Author: omc_admin
(MarketWatch) – The Federal Reserve is likely to resume lowering interest rates in September, but it won’t be an easy call for the central bankers, economists said Thursday in the wake of the June jobs report. There will be a lot of data over next two months that will impact the Fed’s decision, but if trends continue as they are now, the central bank should be able to ease, said Kathy Bostjancic, chief economist at Nationwide Financial. “I think the odds are pretty high that we’ll get a rate cut in September,” Bostjancic said in an interview with Marketwatch. The key…
The government of Cyprus has confirmed a new natural gas discovery in the Pegasus-1 well located in Block 10, operated by ExxonMobil and its partner QatarEnergy. The well intersected approximately 350 meters of gas-bearing reservoir at a depth of 1.9 kilometers, according to government spokesperson Konstantinos Letymbiotis. Drilling was carried out by the Stena Forth drillship and concluded in late June.While ExxonMobil has not issued a public statement, the Cypriot presidency said further technical evaluation will be required to assess the well’s commercial viability. No resource estimates or development timeline have been provided. The result marks the second confirmed discovery…
Valaris Limited has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18, the company announced Monday. The contract is expected to start in mid-fourth quarter 2026, with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the Gulf of America/Gulf of Mexico. The combined addition to contracted revenue backlog is approximately $760 million. “We’ve secured approximately $1.9 billion in new contract backlog so far this year, reflecting solid execution of our commercial strategy and our ability to deliver safe and efficient operations for our customers,” said…
The Department of Energy warns that blackouts could increase by 100% in 2030 if the U.S. continues to shutter reliable power sources and fails to add additional firm capacity.WASHINGTON— The U.S. Department of Energy (DOE) today released its Report on Evaluating U.S. Grid Reliability and Security. The report fulfills Section 3(b) of President Trump’s Executive Order, Strengthening The Reliability And Security Of The United States Electric Grid, by delivering a uniform methodology to identify at-risk regions and guide Federal reliability interventions. The analysis reveals that existing generation retirements and delays in adding new firm capacity, driven by the radical green agenda…
McDermott has been awarded a sizeable* offshore transportation and installation contract by BRAVA Energia, an independent oil and gas company in Brazil, for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin. Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development. The scope also includes pre-commissioning and onshore base support services. “This award highlights the vital role of subsea infrastructure in…
Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, March 25, 2021.CNBCBlock CEO Jack Dorsey spent the weekend building Bitchat, a new decentralized, peer-to-peer messaging app that works entirely over Bluetooth mesh networks, with no internet, central servers, phone numbers or emails required.The Twitter co-founder announced Sunday that the beta version is live on TestFlight, with a full white paper available on GitHub.In a post on X Sunday Dorsey called it a personal experiment in…
McDermott has been awarded a sizeable* offshore transportation and installation contract by BRAVA Energia, an independent oil and gas company in Brazil, for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin. Under the contract scope, McDermott will execute the transportation and installation of flexible pipelines, umbilicals and associated subsea equipment for two new wells at the Papa-Terra field and two new wells for the Atlanta Phase 2 development. The scope also includes pre-commissioning and onshore base support services. “This award highlights the vital role of subsea infrastructure in…
AGI is a pretty silly debate. It’s only really important in one way: It governs how the world’s most important AI partnership will change in the coming months. That’s the deal between OpenAI and Microsoft.This is the situation right now: Until OpenAI achieves Artificial General Intelligence — where AI capabilities surpass those of humans — Microsoft gets a lot of valuable technological and financial benefits from the startup. For instance, OpenAI must share a significant portion of its revenue with Microsoft. That’s billions of dollars.One could reasonably argue that this might be why Sam Altman bangs on about OpenAI getting…
Itaú Chile’s new Sustainable Finance Framework supports green, social, and sustainability-linked instruments, with alignment rated “Strong” by S&P Global Ratings. Eligible project categories span renewable energy, clean transportation, financial inclusion, affordable housing, and more, aligned with key UN SDGs. The Framework commits to full transparency, third-party verification, and annual impact reporting using ICMA-aligned metrics. Itaú Chile Launches Sustainable Finance Framework Backed by “Strong” S&P Global Rating Banco Itaú Chile has announced the release of its inaugural Sustainable Finance Framework, designed to steer the bank’s capital toward green, social, and sustainability-linked investments. The Framework was favorably assessed by S&P Global Ratings,…
(Investing) – A consortium led by ExxonMobil (NYSE:XOM) has discovered a natural gas reservoir off the coast of Cyprus, according to a government announcement on Monday. The drilling operation found preliminary indications of a 350-meter gas-bearing reservoir at a depth of 1.9 kilometers in the Pegasus-1 well, Cypriot government spokesperson Konstantinos Letymbiotis said. “Further assessment will be required in the coming months to evaluate the results,” Letymbiotis stated after Cypriot President Nikos Christodoulides received a briefing on the findings. This marks the second gas discovery in Block 10 by partners ExxonMobil and QatarEnergy. Their first discovery was announced at the Glaucus-1 well in…