Author: omc_admin

Ministry of Commerce says ‘door is open’ to talks, but it is willing to ‘fight to the end’ otherwise.China has said it is considering proposals by the United States to begin negotiations on US President Donald Trump’s sweeping tariffs. The US has “recently, through relevant channels, actively conveyed messages to China, expressing a desire to engage in talks”, China’s Ministry of Commerce said in a statement on Friday. “China is currently evaluating this.” Beijing’s remarks come after Chinese state media reported earlier in the week that the Trump administration had “proactively reached out” through multiple channels. Trump’s trade war with China has…

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The Railroad Commission of Texas assessed $1,372,720 in enforcement docket fines against operators and businesses at the Commissioners’ open meeting on Tuesday.  The Commission has primary oversight and enforcement of the state’s oil and gas industry and intrastate pipeline safety. Master Default Orders for operators that failed to appear at Commission enforcement proceedings can be found on the RRC Hearings Division web page. Master Agreed Orders in which operators were ordered to come into compliance with Commission rules can be found on the RRC General Counsel web page.  About the Railroad Commission: The Railroad Commission of Texas acts…

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The US justice department on Wednesday filed lawsuits against Hawaii and Michigan over their planned legal action against fossil fuel companies for harms caused by the climate crisis, claiming the state actions conflict with federal government authority and Donald Trump’s energy dominance agenda.The suits, which legal experts say are unprecedented, mark the latest of the Trump administration’s attacks on environmental work and raise concern over states’ abilities to retain the power to take climate action without federal opposition.In court filings, the justice department said the Clean Air Act – a federal law authorizing the Environmental Protection Agency (EPA) to regulate…

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Bullish Hammer Pattern There is a possible one-day bullish hammer reversal candle to be established today. If so, a breakout above today’s high confirms the pattern. It shows sellers being in control earlier in the day’s trading session as crude oil dropped below yesterday’s low and signaled a bearish continuation. But sellers could not maintain control and the price of crude subsequently advanced following a $56.67 low. Thursday’s trading range was relatively wide, from $56.67 to $59.33, and it occurred within a sharp three-day decline contained within a larger bearish trend. Therefore, it wouldn’t be surprising to see a day…

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bp today announced an oil discovery at the Far South prospect in the deepwater U.S. Gulf of America/Gulf of Mexico. bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. The well was drilled to a total depth of 23,830 feet. The Far South co-owners are bp (operator, 57.5%) and Chevron U.S.A. Inc. (42.5%). Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. Preliminary data supports a potentially commercial volume of hydrocarbons. This discovery in…

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Woodside has entered into an agreement with Perenco to divest its Greater Angostura assets in Trinidad and Tobago for $206 million. The divestment is inclusive of Woodside’s interest in the shallow water Angostura and Ruby offshore oil and gas fields, associated production facilities and the onshore terminal. The transaction provides near-term cash flow to support ongoing investments and shareholder distributions and builds on the Australian asset swap announced in December 2024, further simplifying Woodside’s portfolio.1 Woodside CEO Meg O’Neill said the development of Greater Angostura was made possible by the support of the Government of Trinidad and Tobago,” O’Neill said.…

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GROTON, Conn. (AP) — About 2,500 workers at Electric Boat shipyard in Connecticut plan to strike on May 18 if a tentative contract agreement is not reached with the submarine builder, the union president announced during a rally Thursday.About 300 union members cheered the announcement made by Bill Louis, president of the Marine Draftsmen’s Association-United Auto Workers of America, Local 571, The Day of New London newspaper reported. “We’re officially putting the company on notice that if we don’t have an agreement at 11:59 p.m., we strike at midnight May 18,” Louis told the union members, most of whom are…

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Researchers from the Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) along with international collaborators have brought us one step closer to harnessing the sun’s energy to convert carbon dioxide into liquid fuel and other valuable chemicals. In a recent publication in Nature Catalysis, the researchers debut a self-contained carbon-carbon (C2) producing system that combines the catalytic power of copper with perovskite, a material used in photovoltaic solar panels. This advance builds on over 20 years of research and brings the scientific community one step closer to replicating the productivity of a green leaf in nature.  This work is part of…

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President Donald Trump said Thursday any country or person that buys oil or petrochemicals from Iran will not be allowed to do any business with the U.S. U.S. crude oil futures rose $1.11, or 1.91%, to $59.32 per barrel, while global benchmark Brent was up $1.15, or 1.88%, to $62.21 per barrel. Iran is one of the biggest oil producers in OPEC. “Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions,” Trump said in a post on his social media platform Truth Social. “They will not be allowed…

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GEP News & Resources Page 1 of 6 pages. 2025 Spend Forecast: Emerging Trends in Global Procurement March 6, 2025 Discover the key procurement trends and spend category insights that will shape 2025 with GEP’s latest report, offering strategic guidance to help businesses optimize their procurement strategies and navigate a rapidly evolving global market. Total Procurement Orchestration: The Key to Seamless, AI-Driven Sourcing February 27, 2025 Total procurement orchestration leverages AI-driven sourcing, automation, and low-code workflows to streamline procurement processes, enhance visibility, and empower strategic decision-making, transforming procurement into a seamless, data-driven, and collaborative function. Source link

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