omc_admin

Has the first half of 2025 been good for oil hiring in the United States? That’s the question Rigzone asked Brian Binke, the President and CEO of Michigan based the Birmingham Group, an affiliate of Sanford Rose Associates. Responding to the question, Binke told Rigzone that “it’s been slower than expected – especially upstream” but added that “there’s been steady movement tied to maintenance, optimization, and a few targeted build outs”. When asked why this was the case, Binke said “operators are staying disciplined”. “Rig counts are down, prices have been soft, and most companies are being selective with headcount.…

Pipeline Infrastructure Ltd (PIL) and Crown LNG Holdings Ltd have signed an initial agreement to establish crucial pipeline connectivity between Crown LNG’s proposed terminal and PIL’s existing pipeline network in Kakinada, Andhra Pradesh, according to a PTI report.The agreement was signed on July 10 by Akhil Mehrotra, Managing Director of PIL, and Swapan Kataria, CEO of Crown LNG Holdings Ltd, marking a significant step in expanding gas access in the region.Under the terms of the agreement, Crown LNG’s proposed 7.2 MTPA Gravity-based Structure and Regasification Unit (GBSRU) at Kakinada will be connected with the PIL pipeline. This connectivity is contingent…

The solution equips the UBC Cork, a 5,700 gross tonne (GT) cement-carrying ship owned by Hartmann and managed by InterMaritime, with Seabound’s compact carbon capture system. The captured carbon — bound in limestone and thus stored safely onboard — will be offloaded at the Port of Brevik, Norway, and used in Heidelberg Materials’ Brevik cement plant. Recently inaugurated, this world-first industrial-scale carbon capture facility in the cement industry will produce net-zero concrete. Seabound partnered with Hartmann Group, InterMaritime Group, and Heidelberg Materials Northern Europe on the project.   Seabound is deploying its compact marine carbon capture system…

State-owned Egyptian Natural Gas Holding Co. (EGAS) has contracted a second floating storage and regasification unit (FSRU) from New Fortress Energy Inc. (NFE). FSRU Energos Winter, which has a capacity of 138,250 cubic meters (4.88 million cubic feet), will operate at EGAS’ liquefied natural gas (LNG) import terminal in Damietta for five years, New York City-based energy infrastructure company NFE said in a press release. Energos Winter will join Energos Eskimo in Egypt as early as August, NFE said. “EGAS is pleased to strengthen its long-standing partnership with New Fortress Energy through the execution of a second Regasification Service Agreement.…

Several oilfields operated by foreign companies in Iraq’s semi-autonomous region of Kurdistan have halted production in the past few hours following attacks with explosive-laden drones on infrastructure at the fields.On Tuesday, a drone attack forced the suspension of production at the Sarsang oilfield, operated by a U.S. privately held firm, HKN Energy. The attack took place hours before HKN Energy signed a preliminary agreement with the Iraqi oil ministry to develop another oilfield.HKN Energy confirmed production at Sarsang has been suspended, but noted that all personnel have been safely accounted for.The attacks continued on Wednesday morning local time, with explosive-laden…

EU Ombudsman Teresa Anjinho announced that she has asked the European Commission to provide explanations regarding its failure to follow a series of procedural steps to launch its “Omnibus” initiative to simplify and reduce corporate sustainability reporting and due diligence requirements. The information request, sent in a letter to EU Commission President Ursula von der Leyen, forms the next step an inquiry into the Omnibus proposal, launched by the Ombudsman in May, following complaints arguing that the Commission failed to comply with its “Better Regulation Guidelines,” which set out the principles that the European Commission is required to follow when…

The US is falling behind in the global tech race, and former Intel CEO Pat Gelsinger said a sovereign wealth fund could be the country’s best shot at catching up.In a Wall Street Journal op-ed published Tuesday, Gelsinger endorsed President Donald Trump’s proposal to create a US sovereign wealth fund, calling it “the country’s best tool” to secure American leadership in critical technologies like semiconductors, artificial intelligence, and quantum computing.”Washington’s haphazard approach to fueling national competitiveness and strategic industries isn’t cutting it,” he wrote. “Trump’s proposed sovereign wealth fund could secure American leadership.”Gelsinger, now a general partner at Playground Global,…

At 10:32 GMT, Light Crude Oil futures are trading $66.20, down $0.32 or -0.48%. The first resistance sits at the long-term pivot of $67.44, followed by Monday’s three-week high at $69.65, and a 50% retracement level at $71.20. Price action remains rangebound, as improved demand indicators out of China and upbeat OPEC projections clash with mounting concerns over inventory builds and deteriorating global trade relations. OPEC and Chinese Refiners Support Demand Outlook OPEC’s latest monthly report expressed cautious optimism, projecting stronger global oil demand in the second half of the year. The group highlighted economic resilience in Brazil, India, and…

A wooden barrel overflows with thick crude oil, stark against a desolate, sun-baked oil field. The landscape reflects the environmental impact of extraction. Assam is set to become the first state government in India to take a direct role in oil production, marking a significant turning point in the country’s energy sector. The move follows a hydrocarbon discovery in the Namrup Borhat-1 well, located in the Dibrugarh district, a project in which the Assam government holds a “significant stake” alongside Oil India Limited (OIL).Chief Minister Himanta Biswa Sarma called the development a “major step forward in energy security and economic…

India’s state-run GAIL is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty US tariffs.GAIL’s discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said.Glenfarne said last month that…