Author: omc_admin

Sino-Moroccan joint venture COBCO has commenced production of nickel-manganese-cobalt (NMC) and precursor cathode (pCAM) materials for lithium-ion batteries at its new plant in Jorf Lasfar. It strengthens Morocco’s position in the global EV battery supply chain and supports the localisation of key components for electrification. The plant, first announced in 2023, has initially begun production of two critical components used in lithium-ion batteries: nickel-manganese-cobalt precursors and cathode materials. These components form the heart of energy storage systems, both in electric vehicles and stationary applications. According to Reuters, which cites a source close to the project, the site will ultimately reach…

Uber is looking to improve EV charging options for its drivers and couriers, and so has signed an agreement with C40 Cities to expand charging infrastructure in London (UK), Boston and Phoenix (USA). A deal with Vmoto has also been signed. The collaboration with C40 Cities will aim to facilitate EV adoption by up to 55,000 high-mileage Uber drivers across the three cities. Specifically, this will target those Uber drivers who don’t currently have access to convenient charging solutions through what Uber calls ‘technical support, research, and policy advocacy’. In other words; data-gathering on charging ‘deserts’ and usage statistics, plus…

CATL is reportedly considering bringing its battery-swapping technology to Europe. In a recent media interview, CATL executive Jiang Li stated that battery exchange holds “huge potential” in Europe to make batteries cheaper and more durable. The company’s operations in China could serve as a blueprint. Until now, CATL had only confirmed plans to build 1,000 battery-swapping stations in China by the end of this year, and – in cooperation with partners – 10,000 stations within the next three years. But in an interview with the Financial Times, Jiang Li suggested that this business model could be replicated in Europe and…

“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…