Author: omc_admin

Tallgrass said Tuesday it has signed anchor shipper precedent agreements for a planned Permian Basin pipeline that would carry up to 2.4 billion cubic feet of natural gas. The firm transport commitments “financially justify construction of the pipeline project, subject to customary regulatory and corporate conditions and approvals, with a target in-service date in late 2028”, the Kansas City-based energy transport infrastructure company said in an online statement. Tallgrass said it would launch an open season for more shippers to subscribe and for the company to determine the pipeline’s ultimate capacity. The pipeline is planned to pick up gas from…

London: OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices.Supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about 800,000 barrels per day in 2025, OPEC said in a monthly report, down from last month’s forecast of 900,000 bpd. Lower supply growth from outside OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, would make it…

TikTok has shaken up its US Content Advisory Council, adding new voices who support broad free-speech protections and have been critical of government pressure on online platforms.The eight-person council, formed in 2020, brings in independent experts on technology and safety to advise on TikTok’s policies around child protection, hate speech, misinformation, and bullying.The reshuffle added three new members, with two of them having libertarian or conservative backgrounds. The three members who left the council brought expertise in technology policy, tech ethics, and political communication. The change appears to have occurred in the last two months. According to the Wayback Machine,…

Renewable energy developer European Energy announced the start-up of the world’s first large-scale commercial e-methanol facility, with e-methanol now being supplied to offtakers including the LEGO Group, healthcare company Novo Nordisk and shipping giant A.P. Moller – Maersk for use as a replacement for fossil-based fuels and plastics. Founded in 2004, Denmark-based European Energy is a developer and operator of green energy solutions, including solar, onshore and offshore wind projects. Its new e-methanol facility, Kassø, in Aabenraa, Denmark, manufactures e-methanol with up to a 97% reduced carbon footprint compared to fossil-based products, by combining captured biogenic CO2 with green hydrogen…

President Donald Trump appears to prefer US oil prices between $40 and $50 a barrel, according to Goldman Sachs Group Inc., citing an in-house analysis of his social-media posts on the topic. Trump “has always been focused on oil and on US energy dominance, having posted nearly 900 times,” analysts including Daan Struyven said in a report. His “inferred preference for WTI appears to be around $40 to $50 a barrel, where his propensity to post about oil prices bottoms,” they said. Oil prices — both global crude benchmark Brent, as well as US counterpart West Texas Intermediate , or…

Denmark’s government has started weighing the opportunities and risks of lifting a 40-year-old ban on the use of nuclear energy, Minister of Climate and Energy Lars Aagaard said on Wednesday. Denmark banned the use of nuclear energy in 1985, after the Parliament voted to remove nuclear power from the country’s energy planning. The ban from March 1985 was enacted a year before the Chernobyl disaster of 1986. Now Denmark is considering the potential and risks of using advanced nuclear technology such as small modular reactors (SMRs), the energy minister said. “We observe that new nuclear technologies are emerging – small modular reactors. The…

The industrial real estate market looks a lot different than it did just a few years ago. Demand is shifting, vacancy rates are up, and companies are rethinking their space needs. Stephanie Rodriguez, National Director of Industrial Services at Colliers, shares how she’s helping clients make smart decisions in what she calls a “VUCA” era—short for volatility, uncertainty, complexity, and ambiguity. What’s RelatedSupply Chain 24/7: How would you describe the current state of the industrial real estate market in 2025? Stephanie Rodriguez: The U.S. industrial market is bifurcated at the moment. Record new supply in response to unprecedented industrial demand during…

The U.S. Energy Information Administration (EIA) expects the U.S. regular gasoline retail price to drop this year and next year, according to its latest short term energy outlook, which was released on May 6. According to that STEO, the EIA sees the U.S. regular gasoline retail price averaging $3.09 per gallon in 2025 and $3.07 per gallon in 2026. The EIA highlighted in the STEO that the U.S. regular gasoline retail price averaged $3.31 per gallon in 2024. In its latest STEO the EIA projected that the U.S. regular gasoline retail price will come in at $3.16 per gallon in…

Tenaz Energy Corp. has completed the acquisition of 100 percent of the shares of NAM Offshore B.V. (NOBV) from Nederlandse Aardolie Maatschappij B.V., a joint venture between Shell PLC and ExxonMobil Corporation. Tenaz has assumed the operatorship of NOBV, the company said in a news release. NOBV has been renamed Tenaz Energy Netherlands B.V. (TEN). The base consideration for the transaction was EUR 165 million, prior to closing adjustments and contingent payments, according to an earlier statement. The transaction has an effective date of January 1, 2024. The acquired assets include substantially all of NAM’s offshore exploration and production business,…

API Report Fuels Bearish Sentiment Ahead of EIA Data Traders reacted to American Petroleum Institute (API) data showing a surprise 4.3 million barrel build in U.S. crude inventories for the week ended May 9. The uptick added selling pressure, countering the broader rally seen earlier this week. While gasoline and distillate stocks showed significant draws—down 1.4 million and 3.7 million barrels respectively—the headline crude build dominated early sentiment. Market attention now shifts to official inventory figures from the U.S. Energy Information Administration, due later Wednesday. A Reuters poll suggests crude and gasoline stocksgasoline stocks likely declined, but expectations of a…