Author: omc_admin

Windhoek: The Namibian Ports Authority (Namport) cancelled a pre-qualification tender for a new oil and gas supply base at Luderitz just days after launching it and without explanation, its Facebook page showed on Friday.The sudden cancellation is a blow to government efforts to accelerate development at Luderitz port, the smaller one of only two commercial ports in the Southern African country and an important energy service centre. An exploration hotspot following a string of offshore discoveries by Shell, TotalEnergies, Galp and Rhino Resources, Namibia has ambitions to deliver first oil by 2030 with Luderitz being designated as the country’s energy…

U.S. President Donald Trump said on Friday he does not need to immediately impose retaliatory tariffs on countries such as China for buying Russian oil, though he may revisit the issue “in two or three weeks”, reported Reuters quoting Fox News.Trump has threatened fresh sanctions on Moscow and secondary penalties on nations purchasing its crude if no steps are taken to end the war in Ukraine. India and China remain Russia’s two largest oil buyers.Last week, Trump announced an additional 25% tariff on Indian exports, citing New Delhi’s continued oil imports from Russia. But he has not yet taken similar…

New Delhi: India is set to launch a deepwater exploration mission to boost domestic oil and gas output and reduce dependence on imports, Prime Minister Narendra Modi said in his Independence Day speech on Friday.A significant portion of the national budget is spent on importing fuel, and if that were not the case, the same funds could be used to create opportunities for the youth, the poor, and farmers, Modi said.”Now we are working towards becoming self-reliant,” he said. “We want to work in mission mode to search for oil and gas reserves in the sea. And so, India is…

TORONTO (AP) — Air Canada suspended all operations as more than 10,000 Air Canada flight attendants went on strike early Saturday after a deadline to reach a deal passed, leaving travelers around the world stranded and scrambling during the peak summer travel season.Canadian Union of Public Employees spokesman Hugh Pouliot confirmed the strike has started after no deal was reached, and the airline said shortly after that it would halt operations.A bitter contract fight between Canada’s largest airline and the union representing 10,000 of its flight attendants escalated Friday as the union turned down the airline’s request to enter into…

BUNER, Pakistan (AP) — Rescuers in northwest Pakistan pulled 63 more bodies overnight from homes flattened by landslides and flash floods, raising the death toll from rain-related incidents to at least 220, officials said Saturday.Hundreds of rescue workers are still searching for survivors in Buner, a mountainous district in Khyber Pakhtunkhwa province where torrential rains and cloudbursts triggered massive flooding on Friday, said Mohammad Suhail, a spokesman for the emergency services. Dozens of homes were swept away.According to the provincial disaster management authority, at least 351 people have died in rain-related incidents this week across Khyber Pakhtunkhwa and the northern…

Each September, Climate Week NYC gathers leaders from across business, finance, government, and civil society. These events often promise bold declarations, new initiatives, and high-level visibility. But this year, something else may carry greater weight: presence. Showing up—quietly, persistently—has become a form of leadership. The mood in the ESG community today carries multiple registers. There is anxiety—about shifting political winds, uncertain institutional support, and the risk of being sidelined. There is also defiance, grounded in conviction and shaped by experience. And most importantly, there is quiet resilience. Professionals across sectors continue the work, with discipline and resolve, regardless of the…

A BlackRock Inc.-led group signed an $11 billion lease deal involving Saudi Aramco natural gas facilities as the state producer seeks to raise cash from infrastructure assets. A group led by BlackRock’s Global Infrastructure Partners unit will lease infrastructure that serves the Jafurah gas project and lease them back to Aramco for 20 years, according to a statement. Aramco is developing the over $100 billion Jafurah project to supply fuel to domestic power plants as well as for export. State-controlled Aramco has been seeking international capital by selling stakes in some assets. The company is a major source of revenue…

(Oil Price)– U.S. Devon Energy Corporation has signed a 10-year natural gas agreement to supply LNG to UK’s Centrica, the owner of British Gas. Under the deal announced on Friday, Devon Energy will supply 50,000?(MMBtu) per day of natural gas over a 10?year term starting in 2028. This is equivalent to five LNG cargoes per year. The LNG volumes will be indexed to the European gas hub price, TTF. The agreement supports Centrica’s objective of managing market price risk in its LNG portfolio by aligning feed gas pricing with European gas prices whilst providing Devon Energy with international price exposure, the UK…

Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) have highlighted new employment figures showing a decrease in upstream employment in Texas in the month of July. According to TIPRO’s analysis, direct Texas upstream employment for July totaled 205,200, a decline of 1,400 industry positions from revised June employment numbers. This represented an increase of 200 jobs in oil and gas extraction and a decrease of 1,600 jobs in the services sector. As communicated in previous reports, TIPRO says fluctuations in monthly employment are…

Oil drifted lower, settling below $66 a barrel, as investors awaited a face-to-face summit between Donald Trump and Vladimir Putin later Friday, an encounter with the potential to reshape crude flows from one of the world’s largest producers.  Putin stepped up his charm offensive, praising Trump’s efforts to broker an end to the war in Ukraine. The US president downplayed hopes for a breakthrough in the more than three-year-old conflict, saying there’s a 25% chance the meeting won’t succeed. Any signs of progress toward peace would remove a layer of geopolitical risk from an oil market that’s expected to be heavily…