Author: omc_admin

Prosafe has been declared the winner of a bidding process for a four-year contract by Petróleo Brasileiro SA (Petrobras) for the provision of the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. Contract award and timing are subject to a formal process during which Petrobras is under no formal obligation to conclude a contract and other bidders may appeal. A contract, if awarded, has a firm period commitment of four years with the operational commencement in September 2026 closely following on from the expiry of the current Safe Notos contract that commenced in Q3 2022.…

Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project.  “If no progress is made within days, Equinor will be forced to terminate the project,” Molly Morris, president of Equinor Renewables Americas, said Monday. “We are still fighting every day to find a resolution.” That came after there was no indication of a change in stance from US officials when the Norwegian oil and gas company’s Chief…

(Bloomberg) – Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project.  “If no progress is made within days, Equinor will be forced to terminate the project,” Molly Morris, president of Equinor Renewables Americas, said Monday. “We are still fighting every day to find a resolution.” That came after there was no indication of a change in stance from U.S. officials when the Norwegian oil…

Goldman Sachs analysts have reportedly suggested that OPEC+ is likely to pause further oil production increases due to deteriorating global economic conditions. Goldman reportedly anticipates that OPEC+ will make a “final” decision in July to raise daily output by 411,000 barrels, but actual economic data may prompt a reassessment, according to @FirstSquawk, and lead to a halt beyond that.  If the Goldman predictions materialize, it will serve as another indication that OPEC+ is confronting increasing challenges amid signs of weakening global oil demand. On May 6, OPEC+ moved to increase daily production by 411,000 for June, putting the total increase in the output…

The Ray-Ban Meta Smart Glasses set out to achieve a worthy goal: Combine the basic functionality of a pair of glasses (or sunglasses) with many of the media and AI features you’d get from a smartphone. This way, you can capture photos and videos, listen to music, and interact with a digital assistant without ever having to pull out your phone. Instead, the glasses you’re already wearing can cover all those functions — at least, that’s the idea.In practice, the Ray-Ban Meta Smart Glasses are a bit more style than substance. The main issue? In most cases, your smartphone still…

Donald Trump is heading back to the Middle East. His plan to bring the Gulf states’ petrodollars flowing to the US could be a bit more complicated than the last time he was in office.On Tuesday, the president is due to touch down in Saudi Arabia’s capital to kick off the first bilateral overseas trip of his second term. Over a three-day period, he’s expected to crisscross Qatar and the UAE too in the hope of securing deals — lots of deals.Trump’s dealmaking ambitions will be in particular focus in Riyadh at the Saudi-US Investment Forum. Saudi Arabia’s crown prince,…

(Investing) – SAO PAULO -Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China’s Envision Energy to produce sustainable aviation fuel, as the country’s president visits China. President Luiz Inacio Lula da Silva met with energy companies as well as with automaker GAC, and Chinese defense company Norinco. Minister of Mines and Energy Alexandre Silveira told journalists in China the Brazilian government would also seek to secure Chinese investments in data centers in Brazil and would be meeting TikTok on Tuesday. Reuters reported last month that ByteDance, owner of TikTok, is considering installing data centers in the…

Kazakhstan’s oil exports via the Caspian Pipeline Consortium (CPC) are poised for a significant decline in May, with daily shipments of CPC Blend crude from Russia’s Black Sea port of Novorossiysk expected to drop to approximately 1.5 million barrels per day (bpd), down from 1.6 million bpd in April, according to industry sources cited by Reuters. The CPC pipeline, the main mechanism for Kazakhstan’s oil exports, has faced multiple disruptions in recent months, with geopolitics driving the dynamics and uncertainty. Effective April 1, CPC blend oil exports were capped at 1 million bpd, depriving the market of some 700,000 bpd, after Russian…

Drilling waste management specialist, TWMA*, has been awarded a contract with bp to provide drilling waste management services in the UK North Sea. This agreement reinforces TWMA’s position as a trusted provider of innovative solutions to the global energy industry.  The three-year agreement, which includes options for renewal, commenced in October 2024 and underscores TWMA’s capability to deliver high quality solutions to support major operators in meeting their operational and sustainability goals. The scope of work will utilize TWMA’s cutting-edge technologies, including its RotoMill**, enabling the safe and efficient processing of drilling waste directly at the wellsite. By…

Opec+’s repeated decisions to boost oil output signal an acceptance by Saudi Arabia that it is unable to push prices higher, say analysts, amid growing frustrations with other members of the cartel and ahead of a key visit to the region by US President Donald Trump.The Saudi-led group has surprised the oil market three times in as many months by raising production faster than expected, having previously delayed the unwinding of long-standing output cuts in an effort to support crude prices.While Opec-watchers are divided over whether Saudi Arabia wants to bring back all its curtailed production or just part of…