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“Carbon intelligence” solutions provider Climatiq announced that it has raised €10 million (US$11.7 million) in a Series A funding round, with proceeds aimed at accelerating its AI-powered solutions to help companies integrate carbon data into their business decisions. Founded in 2021, Berlin-based Climatiq offers software infrastructure designed to embed carbon intelligence into decision-focused business tools. The company provides a carbon calculation engine, enabling emissions data to be integrated directly within existing enterprise software, going beyond carbon accounting to allow the automation of complex CO2 calculations to help understand the carbon impact of business activities such as procurement, freight transport, cloud…

WASHINGTON (AP) — A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month.Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said Friday. Excluding the volatile food and energy categories, core prices rose 2.7% from a year earlier, an increase from 2.6% the previous month. Both figures are modestly above the Federal Reserve’s 2% target. The Fed tracks core inflation because it typically provides a better guide to where inflation is headed.At the…

(World Oil) – U.S. shale oil producers are unlikely to heed President Donald Trump’s latest call to “Drill, Baby, Drill” as they prioritize hedging over ramping up production in response to U.S. military strikes on Iran. Wary of being caught by yet another false start in global crude markets, U.S. oil companies are likely to use hedging contracts to lock in revenue for future output rather than spend heavily on new drilling, analysts said. Trump called to increase in U.S. drilling in a social media post Monday in order to prevent oil prices from rising. West Texas Intermediate declined 4%…

Union Minister Hardeep Singh Puri on Friday said ONGC has successfully capped the blowout of its crude oil well in Assam’s Sivasagar district after 16 days of gas leakage from there.He said the capping was done without any injury, casualty or fire.”ONGC has successfully capped the blowout of well RDS#147A at 1115 hours hrs today. This blowout started on 12th June and has been capped successfully within shortest possible time following all the best practices,” Puri said in a post on X.— HardeepSPuri (@HardeepSPuri)He said the crisis management team of Oil and Natural Gas Corporation (ONGC) along with the international…

Equinor ASA and its partners have agreed on a NOK-21 billion ($2.09 billion) investment to develop Fram South, which will unlock new gas for Europe, the operator said. The consortium forwarded the development plan to Norway’s Energy Ministry on Thursday, the majority state-owned energy major said. The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. Oil comprises 75 percent and gas 25 percent, according to Equinor. It expects the project to start production 2029. “We have done a thorough job maturing the new resources discovered in the…

Hanoi: Asia’s dependence on Middle East oil and gas – and its relatively slow shift to clean energy – make it vulnerable to disruptions in shipments through the Strait of Hormuz, a strategic weakness highlighted by the war between Israel and Iran.Iran sits on the strait, which handles about 20 per cent of shipments of the world’s oil and liquefied natural gas, or LNG. Four countries – China, India, Japan and South Korea – account for 75 per cent of those imports. Japan and South Korea face the highest risk, according to analysis by the research group Zero Carbon Analytics,…

The Trump administration’s proposed overhaul of green energy tax credits has jolted the climate tech sector — and investors and founders in the ecosystem are scrambling to make fallback plans.Cleantech stocks tumbled in May after a bill cutting tax credits for clean energy incentives passed through the Republican-controlled House of Representatives.Now, founders and investors are concerned about the knock-on impact this could have on the country’s climate tech ecosystem, which was burgeoning under the Biden-era Inflation Reduction Act, or IRA. They told Business Insider that Trump’s bill has stifled startup growth ambitions, pushing them to scale back, pivot to new…

Crude oil deliveries to the strategic petroleum reserve will be delayed by seven months due to maintenance, the Department of Energy has said.The previous administration had scheduled the addition of 15.8 million barrels into the SPR in the first five months of this year but since January, only 8.8 million barrels have been pumped into the reserve, Reuters noted in a report on the news.“Due to site maintenance, the SPR rescheduled crude oil secured from previous solicitations, as well as exchanges, through December 2025,” a Department of Energy spokesperson told the publication.The Biden administration released some 300 million barrels of…

PESHAWAR, Pakistan (AP) — Flash floods triggered by pre-monsoon rains swept away dozens of tourists in northwest Pakistan on Friday, killing at least eight people. The nationwide death toll from rain-related incidents rose to 18 over the past 24 hours, officials said.Nearly 100 rescuers in various groups rescued a total of 58 people and were searching for the missing tourists who were swept away while picnicking along the Swat River in Khyber Pakhtunkhwa province, said Shah Fahad, a spokesman for the provincial emergency service. He said only 3 people belonging to an extended family of 16 could be rescued and…

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