Author: omc_admin
Stay informed with free updatesSimply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.The world’s largest oil companies are braced for their toughest year since the coronavirus pandemic, as falling crude prices squeeze profits and shake investor confidence ahead of the quarterly earnings season. This year is set to mark Big Oil’s third consecutive 12-month period of falling profits, which have dropped sharply from the highs of 2022 that followed Russia’s full-scale invasion of Ukraine. The adjusted net income of five of the biggest western oil companies — ExxonMobil, Shell, TotalEnergies, Chevron and…
Ahmedabad: revenue from operations increasing by 15 per cent at ₹1,448 crore in Q4 FY25.For the entire FY25, operational revenue rose by 12 per cent on account of higher volume, primarily on CNG segment.The volume went up 13 per cent in Q4 FY25 and 15 per cent year-on-year in FY25. The company earned a consolidated PAT of ₹155 crore in Q4.In the January-March period, the company added 42 new CNG stations to reach 647, while expanding PNG home connections to 9.63 lakh, adding 40,991 new households.It expanded its footprint to 3,401 installed electric vehicle (EV) charging points across 26 states/UTs.”During…
Warsaw: U.S. liquefied natural gas supplies to Europe will continue to rise, U.S. Energy Secretary Chris Wright told Reuters on Monday during a visit to the Polish capital Warsaw.The United States is the world’s largest exporter of LNG and has played a major role in supplying Europe since Russia’s full-scale invasion of Ukraine in 2022 significantly reduced the amount of Russian gas piped to Europe. However, now that U.S. President Donald Trump has rocked relations with Europe and turned to energy as a bargaining chip in trade negotiations, businesses are wary that reliance on the U.S. has become another vulnerability.…
Weatherford International plc said it has signed a strategic memorandum of understanding (MoU) with Abu Dhabi-based artificial intelligence firm AIQ. The collaboration aims to integrate Weatherford’s software and hardware solutions with AIQ’s AI-driven systems, Weatherford said in a news release. The combination will enable operators to “optimize their production workflows, reduce downtime, and significantly enhance operational efficiency across global oil and gas facilities,” the company added. Weatherford President and CEO Girish Saligram said, “We are excited to partner with AIQ to bring innovative, AI-driven solutions to the oil and gas industry. This strategic partnership allows us to deliver cutting-edge technologies…
Economic Uncertainty and OPEC+ Supply Concerns Weigh on Oil Oil markets today are grappling with broad macro uncertainty. Conflicting signals on U.S.-China trade negotiations continue to cloud the outlook for global growth and fuel demand. Analysts highlight the trade war’s dominant role over nuclear talks with Iran or internal OPEC+ tensions. Investors remain sensitive to headlines, with any sign of thawing trade relations seen as a potential catalyst for buying interest. Meanwhile, expectations that OPEC+ could accelerate production hikes at its upcoming May 5 meeting are adding to supply-side pressure. China’s Crude Imports Surge, But Demand Questions Remain Fresh data…
Schlumberger Ltd. (SLB) has reported $797 million in net income for the first quarter (Q1), down about a fourth from the prior three-month period and Q1 2024 as revenue fell 9 percent sequentially and 3 percent year-on-year to $8.49 billion. Net earnings excluding charges and credits landed at $988 million or $0.72 per share. That dropped 25 percent quarter-on-quarter and 9 percent year-on-year, missing the Zacks Consensus Estimate of $0.74, based on brokerage analysts’ projections. SLB’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) declined 15 percent quarter-on-quarter and 2 percent year-on-year. Adjusted EBITDA margin was 23.8 percent. “First-quarter…
New York City has launched its first microhubs — small sites where delivery trucks unload packages onto cargo bikes and hand carts for the final stretch. The goal is to reduce traffic, double parking, and pollution from delivery trucks. What’s RelatedThe first three microhubs opened on the Upper West Side at Amsterdam Avenue and West 73rd Street, Amsterdam and West 85th Street, and Broadway and West 77th Street. Amazon, UPS, and Net Zero Logistics are among the first companies to use the new spaces. Each location was picked as part of NYC DOT’s Smart Curbs program. “New Yorkers are receiving…
Amgen announced plans to invest $900 million in expanding its manufacturing facility in Central Ohio. This move will create 350 new jobs, bringing the company’s total investment in the state to over $1.4 billion. What’s RelatedThe expansion will increase the total number of jobs at the site to 750. Amgen, which first entered the Columbus Region in 2021, cited Ohio’s business climate, skilled workforce, and strategic location as key factors in its decision to deepen its commitment. “Today’s investment reinforces our ongoing commitment to expanding U.S. manufacturing and ensuring patients around the world have access to our innovative medicines,” said Robert…
The struggling Japanese car manufacturer Nissan has decided to discontinue its production in Wuhan, China. The plant, which Nissan operates with its Chinese partner Dongfeng, was only opened in 2022. Nissan is currently building the battery-electric Ariya and the X-Trail combustion-powered SUV at the plant in Wuhan. However, the capacity utilisation at the plant is apparently extremely low: According to the Japanese newspaper Yomiuri, less than ten per cent of the annual capacity of 300,000 vehicles is currently being utilised, which is why the continued operation of the plant is not considered to be worthwhile. Nissan is currently in a…
The Croatian capital is pressing ahead with its electrification plans for public transport. Zagreb’s operator ZET has started the tender process for 70 battery-electric buses to modernise and decarbonise the city’s fleet. The City of Zagreb is taking the next step towards cleaner urban mobility by initiating the purchase of 70 battery-electric buses. Public transport company ZET has published a preliminary tender covering three types of buses: standard 12-metre vehicles, articulated models, and smaller midi-buses. According to the tender, ZET is looking to acquire 33 standard buses, 29 articulated buses, and eight midi-buses. The standard and articulated buses must offer…