Author: omc_admin

(WO) – Energy Workforce & Technology Council said U.S. oilfield services employment edged lower in December 2025, closing out a year marked by workforce adjustment and market uncertainty.  Energy services employment totaled 629,372 jobs in December, down 184 positions from November, according to preliminary data from the Bureau of Labor Statistics and EWTC analysis. The December figures cap a year in which employment peaked at just over 640,000 jobs in April before trending lower through the second half of 2025. By year-end, oilfield services employment was roughly 11,000 jobs below its spring high, representing a year-over-year decline of…

Oil traders and shipping companies are scrambling to expand tanker operations to move Venezuelan crude as Washington prepares to take delivery of sanctioned oil following the ouster of President Nicolás Maduro, according to multiple sources familiar with the matter.Trading houses and oil majors including Chevron, Vitol, and Trafigura are competing for U.S. government-backed export deals after President Donald Trump said Venezuela could hand over up to 50 million barrels of crude to the United States. Trafigura told U.S. officials last week that its first vessel could load within days, sources said.The logistical challenges are significant. Years of sanctions have left…

Elon Musk’s xAI is now facing pressure from US regulators over Grok’s generation of nonconsensual sexualized images of real people.On Wednesday, California Attorney General Rob Bonta announced that his office was investigating the numerous reports of such images.”The avalanche of reports detailing the non-consensual, sexually explicit material that xAI has produced and posted online in recent weeks is shocking,” Bonta said in a statement. “This material, which depicts women and children in nude and sexually explicit situations, has been used to harass people across the internet. I urge xAI to take immediate action to ensure this goes no further.”The news…

Daily March E-mini S&P 500 Index March E-mini S&P 500 Index futures are also under pressure after breaking trendline support at 6,949.50. This trendline started with the November 21 main bottom at 6,583.00 and was tested at 6,771.50 on December 18 and at 6,866.75 on January 2. Persistent selling pressure could drive this market into the 50-day moving average at 6,888.00. If this level fails, look for a further drop into 50% of the 6,583.00 to 7,036.25 trading range at 6,809.50. Sector Rotation: Energy Surges While Technology Tanks Six out of 11 sectors are lower at the mid-session with energy…

(World Oil) – 1776 Energy, a portfolio company of Quantum Capital Group, has closed the sale of its South Texas oil and gas assets to Silver Hill Energy Partners, continuing consolidation activity in the mature Eagle Ford shale. The transaction includes approximately 17,500 net acres and an estimated 550 gross drilling locations primarily across Karnes and Gonzales counties, Texas. The assets are prospective across the Eagle Ford and Austin Chalk formations and provide Silver Hill with an expanded operated footprint and multi-year development inventory in one of the most established U.S. shale basins. Silver Hill funded the acquisition with a combination of equity from…

An apparent error by Microsoft’s Copilot is roiling a UK police scandal.On Monday, West Midlands Police chief constable Craig Guildford wrote to a Parliamentary committee that his officers did not catch a hallucination by Microsoft’s AI tool when they were preparing their security recommendations for a soccer match between Maccabi Tel Aviv and Aston Villa on November 6.Ultimately, fans of Maccabi Tel Aviv were barred from attending the UEFA Europa League fixture, a decision that sparked a torrent of criticism reaching as high as Prime Minister Keir Starmer.The episode highlights the importance of all workers verifying AI output as the…

Industry consultant Enverus has predicted that Venezuela will increase oil production 50% and hit 1.5 million barrels a day by 2035 following the capture of long-time leader Nicolas Maduro by the Trump administration. In its most bullish scenario, Enverus envisions Venezuela’s production tripling to 3 million barrels per day over the next decade. However, Enverus has predicted that the 30-50 million barrels that Trump ordered Venezuela to relinquish to the U.S. will not have a major impact on global markets.“Even with accelerated sanctions relief, we still see 1–2 million barrels per day of global oversupply in the first half of 2026 and…

(Investing) – The decline in U.S. natural gas prices appears excessive given the market’s underlying fundamentals, according to Morgan Stanley. Analyst Devin McDermott said prices have retreated around 35% from December highs, but “prices have pulled back too far,” even after accounting for milder weather and a brief supply pickup. Morgan Stanley now forecasts Henry Hub at $4.25 in 2026, “~22% above futures.” Natural gas briefly traded above $5 in early December, supported by stronger-than-expected storage levels, record LNG flows and a cold start to winter. McDermott noted that prices have since fallen to roughly $3.40 as weather forecasts turned warmer…

The Environmental Protection Agency says it will stop calculating how much money is saved in healthcare costs avoided and deaths prevented from air pollution rules that curb two deadly pollutants.The change means the EPA will focus rules for fine particulate matter and ozone only on the cost to industry, part of a broader realignment under Donald Trump toward a business-friendly approach that has included the rollback of multiple policies meant to safeguard human health and the environment and slow climate change.The agency said in a statement late on Monday that it “absolutely remains committed to our core mission of protecting…

Eco Atlantic Oil & Gas said it is in discussions with the Government of Guyana to continue appraisal and exploration activities on the offshore Orinduik Block after the license reached the end of its second renewal term on Jan. 14, 2026. The company, working with partner Navitas Petroleum, said Guyana’s Petroleum Act allows Eco to retain rights to the Jethro-1 and Joe-1 discoveries pending approval of a submitted appraisal program. Joint submissions have been provided to the Ministry of Natural Resources and the Guyana Geology and Mines Commission. Eco said the discussions are part of the country’s customary regulatory process…