Author: omc_admin

Tesla told Austin workers on its Model Y and Cybertruck lines to stay home for the week of Memorial Day, three workers told Business Insider.The break is unusually long, the workers said. Production lines were up and running during the same period last year, they said.The electric vehicle maker notified employees earlier this week. The workers, who are paid hourly, were told they could either take paid time off or come in for cleaning and training but would not be working on the production line. The workers said their schedules had been increasingly inconsistent since February. Some said they had…

Oman is looking to sell a stake in natural gas assets valued at about $8 billion, according to people familiar with the plan, as the sultanate seeks to raise cash to shore up its state finances and fund investments.  State-owned firm Energy Development Oman SAOC is seeking partners for a minority stake in the fields contained in Block 6, which also holds the country’s most prized oil assets, the people said, asking not to be named because the plans are private. Besides bringing in funds for Oman, a sale would also help spread the billions of dollars of costs needed…

(World Oil) – A federal jury in the Southern District of Texas has ruled in favor of Marathon Oil Company in a high-stakes natural gas trading dispute stemming from Winter Storm Uri. The jury rejected a $123.7 million breach-of-contract counterclaim filed by Koch Energy Services, siding instead with Marathon’s force majeure defense related to deliveries during the historic February 2021 storm. Marathon was jointly represented by Haynes Boone and AZA during the trial. Haynes Boone attorneys Mark Trachtenberg, Ryan Pitts and Garrett Martin worked in close coordination with AZA’s trial team, which included Tim Shelby, Sammy Ford IV, Paul Galante, Emily Adler, Michael Gorrell and…

Oil rose as algorithmic traders fled short positions amid renewed optimism about trade talks between the US 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,…

Shell’s plans to juice output from its deepwater Perdido development in the U.S. Gulf of Mexico just ran into a delay-shaped pothole. Two new wells intended to lift production from the Great White unit—one of the stars of the Perdido complex—won’t come online until the end of the year, the company confirmed this week. That’s a shift from the original timeline, which had all three wells humming by April.One of the three did go live in March, but the other two are lagging. All told, the trio was expected to bring up to 22,000 barrels of oil equivalent per day…

(Bloomberg) – Thailand said it’s interested in co-developing a massive gas pipeline project in Alaska backed by President Donald Trump, as the Southeast Asian nation explores ways to cut its $46 billion trade surplus with the U.S. before tariff talks.  Thai officials discussed Bangkok’s potential involvement in the $44 billion Alaska venture — a long-delayed pipeline that will stretch across the state — through investments in gas exploration and production and related infrastructure with project officials, the Ministry of Energy said in a statement on Thursday.  Thailand is also open to signing a long-term contract to import about 3 to…

Max Levchin, co-founder of PayPal and chief executive officer of financial technology company Affirm, arrives at the Sun Valley Resort for the annual Allen & Company Sun Valley Conference, in Sun Valley, Idaho.Drew Angerer | Getty ImagesAffirm shares plunged on Friday after the fintech company issued a weak forecast, and investors questioned CEO Max Levchin’s plan to go big in 0% loans.The buy now, pay later lender said revenue this quarter will be between $815 million and $845 million. The midpoint of the range was short of the $841 million average analyst estimate, according to LSEG.Levchin, who founded the company…

(Bloomberg) – Thailand said it’s interested in co-developing a massive gas pipeline project in Alaska backed by President Donald Trump, as the Southeast Asian nation explores ways to cut its $46 billion trade surplus with the U.S. before tariff talks.  Thai officials discussed Bangkok’s potential involvement in the $44 billion Alaska venture — a long-delayed pipeline that will stretch across the state — through investments in gas exploration and production and related infrastructure with project officials, the Ministry of Energy said in a statement on Thursday.  Thailand is also open to signing a long-term contract to import about 3 to…

I test TVs for a living, so I review all kinds of display types. While there’s a lot to like about LED and QLED models, OLED displays impress me the most. They’re pricey, but the best OLED TVs deliver better black levels, higher contrast, and wider viewing angles than other types of TVs. If picture performance is your priority, there’s no substitute for an OLED.To help you find the right model for your needs, I used my expertise to put together a guide to the five best OLED TVs available. My top pick for most people is the Samsung S90D,…

Paul Singer’s Elliott Management is kicking the tires on a deal that would have been unthinkable just a few years ago: buying a stake in a pipeline that carries Russian natural gas into Europe.The pipeline in question is the Bulgarian extension of TurkStream—Russia’s last functioning gas artery to the continent. With the rest of its gas empire sanctioned, sabotaged, or politically radioactive, TurkStream is the Kremlin’s last straw clutched tightly in the hand of European demand. Now, Elliott is reportedly sniffing around that straw, according to the Wall Street Journal, possibly as part of a broader play to scoop up…