Author: omc_admin
The rise of artificial intelligence (AI) and other technologies has driven the “surging” growth of data centres in China, with associated increases in energy demand and emissions. There were 449 data centres in China at the end of 2023, the most in the Asia-Pacific region. The International Energy Agency (IEA) says in a new report that China accounted for 25% of global data-centre electricity consumption in 2024, the second largest consumer following the US. In common with other countries, China expects the electricity consumption of its data centres to grow rapidly over the next few years, partly as a result…
At a lunch with TotalEnergies boss Patrick Pouyanné in 2019, drillers worried about the future asked what their roles would look like a decade down the line. For the chief executive it was “obvious”, they would still be drilling for oil.TotalEnergies pushed further into renewables in 2021 as it and the rest of the industry responded to pressure to embrace the green transition. But Pouyanné also made the crucial decision to raise oil and gas output, using profits from its legacy business to fund the pivot into greener products.Four years later, that gamble appears to be paying off. While rivals…
LONDON (AP) — Inflation in the United Kingdom fell for the second month running in March largely as a result of lower prices at the pump, official figures showed Wednesday, a move that is likely to pile pressure on the Bank of England to cut interest rates next month.The Office for National Statistics said consumer prices rose by 2.6% in the year to March, down from 2.8% the previous month. The decline was bigger than anticipated, with most economists predicting a more modest decline to 2.7%.However, inflation remains above the Bank of England’s target of 2% and is set to…
WASHINGTON— The Department of Energy (DOE) today released the following statement from DOE Spokesperson Andrea Woods on the U.S. Energy Information Administration (EIA) Annual Energy Outlook 2025: “Today’s report from EIA reflects the disastrous path for American energy production under the Biden administration – a path that was soundly rejected by the American people last November. Under President Trump’s leadership, the Department of Energy is charting a new way forward for America’s energy future that promotes greater consumer choice, ensures the U.S. has the power to lead the world in AI development and expands economic growth fueled by American energy dominance. By unleashing energy that…
There have been works branding the second Trump administration as “Trump 2.0” before and after the U.S. presidential election in 2024. It may seem like a minor issue, but I am obliged to challenge the term. This is because language shapes and reshapes our thinking constantly. Against “Trump 2.0” First, according to the Merriam-Webster Dictionary, the term “2.0” is used “to describe a new and improved version or example of something or someone.” If this is the case, the word “Trump 2.0” implies a positively developed second Trump presidency. But I am not sure if I can call his second…
Airbus Ventures announces its investment in Fourier – emerging from stealth with its pioneering on-site, on-demand, hydrogen production systems – as part of the company’s $18.5m in Series A funding. With this latest funding, the company will begin scaling manufacturing, accelerating commercial deployments, and expanding its engineering efforts to integrate its systems into critical energy infrastructure. “We’re just getting started. With this new capital, we’re scaling fast, pushing boundaries, and building a more energy-resilient world – where hydrogen plays a defining role,” remarks Siva Yellamraju, Fourier CEO. “We’re already seeing tremendous customer demand, with early pilots yielding exceptional results across…
Brent crude has slipped below $65 per barrel. WTI is trading barely above $60. Neither Trump nor China are backing down from the trade war that started the rout. OPEC+ has not yet updated its production plans, which contributed to the rout. Yet it is pretty much business as usual in the U.S. oil patch, per Energy Secretary Chris Wright.Speaking to Bloomberg recently, Wright said that the stock market selloff had been overblown, with fears about the global economy “misplaced”. “You see a marketplace right now that is worried about economic growth,” Wright told Bloomberg Television last week. “I think…
RIYADH, SAUDI ARABIA — U.S. Secretary of Energy Chris Wright delivered remarks at a press conference in Riyadh on Sunday and announced the United States and the Kingdom of Saudi Arabia agreed to sign a Memorandum of Understanding (MOU) at a later date to advance cooperation across key areas of energy. The non-binding agreement outlines a framework for collaboration in both traditional and emerging energy sectors, reinforcing shared strategic priorities without financial or legal commitments.Secretary Wright’s full remarks from the press conference are below: I want to start by thanking my fabulous hosts, the Energy Minister Prince Abdulaziz bin Salman and…
Global oil demand is expected to grow by just 730,000 barrels per day (bpd) this year amid escalating trade tensions, the International Energy Agency (IEA) said on Tuesday, slashing the previous month’s growth forecast by 300,000 bpd.Escalating trade tensions have negatively impacted the economic outlook, the IEA said today in its Oil Market Report (OMR) for April, and sees further slowdown in demand growth next year, when consumption is now forecast to increase by only 690,000 bpd.Risks to the forecast “remain rife given the fast-moving macro backdrop,” the IEA noted.The downgrade to demand growth expectations comes just as the agency…
In its 2024 annual report, Viva Energy confirmed it will complete the project at a final cost of $350 million (Aus.), $200 million of which is dedicated to Australian procurement and construction contracts mostly awarded to businesses in the Geelong region.The budget increase follows the federal government’s December 2023 announcement that fuel quality and noxious vehicle emissions standards would come into effect from December 2025 to ensure Australia’s fuel quality aligns more closely with international standards.In compliance with the regulatory timeline, Viva Energy confirmed expanding the ULSG project to certify that—in addition to all of Geelong’s ULSG conforms to 10…