Author: omc_admin

Exxon Mobil has finally lifted force majeure on the long-stalled Rovuma LNG project in northern Mozambique, clearing the first real procedural hurdle the $30-billion development has seen in years. The company halted activity back in 2021 after escalating violence in Cabo Delgado forced both Exxon and TotalEnergies to abandon their sites. Total’s adjacent Mozambique LNG project declared force majeure first; Exxon followed soon after. The two projects share infrastructure, which meant neither could realistically move without the other.An Exxon spokesperson said the company is now working with its partners and Mozambique’s government to secure operations, with a final investment decision…

(World Oil)– TotalEnergies has issued a detailed response to a complaint filed this month with France’s National Anti-Terrorist Prosecutor’s Office (Pnat), rejecting accusations that the company or its Mozambique LNG project were complicit in alleged war crimes and abuses committed by Mozambican security forces in 2021. The complaint—filed against persons unknown and the company—follows a September 2024 Politico article asserting that Mozambican soldiers carried out abuses near the Mozambique LNG site between June and September 2021. TotalEnergies said Wednesday it has not been formally served with the filing and “firmly rejects” the claims. The company emphasized that all Mozambique LNG personnel had…

The Brazilian president, Luiz Inácio Lula da Silva, has told Cop30 delegates that he will take his fossil fuel transition roadmap to the G20 in Johannesburg this week to campaign for it, despite reports that petrostates have said they will not accept the plan.Before leaving Cop30 in Belém, the figurehead of the global south told civil society representatives he was ready to fight for the proposal to phase out oil, coal and gas in whatever forum was necessary.“Lula told me that he was all in on the roadmap and that he would campaign for it everywhere, in the G7 and…

I wouldn’t ever actually admit to enjoying the workplace chat app Slack (that would be horrifically uncool). But the data speaks for itself.For 2024, I was Business Insider’s second most prolific Slack poster, which is incredibly embarrassing and not a compliment at all.Look, I love chatting! I love sharing links and musings with my colleagues! Fire me! (To my editor reading this: Please don’t, I promise I’ll get back to work.)But despite this, there’s one thing that stymies me over and over — and I know I’m not the only one out there who is plagued by this problem.Whenever you…

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(Bloomberg) – ExxonMobil lifted a force majeure on its Rovuma liquefied natural gas project in Mozambique as security concerns subside, a key step toward sanctioning the development and committing construction funds.  The force majeure was put in place after Islamic State-affiliated militants carried out an attack near its operations in northeastern Mozambique in 2021. Ending the force majeure will allow work to resume and is a crucial step toward Exxon making a final investment decision on the project, which is expected next year. TotalEnergies SE, which is building a separate $20 billion LNG plant nearby, ended its own…

India’s Reliance Industries has officially stopped importing Russian crude into its giant Jamnagar refining complex as of November 20—a sharp and early pivot that signals just how seriously Indian refiners are taking Washington’s latest sanctions squeeze on Rosneft and Lukoil.Reliance had the most to lose. For two years, it was India’s single largest buyer of Russian oil, backed by a long-term deal for nearly 500,000 bpd with Rosneft. Now, that relationship is effectively mothballed, at least for Jamnagar, as the company races to stay inside the lines of U.S. and EU product-import restrictions that get significantly tighter starting January 21.…

(Oil Price)– China’s crude oil imports last month remained elevated, with purchases from some countries hitting all-time highs, according to customs data cited by Reuters. Imports from the UAE, for instance, rose from 2.05 tons a year ago to 3.82 million tons last month, while purchases from Kuwait went up from 970,000 tons to 2.36 million tons, the data showed. Imports of crude from Russia, however, declined on the year, from 9.83 million tons to 9.11 million tons in October. One ton of crude oil is roughly equal to 7.33 barrels. The country remained China’s single biggest supplier of crude, though,…

(WO) – TotalEnergies has issued a detailed response to a complaint filed this month with France’s National Anti-Terrorist Prosecutor’s Office (Pnat), rejecting accusations that the company or its Mozambique LNG project were complicit in alleged war crimes and abuses committed by Mozambican security forces in 2021.  Mozambique rebel fighters The complaint—filed against persons unknown and the company—follows a September 2024 Politico article asserting that Mozambican soldiers carried out abuses near the Mozambique LNG site between June and September 2021. TotalEnergies said Wednesday it has not been formally served with the filing and “firmly rejects” the claims. The company…

Russian attacks on energy infrastructure in western Ukraine have left hundreds of thousands of Ukrainians without power as of Thursday as nuclear power plants are curbing generation because of damaged transmission lines. Damage to power lines has forced nuclear power plants, which generate more than half of the country’s electricity, to reduce production, a representative of Ukraine’s national nuclear energy company Energoatom told Reuters today. Earlier this week, Rafael Mariano Grossi, the Director General of the International Atomic Energy Agency (IAEA), said that two Ukrainian nuclear power plants have been operating at reduced capacity for the past ten days after a military…