Author: omc_admin

Spanish energy major Repsol is committed to keeping its previously announced shareholder remuneration policy for this year despite the volatile market, trade tensions, and OPEC+ plans to raise production.Repsol reported on Wednesday an adjusted income of $740 million (651 million euros) for the first quarter, a plunge of 48.6% compared to the same quarter of 2024. Still, the figure was slightly higher than the company-provided analyst consensus estimate of $730 million (642 million euros).These numbers were in line with the annual guidance, Repsol said, noting they were achieved “in a global context marked by uncertainty and geopolitical and commercial tensions,…

A One Nation candidate who could hand the Nationals the seat of Hunter, thanks to a handshake preference deal, has called public health officials “little Hitlers” and promoted a conspiracy theory alleging the government has used the climate crisis to control every aspect of people’s lives.Stuart Bonds told a livestreamed forum with rightwing activists last week that the federal government should not do anything to address climate change. He also claimed “a crime” was committed against Australians during the Covid pandemic, alleging they were used “as an experiment to sell pharmaceutical projects”.The comments were made after the Coalition and One…

Chemical recycling startup DePoly has raised $23 million with proceeds to be used to support the scaling of its technology to tackle hard-to-recycle plastics. Founded in 2020 by co-founders CEO Samantha Anderson, CTO Bardiya Valizadeh, and CSO Christopher Ireland, DePoly offers a solution to break down plastic and textile waste for use as building blocks for new, high-quality PET and polyester. The company’s chemical recycling process converts post-consumer and post-industrial plastic waste streams into their main raw components, helping to solve challenges that can prevent plastic from being recycled, such as the high cost and difficulty involved in sorting, separating,…

The White House on Tuesday accused Amazon of committing a “hostile and political act” by planning to list extra tariff costs on its website. Amazon has disputed the allegation, saying it is not planning to display any added trade charges. At a news conference marking President Donald Trump’s first 100 days in office, White House Press Secretary Karoline Leavitt lashed out at Amazon over news reports that suggested the company was considering displaying the added cost of tariff duties on its online platform. “Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40…

By Julianne Geiger – Apr 30, 2025, 9:38 AM CDT Crude oil inventories in the United States saw a decrease of 2.7 million barrels during the week ending April 25, according to new data from the U.S. Energy Information Administration released on Wednesday.Crude oil prices were trading down prior to the crude data release by the U.S. Energy Information Administration. On Tuesday, the American Petroleum Institute (API) reported a sizeable build in US crude oil inventories of 3.76 million barrels in U.S. crude oil inventories with draws in gasoline and distillate stocks.At 10:29 am in New York, the Brent benchmark…

Natural gas production from the massive discovery in the Black Sea offshore Romania is expected to begin in 2027, Austria’s energy giant OMV said on Wednesday, adding that the project, Neptun Deep, is advancing as scheduled.Drilling for the first of ten wells began in March this year and is anticipated to take two to three months, OMV said in its first-quarter results release.Initial gas production at Neptun Deep is planned for 2027.The development concept of Neptun Deep includes ten production wells – four in the Pelican South field and six in the Domino field.Upon reaching peak production, Neptun Deep is…

New York-based alternative investment firm Stonepeak announced that it acquired a 46.3% stake in a U.S. solar and storage portfolio from Spanish energy company Respol for $340 million. The portfolio include 777 MW of operating solar and storage facilities in New Mexico and Texas, and the transaction values the portfolio at approximately $795 million, including $60 million in previously raised tax equity. Anthony Borreca, Senior Managing Director at Stonepeak, said, “This investment represents another important step in delivering much-needed cost effective and sustainable electricity to our domestic power grid at a time when communities need it most. Repsol is an…

Urban climate finance must scale to $4.5T annually by 2030 — MDBs signal deeper support via concessional funds, subnational lending, and risk mitigation tools. Cities demand direct funding and strategic integration — Mayors call for urban climate priorities in MDBs’ strategies and stronger collaboration across governance levels. Public investment remains short — Current urban climate finance covers just 23% of the $800B annual target, exposing an urgent gap for MDBs and private capital to fill. Multilateral Development Banks (MDBs) are advancing efforts to scale up urban climate finance, signaling increased commitment to cities on the frontlines of the climate crisis.…

(Bloomberg) – Oil rose as the potential for the U.S. to curtail Iranian flows added to a rebound driven by broader markets. West Texas Intermediate advanced about 2% to settle near $64 a barrel, recouping most of the previous day’s losses, which were driven by U.S. President Donald Trump’s public rebuke of the Federal Reserve.  Also supporting prices, Trump said he and Israeli Prime Minister Benjamin Netanyahu spoke on Tuesday and are aligned on trade and their approach to Iran. That came after the US announced sanctions against Iranian national and liquefied petroleum gas magnate Seyed Asadoollah Emamjomeh and his corporate…

BW Energy has made its final investment decision (FID) for the Golfinho Boost project, aiming to increase uptime, reduce operating expenses and add approximately 3,000 barrels per day of incremental oil production from 2027 at the Golfinho field offshore Brazil.   The project includes multiple measures aimed at boosting production efficiency and increasing recoverable reserves by approximately 12 million barrels. The measures include upgrades to the subsea boosting system by replacing gas lift with Electrical Submersible Pumps (ESPs) at the seabed, reopening of shut-in wells, umbilicals replacement, improved field logistics and FPSO capacity enhancements. The total investment budget is USD 107…