Author: omc_admin
(World Oil) – The chances that a rival oil company will take over bp Plc are slim right now, even as peers have been running the numbers, because of the firm’s size and complexity, said bankers from Moelis & Co. “We can’t identify anybody in the U.S. that would be a buyer,” Moelis Chairman and Global Head of Energy and Clean Technology Stephen Trauber said in an interview in London on Monday. “We don’t really see any others globally that are buyers that view the assets as must-have.” Shell Plc is “probably the one that fits the best” with bp from…
Oil edged lower as the market awaits the outcome of a second day of trade talks between the US and China. West Texas Intermediate slipped near $65 a barrel after earlier rising as much as 1.5%. US Commerce Secretary Howard Lutnick said the negotiations had been “fruitful.” Still, the talks haven’t yielded conclusive progress and may stretch into the night. Some Canadian oil sands production that was shut down by fires is coming back online, also easing prices off of intraday highs. Crude has traded in a roughly $5 range for most of the past two months as the outlook for summer…
The developer of a New Jersey offshore wind farm designed to power more than 700,000 homes has pulled the plug on the project, the latest setback for a sector whose prospects have worsened under the Trump administration. “This filing marks the closing of a chapter,” Atlantic Shores Offshore Wind Chief Executive Officer Joris Veldhoven said in a statement Monday. Last week the company filed a motion with regulators to terminate the renewable energy certificates the project had been awarded. The certificates would have underpinned the project’s finances. Long seen as a key resource to power major Northeast and Mid-Atlantic cities, offshore wind…
ABB has been awarded a large order by Seatrium, a global provider of marine engineering solutions based in Singapore, for the supply of electrical equipment and automation solutions on a new generation of floating production storage and offloading (FPSO) vessels for operator Petrobras. The two vessels—P-84 and P-85—will be deployed in the Atapu and Sépia fields, approximately 200 km off the coast of Rio de Janeiro in Brazil. ABB will design and construct the topside and hullside electrical equipment, electrical substation automation and eHouses for both FPSOs. Petrobras will utilize the ABB Ability™ System 800xA® and IEC 61850…
Four First Place Winners Selected from Thousands of Global Photo Submissions Inspired by the Celebration’s 2025 Theme “Wonder: Sustaining What Sustains Us” The winners of the twelfth annual Photo Competition for United Nations World Oceans Day were announced today surrounding the United Nations World Oceans Day celebration in Nice, France. A panel of world-renowned judges selected four (4) first place winners from thousands of global entries made by both amateur and professional photographers. This year’s competition featured the recurring categories of: Big and Small Underwater Faces, Underwater Seascapes, and Above Water Seascapes. The category of Wonder: Sustaining What Sustains Us…
Russian President Vladimir Putin has extended a ban on the sale of Russian oil and petroleum products to buyers that comply with the Western-imposed price cap, pushing the restriction through the end of 2025.The decree, which first took effect in February 2023, prohibits Russian producers from exporting oil to foreign entities or individuals whose contracts include the $60 per barrel price ceiling set by the so-called Price Cap Coalition—primarily the G7 and EU nations. The goal of the Western policy was to keep Russian oil flowing to global markets while squeezing the Kremlin’s wartime revenues. Moscow has never bought into…
ABB has been awarded a large order by Seatrium, a global provider of marine engineering solutions based in Singapore, for the supply of electrical equipment and automation solutions on a new generation of floating production storage and offloading (FPSO) vessels for operator Petrobras. The two vessels—P-84 and P-85—will be deployed in the Atapu and Sépia fields, approximately 200 km off the coast of Rio de Janeiro in Brazil. ABB will design and construct the topside and hullside electrical equipment, electrical substation automation and eHouses for both FPSOs. Petrobras will utilize the ABB Ability™ System 800xA® and IEC 61850…
Apple’s stock price has been bleeding this year, and it looks unlikely that the company’s big “Liquid Glass” design overhaul will be anything more than a Band-Aid.Wall Street was largely unimpressed by the announcements at Apple’s Worldwide Developers Conference on Monday, where the company showed off its glass-like software design coming this fall to Apple’s gadget lineup.While the sleek look has its fair share of early fans, the elephant in the room was Apple’s continued challenges and delays in catching up in the AI race.Apple is known to take a slow-and-steady approach — “Not first, but best,” as CEO Tim…
The AI talent wars are reaching a fever pitch.Upstart AI research labs and tech industry giants alike have heightened their efforts to recruit top AI talent over the past few years.Naveen Rao, DataBricks’ vice president of AI, has equated the scramble for top-tier AI talent to “looking for LeBron James,” estimating there are fewer than 1,000 researchers capable of building frontier AI models.Startups that lack the financial resources to offer attractive pay packages like their Big Tech peers are turning to hackathons to find budding talent in the AI sector.The race to attract the best AI talent has led CEOs to…
Peak shale may already be behind us. U.S. crude oil production is now forecast to slip from a record 13.5 million barrels per day (bpd) in Q2 2025 to around 13.3 million bpd by the end of 2026, according to the U.S. Energy Information Administration’s bombshell June Short-Term Energy Outlook, signaling to an already price-weary industry that shale’s best days are in the rearview.It’s a subtle but significant shift—marking the first extended production dip forecast since the U.S. shale renaissance began more than a decade ago. And it’s being driven by a sharp and unexpected drop in active drilling rigs,…