Author: omc_admin
Eni SpA has signed an agreement with Côte d’Ivoire’s Agriculture Ministry to explore the potential of cultivating biofuel crops in the West African country. The memorandum of understanding “aims to enhance the rubber (hevea) supply chain and to assess the introduction of oilseed crops on marginal and degraded lands, thereby contributing to the country’s sustainable agricultural development without competing with food production and forest ecosystem”, the Italian state-backed energy major said in an online statement. Eni said an existing project in collaboration with the Ivorian Federation of Rubber Producers is already “enabling the valorization of rubber residues – a crop widely…
Crude oil prices are set for another weekly decline following news that OPEC+ was planning to boost production by another 411,000 barrels daily in July. Meanwhile, a court ruling that blocked Trump’s tariffs has been paused after the White House appealed the decision.At the time of writing, Brent crude was trading at $63.84 per barrel, with West Texas Intermediate at $60.67 per barrel, both slightly down on Thursday but higher than the start of the week.Earlier this week, a trade court ruled that President Trump had exceeded his authority in imposing sweeping tariffs on all U.S. trade partners, noting the…
OMV AG has made a final investment decision to proceed with the construction of an electrolysis facility in Bruck an der Leitha, Lower Austria. The 140-MW electrolyzer – a facility that splits water molecules into hydrogen and oxygen through electricity – is planned to produce up to 23,000 metric tons a year of green hydrogen. Expected to start production 2027, the project will use wind, solar and hydro power. It would be the biggest European electrolytic facility to produce renewable hydrogen, OMV said. Hydrogen produced through electrolysis that runs on renewable power is called green or renewable. On June 30 OMV announced…
OKEA ASA and its partners in production license 055 have made a discovery that is estimated to hold 300,000 to 2.8 million barrels of recoverable oil equivalent along the eastern flank of the already producing Brage field on Norway’s side of the North Sea. The discovery was made in the southern part of the Prince prospect in wildcat well 31/4-A-23 G. Well 31/4-A-23 F, in the northern part of the Prince prospect, turned up dry. “The licensees will now assess the deposit as part of the further development of the Brage field”, the Norwegian Offshore Directorate said in an online statement.…
(Oil & Gas 360) – Donald Trump made a trip to the Middle East, and clearly, he is reorganizing the world. He strengthened US relations with Saudi Arabia and made commercial agreements with Qatar and the United Arab Emirates. Agreements with Saudi Arabia involved large arms purchases and financial commitments by the US and Saudi Arabia with each other, and large commitments to the development of AI research and development in both countries. Trump gave a speech which emphatically made the point that US policy is focused on establishing and maintaining peace if possible. Another clear point from this trip…
Eni S.p.A.’s renewables arm, Plenitude, has signed an agreement with Marelli Holdings to build three photovoltaic plants and an Energy Community. Eni said in a media release that the facilities will be located at Marelli’s production sites in Melfi (Potenza), Sulmona (L’Aquila), and Turin, with a total capacity of 5.4 megawatts-peak (MWp). The projects will be carried out under an EPC (Energy Performance Contract) model, allowing Marelli to obtain renewable energy at a fixed cost without any initial investment, Eni said. At the Melfi site, Plenitude has designed an Energy Community for Marelli under the Individual Remote Self-Consumption (AID) configuration.…
Tokyo and Beijing are closing in on a deal to allow Japanese seafood exports to resume following 2023 ban.China and Japan are closing in on a deal that would see the return of Japanese seafood imports to the Chinese market following a nearly two-year trade ban. Tokyo said on Friday that the two sides are finalising details following a successful meeting in Beijing this week. Japan’s Chief Cabinet Secretary Yoshimasa Hayashi told reporters that officials had “reached an agreement on the technical requirements necessary to resume exports of fishery products to China”. “Exports to China will resume as soon as…
Egypt is considering adding yet another LNG import vessel, according to people familiar with the plan, as the nation that was exporting gas just a year ago is now rushing to lock in supplies to cover domestic demand. A new vessel would add to the Energos Power ship that arrived in the North African country’s Alexandria port earlier this week and the Hoegh Galleon operating in Ain Sokhna. Two others – Energos Eskimo arriving this summer and another from Turkish company Botas – have also been tied up. Egypt’s oil ministry didn’t immediately reply to a request for comment on the additional…
(Bloomberg) — Exxon Mobil Corp. said it will be “business as usual” in its massive Guyana oil field if it loses its arbitration case against Chevron Corp. and Hess Corp. Image: Hess Exxon remains confident it will prevail in the case over the field’s ownership at the International Chamber of Commerce, Neil Chapman, Exxon’s senior vice president, said at the Bernstein Strategic Decisions Conference in New York on Thursday. But there will be “no change for us” if Exxon loses, he said. The ICC hearing ended this week and the panel of three judges is now considering its…
The carbon footprint of the first 15 months of Israel’s war on Gaza will be greater than the annual planet-warming emissions of a hundred individual countries, exacerbating the global climate emergency on top of the huge civilian death toll, new research reveals.A study shared exclusively with the Guardian found the long-term climate cost of destroying, clearing and rebuilding Gaza could top 31m tonnes of carbon dioxide equivalent (tCO2e). This is more than the combined 2023 annual greenhouse gases emitted by Costa Rica and Estonia, yet there is no obligation for states to report military emissions to the UN climate body.Israel’s…