Author: omc_admin

China’s imports of liquefied natural gas are set to decline for the 13th month in a row in November amid higher domestic production and pipeline imports, Bloomberg has reported, citing Kpler data.The country’s November total in imports is seen at 5.81 million tons, which would be a 5.5% decline from a year ago, Kpler said. The decline would be significantly smaller than the ones registered for the previous two months, both of which were at over 10% on the year.Last year, China saw a surge in LNG and pipeline gas imports as it sought to fill its storage caverns. Over…

Trump has already confirmed that India has “very substantially” stopped buying oil from those firms.The Global Trade Research Initiative (GTRI) has put the spotlight firmly on the US oil-linked tariff, urging the Board of Trade (BoT) to make securing its rollback India’s top trade priority. The BoT, chaired by the Commerce and Industry Minister and meeting today to propose measures to revive export growth, has been asked to press Washington to withdraw the additional 25 per cent “Russian oil” duty before India enters any trade-pact discussions with the United States.GTRI notes that the surcharge was originally imposed on countries sourcing…

Russia could boost its crude oil exports to China, extending existing agreements, Deputy Prime Minister Alexander Novak said today, noting specifically a deal for the export of Russian crude via Kazakhstan that could be extended by 10 years until 2033.Reuters recalls that Russia currently exports some 1.4 million barrels of Russian crude by sea and another 900,000 barrels daily by pipeline, via Kazakhstan. This is not the first time that the two have discussed boosting the pipeline flows. Indeed, earlier this year, Russia suggested it could increase the flow of oil to China via the Atasu-Alashankou pipeline by 2.5 million…

KURT S. ABRAHAM, EDITOR-IN-CHIEF & CHIEF FORECASTER  Among the policy initiatives that the Trump administration has promised to make good on since taking office has been to rejuvenate offshore oil and gas leasing. Indeed, we’ve heard various comments out of the U.S. Department of the Interior (DOI) over the last six to eight months that a complete overhaul of federal offshore leasing coming soon, with a new, draft five-year plan.  Fig. 1. DOI’s proposed leasing program includes 21 areas off the coast of Alaska. Map: DOI. Well, finally, the waiting is over. On Nov. 20, DOI announced the new offshore strategy, and it is significant. DOI has composed a Secretary’s Order titled “Unleashing American Offshore Energy,”…

Dawn was breaking over the Amazonian city of Belém on Saturday morning, but in the windowless conference room it could have been day or night. They had been stuck there for more than 12 hours, dozens of ministers representing 17 groups of countries, from the poorest on the planet to the richest, urged by the Brazilian hosts to accept a settlement cooked up the day before.Tempers were short, the air thick as the sweaty and exhausted delegates faced up to reality: there would not be a deal here in Brazil. The 30th UN climate conference would end in abject failure.The…

(World Oil) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%. The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an inventory of development locations alongside proved reserves of roughly 200 MMboe with a PV-10 value of about $690 million. To finance the transaction, Diversified closed a $400 million asset-backed securitization (ABS XI) structured through a master trust and privately rated…

Oil prices saw a rise on Monday. Hopes for a US interest rate cut in December and uncertainty over a Russia-Ukraine peace deal boosted prices.Oil prices climbed about 1 per cent on Monday on increased bets of a US interest rate cut in December and mounting doubts about whether Russia will get a peace deal with Ukraine that will boost Moscow’s oil exports. Brent futures rose 81 cents, or 1.3 per cent, to settle at $63.37 a barrel. West Texas Intermediate (WTI) crude gained 78 cents, or 1.3 per cent, to settle at $58.84.On Friday, both crude benchmarks closed at…

Oil and Natural Gas Corporation (ONGC) led spending with ₹19,267 crore in April to October, meeting 55% of its annual capex goal of ₹34,900 crore. State-run oil and gas companies have spent ₹71,000 crore in the first seven months of FY26, amounting to 54 per cent of their combined capital expenditure target of ₹1.32 lakh crore, according to ET Bureau.Oil and Natural Gas Corporation (ONGC) led spending with ₹19,267 crore in April to October, meeting 55 per cent of its annual capex goal of ₹34,900 crore. The expenditure included drilling activity, exploration work and projects aimed at boosting recovery from…

ADNOC has unveiled a sweeping $150 billion investment plan for 2026–2030, marking one of the largest investment cycles in its history and reinforcing the UAE’s long-term commitment to oil, gas, and industrial expansion. The announcement, approved at the board meeting chaired by Sheikh Mohamed bin Zayed Al Nahyan, coincided with increases in the UAE’s hydrocarbon reserves and marks a further pivot to downstream and international expansion.Over five years, the $150 billion will be deployed across upstream capacity maintenance, expanded natural gas output, and accelerated growth in downstream and chemicals. ADNOC highlighted major progress in developing Abu Dhabi’s unconventional resources, which…

(Oil Price) – Growing domestic and export demand for Permian’s natural gas is pushing pipeline developers to invest in new pipeline capacity in the U.S. Gulf Coast. Chemical and manufacturing industries and data centers looking for reliable energy supply drive increased domestic consumption, while the booming LNG exports from the Texas and Louisiana coasts, and at least half a dozen new export plants expected to start up by the end of the decade, are prompting new-built or expanded links to feed gas to the LNG facilities. With a favorable in-state regulatory landscape in both Texas and Louisiana, and with the Trump…