Author: omc_admin

Publisher’s Note: Eni SpA will be presenting at EneCom Denver – The Energy Investment Conference at the Westin Downtown, on August 17-20, 2025.  Register to attend.  (World Oil) – Eni has started gas production from the Merakes East field, in the Kutei basin, offshore Indonesia. The field is in the East Sepinggan block (Eni 85%, Op.) and will contribute up to 100 MMscfd of gas or approx. 18,000 boed to Eni’s production. Merakes East is located in a water depth of 1,600 m (~5,249 ft), approximately 10 km east of the Merakes Field. It is tied back via a subsea connection to the Jangkrik Floating Production Unit…

(Bloomberg) — Oil giant Saudi Aramco signed agreements with major U.S. companies potentially totaling about $90 billion.  The company signed 34 memorandums of understanding and pacts through its Aramco Group Co., covering collaborations and partnerships on liquefied natural gas, fuels, chemicals, emission-reduction technologies and artificial intelligence, among other fields, Aramco said in a statement.  The world’s largest oil company announced the agreements following U.S. President Donald Trump’s stop in Riyadh on his first scheduled trip abroad since returning to power. The American president wants the energy-rich Gulf states to ramp up investments in the U.S. and buy more…

OPEC+ nations made a careful start to their long-awaited oil production revival in April, ahead of the group’s plans for a much quicker surge in output in the coming months.  The eight countries who had agreed to increase supplies collectively added just 25,000 barrels a day last month, a fraction of the scheduled 138,000 barrels a day, according to a monthly report from the cartel. April marked the beginning of the coalition’s long-delayed process to restart supplies idled since 2022. While group leader Saudi Arabia added roughly the amount agreed, output declined in other nations that had promised restraint to…

Oil prices lost nearly $1 in early trade on Thursday on expectations of a potential US-Iran nuclear deal, while an unexpected build in US crude oil inventories last week heightened investor concerns about oversupply.Brent crude futures fell 88 cents, or 1.3 per cent, to $65.21 a barrel by 0055 GMT. US West Texas Intermediate (WTI) crude futures slid 92 cents, or 1.5 per cent, to $62.23. The both benchmarks lost about 0.8 per cent on Wednesday.Iran is willing to agree to a deal with the US in exchange for the lifting of economic sanctions, an Iranian official told NBC News…

Venture Global, the LNG operator, has asked the Federal Energy Regulatory Commission to greenlight its third liquefaction plant, in Louisiana, by June 26.The company previously said it plans to make the final investment decision on the new facility by mid-2025 but, its chief executive said, it needs the go-ahead from the regulator. FERC had earlier rescinded its approval for the project on the grounds of concern related to its impact on air quality in the area. The concern prompted a second environmental assessment, which the regulator completed last week, concluding there was no danger for air quality, after all.“We have…

XRG, PETRONAS and the Turkmenistan State Enterprise Hazarnebit have signed a new Production Sharing Contract (PSC) with the State Concern Turkmennebit for the offshore “Block I” gas and condensate fields in Turkmenistan. As part of the transaction, XRG and PETRONAS signed a long-term Gas Sales Agreement (GSA) with State Concern Turkmengas.  Under the terms of the PSC, PETRONAS will hold 57% participating interest as owner and operator, partnering with XRG (38%) and the Turkmenistan State Enterprise Hazarnebit holding the remaining 5%. Located in the Caspian Sea, Block I currently produces approximately 400 MMcfgd. It offers significant long-term potential, with access to…

Duolingo’s CEO, Luis von Ahn, said that his leadership style changed as the language learning app grew from a couple of dozen staffers to over 800 employees.”If you’re starting a company, you should be a micromanager up until about employee 30,” von Ahn said in a talk at Stanford University published last week. “I took it too far, I went to about 50.”Von Ahn, who cofounded Duolingo in 2011, added that he no longer leads this way — not because he doesn’t want to, but because it’s impossible to micromanage that many people. “At this point, I also have learned…

Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following statement congratulating Katharine MacGregor for her Senate confirmation to be the Deputy Secretary of the Department of Interior by a vote of 53-40: “The Trump Administration continues to fill important positions within the federal government with outstanding professionals who are committed to increasing American energy dominance,” said Eshelman.  “Kate MacGregor is a valuable addition to Secretary Burgum’s team at the Department of the Interior and IPAA looks forward to working with her on various issues facing our members that operate on onshore and offshore…

The Chinese tech giant Tencent said it has a “pretty strong stockpile of chips” to tide it through America’s chip sale restrictions.The company’s president, Martin Lau, was speaking to investors during an earnings call on Wednesday when he was asked how Tencent would deal with US chip restrictions.Lau said “it’s a very dynamic situation” that Tencent is managing, and it’s trying to “figure out the right solution” to make sure its AI strategy “can still be executed.” Lau told investors that Tencent can rely on a “pretty strong stockpile of chips that we acquired previously.” Lau said the chips will…

(Oil Price) – The world’s biggest oil and gas firms are embracing AI and related technology to maximize savings, optimize operations, and boost earnings. Digitalization is not new to the energy sector—oil producers and utilities have been using and perfecting it for years. But AI and its rapid advancements and capabilities are the latest hype, and it seems everyone is using it, and doing a very good job at it, at least companies say so. Robot Dogs, AI Drones Oil and gas firms use robot dogs and AI-enabled drones for inspections at operating assets, as well as autonomous haul trucks, among…