Author: omc_admin

(Investing) – BUENOS AIRES -A dramatic ruling by a U.S. court ordering Argentina to hand over the 51% stake it holds in state energy firm YPF has cast a shadow over the country’s plans for its huge Vaca Muerta shale formation and hopes to return to global markets. U.S. District Judge Loretta Preska said on Monday that Argentina must transfer its YPF shares within 14 days to partially satisfy an earlier $16.1 billion court judgment against the country over its 2012 nationalization of the firm. The government of pro-market libertarian Javier Milei said it would appeal the ruling to “defend national…

Cunningham Natural Resources Corp. (CNRC) have announced that Aruna Holdings LLC has acquired an eighty percent (80%) ownership interest in the company. The landmark deal includes a change of name to Surya Oil and Gas Corp. (SOGC), a New Board of Directors and Management Team, and the licensing and deployment of Surya Energy Services’ proprietary breakthrough Kubera™ technology.  With Aruna Holdings’ participation comes its association with Surya. Surya’s Kubera™ technology provides advanced hydrocarbon detection for operators globally, redefining drilling efficiency with the success rates for new well drilling at up to 95% effective. Following an in-depth initial review of…

(Investing.com)– HOUSTON -A U.S. court has completed a second bidding round in a auction of shares in the parent of Venezuela-owned Citgo Petroleum after at least three consortia submitted revised bids in June, raising creditors’ hopes of receiving payment for some of Venezuela’s outstanding debt. The court-organized auction for the seventh-largest U.S. refiner stems from an eight-year-old case that Canadian miner Crystallex initiated in Delaware against Venezuela. The federal court found Citgo’s parent, PDV Holding, liable for Venezuela’s debts and past expropriations, paving the way for over a dozen other creditors to pursue compensation of nearly $19 billion. The second…

The U.S. Senate on Tuesday voted to narrowly approve President Trump’s $3.3 trillion tax and spending package dubbed the ‘One Big Beautiful Bill.’ U.S. energy associations including the API, IPAA, NOIA and EWTC issued separate statements acknowledging the Senate’s decision as a victory for the U.S. oil and gas industry.  “We applaud the Senate for passing the One Big Beautiful Bill to bolster America’s energy advantage and support economic growth,” said American Petroleum Institute (API) President and CEO Mike Sommers. “This historic legislation will help usher in a new era of energy dominance by unlocking opportunities for investment,…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose this week, this time by 680,000 barrels in the week ending June 27 after analysts had estimated a 2.26-million-barrel draw. The build ends a series of API-reported draws over the last five weeks that total more than 22 million barrels—an unprecedented drop in US inventories not seen in recent history.Yet so far this year, crude oil inventories are up 4 million barrels, according to Oilprice calculations of API data.Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum…

Sitting at Strong Support Regardless of the potential for a deeper correction there is reason to believe that support from last week may be strong enough to lead to a bullish reversal before a new retracement low is seen. Other evidence for support includes a lower rising trendline, the neckline breakout of a double bottom reversal at $65.33, and an anchored volume weighted average price line (AVWAP) measured from the April swing low. Moreover, Monday’s low bounced off support at the intersection of the uptrend line and neckline, and today crude oil found support at a slightly higher daily low…

Legally mandated US national climate assessments seem to have disappeared from the federal websites built to display them, making it harder for state and local governments and the public to learn what to expect in their back yards from a warming world.Scientists said the peer-reviewed authoritative reports save money and lives. Websites for the national assessments and the US Global Change Research Program were down Monday and Tuesday with no links, notes or referrals elsewhere. The White House, which was responsible for the assessments, said the information will be housed within Nasa to comply with the law, but gave no…

Oil edged up from near the lowest levels in a month as tensions once again flared in the Middle East, returning the spotlight to the fragility of a truce between Israel and Iran. West Texas Intermediate rose 0.5% to settle near $65.50 a barrel, while Brent closed above $67. Volumes were trending lower ahead of Friday’s July 4 holiday in the US. Investors are watching closely to see whether Iran’s inventories of near-bomb-grade uranium have been depleted and whether its moves to cut off communication with key United Nations watchdog officials will trigger another wave of US strikes. President Donald…

As far as I’m concerned, there’s no such thing as a TV that’s too big. Extra-large displays are growing in popularity, and many brands now sell massive 100-inch screens across budgets. The best 100-inch TVs offer a theater-like experience from the comfort of your couch, with an expanded sense of immersion for movies, sports, and video games. Though displays this large used to be outrageously expensive, prices are now more reasonable, with options starting at around $1,600.I’ve been reviewing home entertainment gear for over a decade and used that experience to pick the best 100-inch and 98-inch TVs you can…

Russia’s sanctioned Arctic LNG 2 project raised production to record levels during the last days of June as the facility appears to have resumed loading cargoes. Natural gas output at the Novatek PJSC-led facility averaged 14 million cubic meters a day on June 28 and June 29, according to a person with knowledge of the matter.  That’s the highest daily level for the plant, historic data shows. Higher natural gas output doesn’t automatically indicate a hike in LNG production, but historically the plant produced more gas when it was able to load cargoes. In December 2023, when it was launched,…