Author: omc_admin

Kuwait Petroleum Corp. is hiring JPMorgan Chase & Co. to help lease part of its pipeline network, according to people familiar with the matter.  KPC aims to raise as much as $7 billion through the deal which would help bankroll the company’s vast investment plan, Bloomberg previously reported. Centerview Partners LLC is already working with the state-backed firm as independent financial adviser, people familiar with the matter have said.  KPC and JPMorgan declined to comment.  The KPC transaction will likely resemble similar deals involving state-owned energy entities in neighboring Gulf states, the people said. Typically, investors such as major infrastructure funds acquire a…

Oil fell to the lowest in nearly five months as OPEC+ is expected to agree on restoring more idled supply in a meeting over the weekend, while the ongoing US government shutdown fueled risk-off sentiment. West Texas Intermediate slid more than 2% to settle at $60.48 a barrel, its lowest close since early May. Brent traded lower to settle near $64, the lowest since late May. Early signs of global oversupply may be emerging in the Middle East, while US crude and gasoline stockpiles swelled last week. In Washington, political uncertainty added another layer of concern as White House press…

2025-10-02T19:40:06Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. OpenAI launched Sora, a new AI-powered app that generates video and audio, this week. Sora lets you scan your face and voice, allowing you to insert yourself into AI-generated videos. Users are creating videos starring CEO Sam Altman. The star of OpenAI’s new Sora app is none other than…

(Oil Price)– The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak demand. The energy agency has predicted that MENA will see another 50% increase in electricity demand by 2035 based on current policy settings, driven by urbanization, industrial expansion and rapid population growth. However, MENA’s energy mix is set to undergo…

Wildfires tore through central Chile last year, killing 133 people. In California, 18,000 buildings were destroyed in 2018 causing US$16bn (A$24bn, £12bn) in damage. Portugal, Greece, Algeria and Australia have all felt the grief and the economic pain in recent years.As the headlines, the death tolls and the billion dollar losses from wildfires have stacked up around the world, so too have the rising temperatures – fuelled by the climate crisis – that create tinderbox conditions.For the first time scientists say they have shown unambiguously that the numbers of “societally disastrous” wildfires – the ones that hit economies hard and…

Danos announced today the acquisition of substantially all assets of Panel Specialists Inc, expanding its technical services in automation and panel fabrication. The move also strengthens Danos’ pressure valve repair services by adding VR and T/O certifications from the National Board of Boiler and Pressure Vessel Inspectors.  “This acquisition is a significant step forward in delivering even greater value to our customers,” said Paul Danos, CEO of Danos. “By combining our strengths, we can enhance the quality, reliability and scope of our services, ensuring customers receive the best possible solutions for their evolving needs.” The purchase includes Panel…

Danos announced today the acquisition of substantially all assets of Panel Specialists Inc, expanding its technical services in automation and panel fabrication. The move also strengthens Danos’ pressure valve repair services by adding VR and T/O certifications from the National Board of Boiler and Pressure Vessel Inspectors.  “This acquisition is a significant step forward in delivering even greater value to our customers,” said Paul Danos, CEO of Danos. “By combining our strengths, we can enhance the quality, reliability and scope of our services, ensuring customers receive the best possible solutions for their evolving needs.” The purchase includes Panel…

Greenpeace activists from 17 countries blockaded Belgium’s Zeebrugge LNG terminal on Thursday, forcing at least three tankers to divert. Protesters in kayaks, inflatables, and small craft occupied the channel, demanding an end to both Russian and U.S. LNG flows. Fluxys, which operates the terminal, told Reuters that operations inside remain unaffected, though tanker access was restricted and the blockade was expected to continue through Sunday.The Megara and Rias Baixas Knutsen, both carrying U.S. LNG, along with the LNG Phecda carrying a Russian cargo, were among the ships that changed course, according to LSEG vessel tracking cited by Reuters. Zeebrugge, which serves…

(World Oil)– Rhino Resources Namibia Ltd. has confirmed a significant gas condensate discovery at the Volans-1X exploration well in Block 2914A, offshore Namibia’s Orange basin. The find represents the company’s third consecutive hydrocarbon discovery on Petroleum Exploration License 85 (PEL 85), where Rhino holds a 42.5% operating interest.   The Volans-1X well, spudded on July 31, 2025, with the Northern Ocean’s Deepsea Mira semi-submersible, reached a total depth of 4,497.5 meters on August 30. Logging operations identified 26 meters of net pay in high-quality Upper Cretaceous reservoirs, with no observed water contact. Hydrocarbon samples indicated a condensate-to-gas ratio exceeding 140…

Remember the Apple Vision Pro?Remember? It was a big, ambitious swing from Tim Cook and Co. — a $3,500 headset that lets you experience “augmented reality” — or, if you follow Apple’s demands for branding — “spatial computing.”Apple first showed off the Vision Pro in the spring of 2023, and then started selling the device in February 2024, and since then … you really haven’t heard much about it.Unless you’ve seen periodic articles about how the device hasn’t taken off, so developers aren’t building for it, which makes it harder to sell, which makes developers even less likely to build…