Author: omc_admin
Car Online, an Iran-based campaign on social media channels, has started to call on its subscribers and followers to incite Yemenis to target facilities of Saudi oil giant Aramco, as a revenge against U.S. strikes against Iranian nuclear sites, the Foundation for Defense of Democracies (FDD) says. The Car Online channel on Telegram began its life as an Iranian social media operation, FDD researchers uncovered last week. During the so-called 12-day war between Israel and Iran, the Car Online operation was instructing followers how to create fake X accounts and use ChatGPT to translate posts from Persian into Hebrew—posts that were…
(WO) — TotalEnergies has agreed to acquire the 25 % interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, expanding its position in a basin the company already operates. The transaction aligns TotalEnergies with APA Corporation (45 %, operator) and Petronas (30 %) on the licence, which lies directly east of Block 58. TotalEnergies (40 %*) and partners sanctioned the GranMorgu development in Block 58 last October. Block 53 contains the Baja-1 discovery, drilled near the block border. “This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project,” said Javier Rielo, Senior Vice…
On Sunday morning, in response to the geopolitical shock of the US bombing Iran, I turned to ChatGPT’s Deep Research tool. I asked it to spend three hours analyzing the situation to come up with five US stock trades that would make money through this Thursday. I did this before Asian markets opened, so the tool had to make predictions about the future with little to no clues from real-time market data. This is a real test of whether AI models and chatbots can generate valuable new insights, or whether they just regurgitate what’s already known on the internet.Deep Research…
Following the collapse of geopolitical risk premium in oil prices, oil is back to trading on supply, demand, and OPEC+ expectations.The Israel-Iran ceasefire and the lack of subsequent retaliatory attacks has drained oil markets of the elevated geopolitical risk that saw Brent near $80 per barrel last week, only to post a $9 per barrel week-on-week drop and trade around $68 per barrel on Friday. Now that the Middle East is relatively calm, there are two main price-defining events ahead – OPEC+ with its July 06 meeting and Donald Trump with his July 09 tariff war deadline.Shell Denies BP Takeover…
BP chief executive Murray Auchincloss laughed off the question when asked this year if everything at the struggling oil company was up for sale. “I don’t know,” he responded. “Nobody ever comes up with the right price.”His efforts to restore the fortunes of the 116 year-old group and preserve its independence received a boost this week when its UK rival Shell declared it had “no intention” of pursuing a deal that would have created a supermajor to rival ExxonMobil. Yet while Shell is now barred from making a new offer before Christmas, unless BP initiates talks or another suitor emerges,…
Shell PLC and Equinor ASA have named their United Kingdom North Sea joint venture Adura, which they announced December as the biggest independent producer on the UK’s side of the sea. “Work continues towards securing regulatory approvals, with launch of the IJV [incorporated JV] expected by the end of this year”, Norway’s majority state-owned Equinor said in an online statement. Adura, which will be equally owned, combines the two companies’ offshore assets in the UK, where Shell currently produces over 100,000 barrels of oil equivalent a day (boed) and Equinor about 38,000 boed. “Adura is expected to produce over 140,000 barrels…
After days of blistering heat, the nation’s sweaty East Coast got to open windows, step outside and get temporary relief on Friday as temperatures plummeted as much as 40 degrees and humidity dropped alongside.At least 68 record highs were set and more than 20 places logged triple-digit heat from Sunday through Wednesday before a cold front from the north broke a heat dome’s grip on the region Friday. Boston, which hit a record 102 Fahrenheit (about 39 Celsius) on Tuesday, was at 61 (about 16 Celsius) on Friday.That blast of cool comfort brought temperatures as much as 10 to 15…
The cost of shipping Middle East crude to customers in Asia collapsed on Thursday, the latest sign of oil markets returning to normal after conflict eased in the world’s top petroleum-exporting region. Charter rates slumped by 17% to 55.50 industry-standard Worldscale points, according to data from the Baltic Exchange in London. It works out at roughly $1.60 a barrel. “Risk premiums have naturally faded,” said Fredrik Dybwad, an analyst at Fearnley Securities AS. “There is ample vessel availability, and considering normal seasonality, rates should naturally find a lower level.” Shipping prices soared two weeks ago amid concern Iran might disrupt…
In an EBW Analytics Group report sent to Rigzone by the EBW team on Friday, Eli Rubin, an energy analyst at the company, highlighted an “implosion over the past week” in the July natural gas contract. “The July natural gas contract rolled off the board at $3.261 yesterday – a 72.8¢ (-18 percent) implosion over the past week as the heat wave failed to sufficiently lift physical cash prices at Henry Hub,” Rubin said in the report. “Yesterday’s 96 billion cubic foot bearish Energy Information Administration (EIA) injection, while largely a make-up for last week’s bullish surprise, further weighed on prices,”…
Facebook, Instagram, and WhatsApp owner Meta and clean energy developer Invenergy announced that they have signed a series of agreements, providing Meta with nearly 800 MW of renewable energy from new wind and solar projects in the U.S. to support its operations and data center growth. Under the new agreement, electricity from four new projects in Ohio, Arkansas, and Texas will deliver 791 MW of electricity to local grids, with Meta receiving clean energy credits associated with the new generation capacity. Three of the projects, including two solar energy centers in Ohio and one in Arkansas, are expected to begin…