Author: omc_admin

An apparent error by Microsoft’s Copilot is roiling a UK police scandal.On Monday, West Midlands Police chief constable Craig Guildford wrote to a Parliamentary committee that his officers did not catch a hallucination by Microsoft’s AI tool when they were preparing their security recommendations for a soccer match between Maccabi Tel Aviv and Aston Villa on November 6.Ultimately, fans of Maccabi Tel Aviv were barred from attending the UEFA Europa League fixture, a decision that sparked a torrent of criticism reaching as high as Prime Minister Keir Starmer.The episode highlights the importance of all workers verifying AI output as the…

Industry consultant Enverus has predicted that Venezuela will increase oil production 50% and hit 1.5 million barrels a day by 2035 following the capture of long-time leader Nicolas Maduro by the Trump administration. In its most bullish scenario, Enverus envisions Venezuela’s production tripling to 3 million barrels per day over the next decade. However, Enverus has predicted that the 30-50 million barrels that Trump ordered Venezuela to relinquish to the U.S. will not have a major impact on global markets.“Even with accelerated sanctions relief, we still see 1–2 million barrels per day of global oversupply in the first half of 2026 and…

(Investing) – The decline in U.S. natural gas prices appears excessive given the market’s underlying fundamentals, according to Morgan Stanley. Analyst Devin McDermott said prices have retreated around 35% from December highs, but “prices have pulled back too far,” even after accounting for milder weather and a brief supply pickup. Morgan Stanley now forecasts Henry Hub at $4.25 in 2026, “~22% above futures.” Natural gas briefly traded above $5 in early December, supported by stronger-than-expected storage levels, record LNG flows and a cold start to winter. McDermott noted that prices have since fallen to roughly $3.40 as weather forecasts turned warmer…

The Environmental Protection Agency says it will stop calculating how much money is saved in healthcare costs avoided and deaths prevented from air pollution rules that curb two deadly pollutants.The change means the EPA will focus rules for fine particulate matter and ozone only on the cost to industry, part of a broader realignment under Donald Trump toward a business-friendly approach that has included the rollback of multiple policies meant to safeguard human health and the environment and slow climate change.The agency said in a statement late on Monday that it “absolutely remains committed to our core mission of protecting…

Eco Atlantic Oil & Gas said it is in discussions with the Government of Guyana to continue appraisal and exploration activities on the offshore Orinduik Block after the license reached the end of its second renewal term on Jan. 14, 2026. The company, working with partner Navitas Petroleum, said Guyana’s Petroleum Act allows Eco to retain rights to the Jethro-1 and Joe-1 discoveries pending approval of a submitted appraisal program. Joint submissions have been provided to the Ministry of Natural Resources and the Guyana Geology and Mines Commission. Eco said the discussions are part of the country’s customary regulatory process…

(WO) – Energy Workforce & Technology Council said U.S. oilfield services employment edged lower in December 2025, closing out a year marked by workforce adjustment and market uncertainty.  Energy services employment totaled 629,372 jobs in December, down 184 positions from November, according to preliminary data from the Bureau of Labor Statistics and EWTC analysis. The December figures cap a year in which employment peaked at just over 640,000 jobs in April before trending lower through the second half of 2025. By year-end, oilfield services employment was roughly 11,000 jobs below its spring high, representing a year-over-year decline of…

Eco Atlantic Oil & Gas said it is in discussions with the Government of Guyana to continue appraisal and exploration activities on the offshore Orinduik Block after the license reached the end of its second renewal term on Jan. 14, 2026. The company, working with partner Navitas Petroleum, said Guyana’s Petroleum Act allows Eco to retain rights to the Jethro-1 and Joe-1 discoveries pending approval of a submitted appraisal program. Joint submissions have been provided to the Ministry of Natural Resources and the Guyana Geology and Mines Commission. Eco said the discussions are part of the country’s customary regulatory process…

Kazakhstan cut oil production in December by more than 200 Kb/d, with output averaging 1.522 million barrels per day in the final month down from 1.759 mb/d in November. December production was also significantly lower than the full-year average of 1.776 mb/d for 2025. The lower production was attributed to the forced suspension of Single Point Mooring (SPM-3) following a drone attack coupled with adverse weather conditions that hit the Black Sea. Unidentified drones struck two oil tankers in the Black Sea, including one chartered by Chevron (NYSE:CVX), enroute to a terminal on the Russian coast. Kazakhstan authorities have urged U.S.…

TotalEnergies has signed a sale and purchase agreement to divest its 10% non-operated oil interest in Nigeria’s Renaissance joint venture, formerly the Shell Petroleum Development Company (SPDC) JV, as part of its ongoing portfolio rationalization in the country. Under the agreement, TotalEnergies EP Nigeria will sell its 10% participating interest in 15 oil-producing licenses within the Renaissance JV to Vaaris, along with associated rights and obligations. Production from these licenses represented about 16,000 boe/d net to TotalEnergies in 2025. The company will also transfer its 10% participating interest in three gas-producing licenses—OML 23, OML 28 and OML 77—while retaining its…

Brent Crude prices have the potential to hit $70 per barrel over the next three months amid heightened geopolitical risks, according to analysts at Citi. The investment bank raised its 0-3 month outlook on Brent Crude prices to $70 per barrel from $65 a barrel previously, due to upside pressure from geopolitical risks.  Early on Wednesday, Brent Crude traded 1% higher at above $66 per barrel as the market has started to price in a potential U.S. strike on Iran and the potential of supply disruptions in the region. “We now think this oil rally has room to extend above our $55-65/bbl forecast…