Author: omc_admin

North America added five rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on May 16. Although the U.S. dropped a total of two rigs week on week, Canada added a total of seven rigs during the same period, taking the total North America rig count up to 697, comprising 576 rigs from the U.S. and 121 from Canada, the count outlined. Of the total U.S. rig count of 576, 563 rigs are categorized as land rigs, 11 are categorized as offshore rigs, and two are categorized as inland water rigs. The…

An artist whose work was part of the first wave of abstract art to hit the UK and presaged the climate breakdown protests as well as debates over the legacies of British colonialism is undergoing an “overdue” reappraisal, according to experts and critics.Aubrey Williams, the Guyanese artist who moved to Britain in the 1950s, was a respected figure in his lifetime and the subject of several exhibitions in the UK. But after his death from cancer in 1990, the artist’s influence and the legacy of his abstract painting has slowly faded from view in Britain.Aubrey Williams in 1981. Photograph: ©…

ADNOC has signed a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localize critical oilfield technology, enhancing the resilience of the UAE’s industrial base. The announcement was made at the ‘Make it in the Emirates’ forum in Abu Dhabi.  The agreement grants ADNOC perpetual and exclusive rights to utilize Tubacex’s Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain resilience. Tubacex will establish a dedicated research and development (R&D) center in Abu Dhabi. This facility will act as a…

The European Commission and the government of the UK announced today an agreement to work towards linking their carbon markets through establishing a link between their emissions trading systems (ETS), which have been developing separately since Brexit. Under the envisioned linkage agreement, carbon allowances issued by the EU or UK could be recognized as complying with the greenhouse gas emissions trading system of the other jurisdiction. The announcement forms part of a new series of agreement reached at the first ever EU-UK summit on Monday, covering areas ranging from security and defense and migration to energy and climate change policies.…

Venture Global Inc. exported 233.6 trillion British thermal units (TBtu) of liquefied natural gas (LNG) in the first quarter (Q1), increasing 62 percent from the same three-month period last year and setting a new quarterly record for the company. Meanwhile LNG volumes sold totaled 228.3 TBtu, also up 62 percent from Q1 2024. Revenue grew 105 percent year-on-year to $2.89 billion. However, net profit fell 39 percent year-over-year to $396 million. “This decrease was largely driven by non-cash factors such as unfavorable changes in the fair value of our interest rate swaps”, the Arlington, Virginia-based LNG developer said in an…

New Delhi: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday that Bharat Petroleum Corp Ltd (BPCL) has so far invested ₹88 crore to support more than 30 startups in the fields of energy, healthcare, agriculture and AI.In a post on X social media platform, the Union Minister said that BPCL is empowering youth to become job creators and leaders.”India’s startup ecosystem is booming, driving growth and innovation across multiple sectors,” said Puri.BPCL’s ‘Project Ankur’ is fuelling this momentum, guided by PM Narendra Modi’s vision of an Atmanirbhar Bharat. ₹88 crore invested to support 30+ startups…

New Delhi: Petronet LNG Ltd, India biggest gas importer, on Monday reported its highest-ever quarterly profit during January-March after gas off-takers paid for volumes they had defaulted on previously. Net profit of ₹1,070.18 crore in January-March – the fourth quarter of April 2024 to March 2025 fiscal – was 23.4 per cent higher than ₹737.68 crore earning a year back, according to a company’s stock exchange filing. The company received ₹360.94 crore in use or pay charges from offtakers for the volumes that they had committed to bring at the import terminals but did not bring since 2021. With domestic…

The assets of failed DNA testing firm 23andMe are being bought for $256 million. Biotechnology firm Regeneron Pharmaceuticals said on Monday it would acquire 23andMe’s personal genome service, total health, and research services business lines, and its biobank of customers’ genetic samples. Regeneron said San Francisco-headquartered 23andMe would continue to offer all consumer genome services.”We believe we can help 23andMe deliver and build upon its mission to help those interested in learning about their own DNA and how to improve their personal health, while furthering Regeneron’s efforts to use large-scale genetics research to improve the way society treats and prevents…

The Godfather of AI has said he trusts his preferred chatbot a little too much.”I tend to believe what it says, even though I should probably be suspicious,” Geoffrey Hinton, who was awarded the 2024 Nobel Prize in physics for his breakthroughs in machine learning, said of OpenAI’s GPT-4 in a CBS interview that aired Saturday. During the interview, he put a simple riddle to OpenAI’s GPT-4, which he said he used for his day-to-day tasks.”Sally has three brothers. Each of her brothers has two sisters. How many sisters does Sally have?”The answer is one, as Sally is one of the…

Shortly after the opening bell, we will be buying 35 shares of GE Vernova at roughly $418.25. Following Monday’s trade, Jim Cramer’s Charitable Trust will own 80 shares of GEV, increasing its weighting to about 1.0% from 0.55%. The S & P 500 was indicated about 1% lower, and Treasury yields rose after Moody’s late Friday downgraded the U.S. credit rating one notch from the highest Aaa to Aa1. Moody’s was the last of the three major credit rating agencies to downgrade the U.S. from a triple-A rating. Standard & Poor’s cut its rating in 2011, and Fitch downgraded the…