Author: omc_admin

State-run GAIL (India) Ltd is seeking liquefied natural gas (LNG) for delivery from 2027 under a five-to-10-year deal linked to Brent crude oil prices, four sources aware of the inquiry said.The company is looking to buy six cargoes of the super chilled gas in 2027, and eight cargoes in the second year of the deal, they said. From the third year onward, GAIL is seeking to buy one cargo every month, they said.The deadline for submitting offers closes on July 24, added two of the sources.India’s largest gas distributor GAIL is seeking a long-term deal as it has started operating…

BANGKOK (AP) — Shares were mixed Wednesday in Europe and Asia after an update on U.S. inflation pulled most Wall Street stocks lower, though gains for Nvidia pushed the Nasdaq to another record. The report showed inflation in the United States accelerated to 2.7% last month from 2.4% in May. Economists said higher prices for clothes, toys and other goods that usually are imported suggest stiffer tariffs that President Donald Trump has imposed on other countries are fueling inflation. Germany’s DAX edged 0.1% higher to 24,074.54, while the CAC 40 in Paris shed 0.1% to 7,755.90. Britain’s FTSE 100 was…

Argent LNG has initiated a comprehensive EPC partner review in preparation for entering the Federal Energy Regulatory Commission (FERC) pre-filing and permitting process for its 25 MMtpa LNG export project in Port Fourchon, Louisiana.  As part of a first-of-its-kind execution strategy, Argent LNG will separately evaluate firms for “below-the-bolts” infrastructure and “above-the-bolts” Balance of Plant (BoP) scope—ultimately integrating both into a single, unified execution team to drive speed, safety and operational excellence. For its Below-the-bolts scope, Argent is seeking an engineering firm with extensive Gulf Coast experience, including direct experience working in Port Fourchon, and proven coordination with…

TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for its Heidrun extension project in the Norwegian North Sea. The award follows an integrated Front End Engineering and Design (iFEED™) study by TechnipFMC. The project will enhance the current infrastructure and extend the production lifecycle for the Heidrun platform. “This direct award highlights the mutual benefit of early engagement, which led to an optimized field layout,” commented Jonathan Landes, President, Subsea at TechnipFMC. “We are excited to leverage our iEPCI™ integrated execution to upgrade this important asset for Equinor.”   (1)…

(Investing) – LONDON -OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries’ crude intake would remain elevated to meet the uptick in summer travel, helping to support the demand outlook. In a monthly report on Tuesday, the Organization of the Petroleum Exporting Countries left its forecasts for global oil demand growth unchanged in 2025 and 2026 after reductions in April, saying the economic outlook was robust. “India, China, and Brazil are outperforming expectations so far, while the United States and the Eurozone are experiencing a continued rebound from…

Plant Vogtle Nuclear Power Plant in Waynesboro, GA, August 15, 2024.Van Applegate | CNBCWestinghouse plans to build 10 large nuclear reactors in the U.S. with construction to begin by 2030, interim CEO Dan Sumner told President Donald Trump at a roundtable in Pittsburgh on Tuesday.Westinghouse’s big AP1000 reactor generates enough electricity to power more than 750,000 homes, according to the company. Building 10 of these reactors would drive $75 billion of economic value across the U.S. and $6 billion in Pennsylvania, Sumner said.The Westinghouse executive laid out the plan to Trump during a conference on energy and artificial intelligence at…

(Oil Price)– ConocoPhillips has submitted a formal application to federal regulators seeking approval to drill four new exploratory wells and conduct seismic testing west of its $7.5 billion Willow oil development in Alaska’s National Petroleum Reserve, Bloomberg reports. The proposal, filed with the Bureau of Land Management, would significantly extend the company’s Arctic footprint and marks its most ambitious exploration effort in the region since 2020. The plan outlines new access roads, well pads, and 3D seismic surveys across the Bear Tooth Unit, a lease area directly adjacent to Willow. ConocoPhillips is betting on new reserves that could enhance Willow’s…

Sulzer’s new facilities will support essential industries in the region, including oil and gas and power generation. The expansion underlines Sulzer’s global strategy of establishing full-service, in-region capabilities to meet the needs of its industrial customers.  As part of its ongoing strategy to grow across Latin America and enhance its service offerings, Sulzer has expanded its footprint in Argentina with the opening of a third facility. In addition to a field service hub in La Plata and a main office in the heart of Buenos Aires, Sulzer has recently opened a new rotating equipment service center in Ezeiza…

Argent LNG has initiated a comprehensive EPC partner review in preparation for entering the Federal Energy Regulatory Commission (FERC) pre-filing and permitting process for its 25 MMtpa LNG export project in Port Fourchon, Louisiana.  As part of a first-of-its-kind execution strategy, Argent LNG will separately evaluate firms for “below-the-bolts” infrastructure and “above-the-bolts” Balance of Plant (BoP) scope—ultimately integrating both into a single, unified execution team to drive speed, safety and operational excellence. For its Below-the-bolts scope, Argent is seeking an engineering firm with extensive Gulf Coast experience, including direct experience working in Port Fourchon, and proven coordination with…

20-Day Line Turned Down Notice that the top of the flag shows resistance around the 200-Day MA (blue) and the 20-Day MA (purple). Plus, the 20-Day line has turned down recently and that follows an advance since May 28. It is also interesting to notice that a minimum 38.2% Fibonacci retracement was completed around the recent lower swing high at $69.98. Together, these signs of resistance are consistent with the formation of a bearish flag and simultaneous bull channel breakdown. Flag Preceded by Sharp Selloff Given the sharp descent that generated the pole portion of the bear flag, the bears…