Author: omc_admin
Oil executive Osayande Igiehon grew up in an area of Nigeria intersected with pipelines — part of the extensive infrastructure established by foreign energy companies to tap his country’s rich reserves.Igiehon believes this first-hand knowledge of the country gives Heirs Energies, the company he leads, a distinct advantage as it steps in to fill the gap left by the majors pulling back from Africa’s largest oil producer.Heirs is among the domestic companies at the forefront of a historic shift in ownership of Nigeria’s oil wealth, as the international groups retreat and ambitious local companies step up to replace them.“The previous…
“>The producer of oil and natural gas will be paid a “fair market price prevailing at the time of pre-emption”, the draft rules said.The government will hold pre-emption rights over all oil and natural gas produced in the country in any event of national emergency, according to draft rules being framed under a revamped oilfields legislation. A pre-emption right (or preemptive right) is the legal right of a party – often a government or existing shareholder – to purchase or claim a product, asset, or resource before it is offered to others. The inclusion of such rights over crude oil…
Big Tech companies train their AI models mostly on the work of other people, like scientists, journalists, filmmakers, or artists. Those creators have long objected to the practice. Now, the US Copyright Office appears to have joined their side.The office released on Friday its latest in a series of reports exploring copyright laws and artificial intelligence. The report addresses whether the copyrighted content AI companies use to train their AI models qualifies under the fair use doctrine. AI companies are probably not going to like what they read.AI companies are desperate for data. Most of them believe that the more…
Beijing and Washington have both hailed the progress made at the end of a weekend of closed-door discussions in Switzerland aimed at de-escalating trade tensions sparked by US President Donald Trump’s aggressive worldwide tariff rollout in March and China’s retaliation. Following the talks on Sunday at the Geneva villa of the Swiss ambassador to the United Nations, US Treasury Secretary Scott Bessent told reporters: “I’m happy to report that we’ve made substantial progress between the United States and China in the very important trade talks.” “The talks were productive,” he added. Trade Representative Jamieson Greer, who also took part in…
Beijing and Washington have both hailed the progress made at the end of a weekend of closed-door discussions in Switzerland aimed at de-escalating trade tensions sparked by US President Donald Trump’s aggressive worldwide tariff rollout in March and China’s retaliation. Following the talks on Sunday at the Geneva villa of the Swiss ambassador to the United Nations, US Treasury Secretary Scott Bessent told reporters: “I’m happy to report that we’ve made substantial progress between the United States and China in the very important trade talks.” “The talks were productive,” he added. Trade Representative Jamieson Greer, who also took part in…
Follow-up to my article published April 26, 2025 in The Geopolitics: “Wall Street: The Last Force That Can Still Restrain President Donald Trump” Introduction: Wall Street’s Real Compass In my April 26 article in The Geopolitics, I explained how Wall Street had emerged as the final institutional force capable of containing President Donald Trump’s disruptive power. While Trump could override political advisers, dismiss legal obstacles, and defy diplomatic norms, he could not ignore the market — especially when that market sends a clear message: he cannot ‘Make America Great Again’ if his policies provoke a prolonged bear market that drains investor confidence…
The growing prevalence of artificial intelligence across numerous industries has been hard to ignore, even for the Catholic Church.Pope Leo XIV, the first-ever US-born pope, addressed the College of Cardinals on Saturday for the first time since the papal conclave. In his speech, the new pope said artificial intelligence influenced his decision to take the name Leo XIV.”Sensing myself called to continue in this same path, I chose to take the name Leo XIV. There are different reasons for this, but mainly because Pope Leo XIII in his historic Encyclical ‘Rerum Novarum’ addressed the social question in the context of the first…
BKV Corporation has formed a strategic joint venture with Copenhagen Infrastructure Partners (CIP), on behalf of its Energy Transition Fund I, to expand BKV’s portfolio of carbon capture, utilization and sequestration (CCUS) projects. CIP, on behalf of its Energy Transition Fund I, has agreed to commit $500 million to be invested by the JV for use in designing, constructing and operating CCUS projects across the United States in exchange for up to a 49% interest in the JV. BKV has contributed to the JV its ownership of the Barnett Zero and Eagle Ford projects, and has committed to…
(Bloomberg) – The drilling unit of the United Arab Emirates’ biggest oil company expects to make three acquisitions in the second half of this year totaling about $500 million, as it expands in technology and hardware to bolster growth. Two of the deals will be for businesses developing artificial intelligence applications, ADNOC Drilling Co. Chief Financial Officer Youssef Salem said in an interview. The third will be a purchase of drilling rigs as the company expands in the Middle East. State-owned Abu Dhabi National Oil Co. listed the drilling unit in 2021 to raise capital and develop a…
(Bloomberg) – Oil rose as algorithmic traders fled short positions amid renewed optimism about trade talks between the U.S. and China this weekend. West Texas Intermediate climbed 1.9% to settle near $61 a barrel, the highest in over a week, as the Trump administration weighs reducing levies on China to de-escalate tensions and temper the economic pain in both countries. The rally was limited by President Donald Trump’s comments that an 80% tariff on China “seems right.” Meanwhile, commodity trading advisers, which tend to exacerbate price swings, liquidated short positions to sit at 91% short in both WTI and Brent on Friday,…