Author: omc_admin

(Oil Price) – Texas-based utility Vistra Energy has struck a $1.9-billion deal for the acquisition of close to 2.6 GW worth of gas-powered generation capacity across several states from Lotus Infrastructure Partners. The seven power plants are located in New York, California, New England and parts of the U.S. spanning 13 states serviced by transmission company PJM Interconnection, Reuters reported. The assets include five combined-cycle facilities and two combustion turbine power plants. The news of the deal comes amid reports of an expected surge in electricity demand in the United States, driven primarily by the proliferation of data centers. The Energy Information…

EOG Resources, Inc. (EOG) today announced that the company was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA).    The UCO3 concession area is 3,609 square kilometers, or nearly 900,000 acres, in an over-pressured, oil prone basin within the Al Dhafra region of Abu Dhabi. EOG holds 100 percent equity and operatorship and, in coordination with Abu Dhabi National Oil Company (ADNOC), will explore and appraise unconventional oil in the concession area. Following a three-year appraisal phase, EOG may enter into a production concession…

The best iPhone 16 cases provide durable, attractive, and multifaceted designs at reasonable prices.To help you find the best model for your needs, we’ve compiled our favorite cases based on our testing of options from Apple and third-party brands like Otterbox, Smartish, and others.Among the best iPhone 16 cases, our top pick is the Apple Clear Case with MagSafe model. It retains first-rate clarity over time, showing off your iPhone’s finish while protecting it for the long term. Our first budget recommendation is the Smartish Gripmunk with MagSafe case, a low-cost, high-quality model with solid protection and a grip-conducive texture…

As if the Permian wasn’t enough, EOG Resources just picked up a juicy new onshore shale block in Abu Dhabi. Announced Friday, the U.S. shale heavyweight secured full operatorship of Unconventional Onshore Block 3 (UCO3), a nearly 900,000-acre stretch of oil-prone rock in the Al Dhafra region, smack in the middle of one of the most watched oil basins in the world.The block sits in an over-pressured basin—code for “this thing could gush if we get it right”—and EOG is wasting no time. Drilling is slated for the second half of 2025, though the company insists its 2025 capital plan…

Halliburton and Rhino Resources have delivered two exploration wells within Petroleum Exploration License (PEL) 85 offshore Namibia, the companies announced this week. These exploration wells are the first to be completed entirely from in-country infrastructure through Halliburton’s newly established operational bases in Walvis Bay, Swakopmund, and Lüderitz. “This success is an example of what’s possible when world-class technology, local collaboration, and a shared long-term vision come together,” said Antoine Berel, vice president, Halliburton Sub-Saharan Africa. “Our newly established infrastructure across Namibia enabled this discovery, which will help unlock Namibia’s energy potential and build the capacity to support the…

Washington, DC – Three days, three countries, hundreds of billions of dollars in investments and a geopolitical shift in the United States’s approach to the region: Donald Trump’s trip to the Middle East has been eventful. This week, the United States president visited Saudi Arabia, Qatar and the United Arab Emirates in the first planned trip of his second presidency, after attending Pope Francis’s funeral last month. Trump was visibly gleeful throughout the trip as he secured investments, criticised domestic political rivals and heaped praise on Gulf leaders. The word “historic” was used more than a few times by US…

Egypt is looking to buy liquefied natural gas through the end of the decade, a move to meet surging summer power demand and supplant flagging domestic production. The government is in discussions with LNG suppliers for contracts that last through 2028 to 2030, according to people with direct knowledge of the matter, who asked not to be identified because the talks are private. The move is also intended to reduce reliance on the volatile spot market, the people said. The contracts will include a flexibility clause, in case gas needs are revised over the coming years, two of the people…

Venezuela’s state-run oil firm PDVSA is taking over crude shipments once managed by Chevron as sanctions drama and payment disputes derail the fragile oil détente between Washington and Caracas.PDVSA just shipped a 920,000-barrel cargo of heavy Boscan crude—previously exported exclusively by Chevron—out of Venezuela bound for Malaysia, a known trans-shipment point for crude ultimately headed to China. The cargo, produced by the Chevron-PDVSA joint venture Petroboscan, departed from the Amuay ship-to-ship area earlier this month, according to Reuters, citing maritime data and documents.The pivot comes after PDVSA abruptly canceled Chevron’s scheduled May cargoes, citing the company’s alleged failure to pay.…

Oil rose after Iran’s foreign minister downplayed prospects for a breakthrough in nuclear talks with the US, saying no formal proposal had been received. Brent advanced more than 1% to settle above $65, while West Texas Intermediate climbed to top $62. “Iran has not received any written proposal from the United States, whether directly or indirectly,” Foreign Minister Abbas Araghchi said in a post on X. “In the meantime, the messaging we — and the world — continue to receive is confusing and contradictory.” Prices had slumped Thursday when US President Donald Trump suggested the two sides were closer to…

Sundar Pichai said he still wonders about some decisions Google has made — one of them being that the company never acquired Netflix.The Google CEO gave a wide-ranging interview on the “All-In Podcast,” which posted Friday. At the end of the talk, host David Friedberg, a former Googler himself, asked Pichai about his proudest moments — and biggest regret.”We debated Netflix at some point, super intensely inside,” Pichai said.Pichai, who has been with the company since 2004 and became CEO about 10 years ago, said that acquisitions like Netflix were “debated hard” and the company “came close” to a deal. He…