Author: omc_admin

Post-pandemic demand and the Ukraine invasion delivered windfall profits for oil and gas supermajors—but the rebound was short-lived. Falling prices, rising volatility, and accelerating clean energy investment have exposed structural weaknesses. To stay competitive, incumbents must rethink strategy. Emerging and state-backed players are already leading the way, leveraging diversification and innovation to future-proof their positions.BP logged a record $28 billion profit in 2022, which dropped to $13.8 billion in 2023 and $8.9 billion in 2024. Its fourth-quarter 2024 earnings fell 61% year-on-year—its weakest performance since 2020.This downturn came despite BP scaling back its net-zero commitments to stabilize short-term earnings. The…

Crucial United Nations climate talks this year will be a “slightly uphill battle” due to economic turmoil and Donald Trump’s removal of the US from the effort to tackle global heating, the chair of the upcoming summit has admitted.Governments from around the world will gather in Belem, Brazil, in November for the Cop30 meeting, where they will be expected to announce new plans to deal with the climate crisis and slash greenhouse gas emissions. Very few countries have done so yet, however, and the world remains well off track to remain within agreed temperature limits designed to avert the worst…

Vaquero Midstream is expanding its natural gas gathering and processing system in the southern Delaware basin. The natural gas gathering and processing midstream company has plans for a new 70-mile 24-in. OD high-pressure pipeline loop and a 200-MMcfd cryogenic processing plant, it said in a release Apr. 29.“This expansion of our gathering system will be key in providing direct access on Vaquero’s system from northern Reeves and Loving Counties, Texas, to our processing complex near Waha,” said Harrison Holmes, chief executive officer, as part of the release. The gathering system expansion includes a new pipeline that will originate at Vaquero’s processing complex…

In a warming world with increasingly extreme weather events, homeowners are turning to backup batteries for relief and peace of mind. But the backup only lasts only so long, and there’s a bigger problem at play: aging power grids.Enter the virtual power plant, managed through a cloud-based system. It’s a fertile market for a number of companies as consumers look for more reliability, especially in areas prone to extreme temperatures and storms.Base Power, headquartered in Austin, Texas, is a virtual power plant and hardware company that provides battery backup to homeowners. The startup manages the batteries, and virtually controls the…

In an oil and gas report sent to Rigzone late Monday by the Macquarie team, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 4.3 million barrels for the week ending April 25. “This compares to our early look which anticipated a 7.0 million barrel build. On the product side of the ledger, in aggregate, our expectations are little changed,” the strategists noted in the report. “For this week’s crude balance, from refineries, we model crude runs slightly lower (-0.1 million barrels per day). Among net imports, we model a moderate increase, with exports…

Jared Isaacman, CEO of Shift4 Payments, at the New York Stock Exchange on June 3, 2021.Source: NYSEFintech stocks were in focus Tuesday as fresh earnings reports and analyst notes drove sharp reactions across the sector.Shift4 Payments and Upstart Holdings surged following upbeat news, while PayPal shares were slightly higher despite delivering a strong earnings beat.Shift4 shares rose more than 10% after the company reported better-than-expected first-quarter results and raised its full-year guidance.Shift4 reported adjusted earnings of $1.07 per share, above the LSEG expectation of 71 cents per share. Sales in the first quarter of $848 million were below the consensus…

Blair calls for ‘reset’ in net zero policy, saying voters won’t make sacrifices if they think impact on emissions minimalJessica ElgotJessica Elgot is the Guardian’s deputy political editor.Tony Blair has called for a “reset” of action on climate change, to the dismay of some green campaigners, suggesting the government should focus less on renewables and more on technological solutions like carbon capture.In remarks that have antagonised some in Labour and in industry, the former prime minister said people were “being asked to make financial sacrifices and changes in lifestyle when they know that their impact on global emissions is minimal”.Blair,…

The White House calls the decision ‘hostile’ as the e-commerce company denies any proposal is under consideration.Amazon may soon show how much tariffs imposed by US President Donald Trump will cost consumers who shop on the company’s platform, according to new reporting from the outlet Punchbowl News, citing a person familiar with the plan. In response to the report on Tuesday, White House Press Secretary Karoline Leavitt said she had discussed the Amazon plan with the president, and his message about it was: “This is a hostile and political act by Amazon.” The White House also attempted to deflect the…

An operator for Baker Hughes conducts a wireline survey on a Chesapeake Energy natural gas rig in the North Texas Barnett Shale near Burleson, Texas.Matt Nager | Getty ImagesPresident Donald Trump wants the oil and gas industry to “drill, baby, drill” in pursuit of his energy dominance agenda, but the companies involved in the actual drilling and servicing of wells have instead taken a beating during his first 100 days in office.U.S. crude oil prices have fallen below $65 per barrel, down more than 20% since Trump’s second term began, making it unprofitable for many companies to boost production, according…

If oil had a face right now, it would be grinning awkwardly—and Morgan Stanley can’t look away. According to the bank’s latest note, the Brent crude forward curve has twisted itself into a bizarre shape: it’s sloping down hard across the first nine contracts, then turning upward into 2026.In Morgan Stanley’s words, “there is little historical precedent” for this lopsided smile.What’s behind the weirdness? Blame the usual suspects: a U.S.-driven trade war, OPEC+’s unexpected pump-fest, and a looming surplus that has investors reading the tea leaves—and not liking what they see. Brent prices have already dropped about 12% this month,…