Author: omc_admin

Global investment manager Nuveen announced the appointment of former RWE senior executive Costas Papamantellos as Head of Energy Transition Investments, as part of the firm’s Clean Energy Infrastructure team. The new appointment follows the announced launch by Nuveen earlier this month of its new dedicated Global Infrastructure Investment Platform, combining several of its infrastructure-focused teams, including its Clean Energy Infrastructure, Diversified Infrastructure, and Digital Infrastructure equity teams, as well as its private credit-focused Nuveen Energy Infrastructure Credit, and its sustainable commercial real estate financing solutions business Nuveen Green Capital. Papamantellos joins Nuveen after more than 17 years at German power…

Cenovus Energy is raising its takeover bid for MEG Energy in the best and final offer to buy the company that has seen rival bids from Cenovus and Strathcona Resources in recent months. Cenovus announced on Wednesday a sweetened offer for MEG Energy shareholders, which values the target company at US$6.16 billion (C$8.6 billion) including debt.  The fully pro-rated consideration for MEG represents a value of approximately US$21.37 (C$29.80) per MEG share at Cenovus’s closing share price on October 7, 2025, an increase of approximately US$0.95 (C$1.32) per share compared to the terms of the original arrangement agreement.MEG Energy has agreed to…

As Hollywood wrestles with how to reconcile AI and the creative process, new research offers a look at how some in the industry are actually using the tech.The findings, published October 8, come from the Mozilla Foundation and think-tank the Berggruen Institute. They offer a rare snapshot, albeit based on a limited sample size, of how people in Hollywood are using AI.The research came out of discussions with 174 people working in creative fields over three months in early 2025. The largest group (43%) consisted of TV and film producers, directors, and similar professionals. Others represented music, marketing, and technology…

(Investing.com)–  signed an agreement with Iraq on Wednesday to help it develop its large Majnoon oilfield and expand its oil export infrastructure, marking a return to the country two years after leaving. OPEC’s second largest producer is looking to draw back Western oil majors and increase output constrained by years of war, corruption and sectarian tensions. Iraqi Prime Minister Mohammed Shia al-Sudani announced that a deal was signed with Exxon but included few details. It will involve a profit-sharing agreement covering crude oil and refined products and plans to upgrade Iraqi oil export infrastructure in the south, according to four sources…

  British Prime Minister Keir Starmer flew into India on Wednesday – with more than 100 leaders from the business, culture and university sectors – to urge implementation of a bilateral trade deal as soon as “humanly possible.” Britain and India signed a free-trade agreement in July during a visit by Indian Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and cars, and allow more market access for businesses. Talks on the trade pact were concluded in May after three years of stop-start negotiations, with both sides hastening efforts to clinch a deal in the shadow of…

Snacking, food, and pet care products provider Mars announced new agreements with renewable energy developer GoldenPeaks Capital to launch more than 100 new solar projects in Poland to supply renewable electricity to Mars and to agriculture company Cargill, one of Mars’ largest suppliers. The new agreement forms Mars’ first European contract under its Renewable Acceleration program, aimed at accelerating the shift from fossil fuels to clean energy across the company’s operations and its global value chain.  Mars announced the launch of the program last month, with Enel North America as its first energy partner. Under the new agreement, believed to…

By Julianne Geiger – Oct 08, 2025, 9:39 AM CDT Crude oil inventories in the United States increased by 3.7 million barrels during the week ending October 3, after gaining 1.8 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 420.3 million barrels according to government data, which is still 4% below the five-year average for this time of year.The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories grew by 2.780 million barrels.Crude…

SLB and SBM Offshore announced, in a recent joint statement, an agreement “to enter into an exclusive digital alliance to optimize the performance of offshore production systems”. The companies noted in the statement that the alliance “brings together SLB’s digital and domain expertise in subsurface, subsea, surface production and recovery with SBM Offshore’s digital and full FPSO lifecycle capabilities”. SLB and SBM added in the statement that they “will leverage their respective digital capabilities to create an AI-powered digital ecosystem that enhances FPSO digital asset management – improving uptime performance and reducing total cost of ownership for offshore operators”. The…

If you’re a utility customer in the US, you’ve likely seen your rates go up this year.Residents in at least 41 states and Washington, D.C., are experiencing increased electric and natural gas bills now or will see increases in 2026, according to a new report from the Center for American Progress.Costs are rising largely due to the AI data center development boom and the resulting strain it has placed on the country’s aging electric grid.The good news is that, depending on which state you live in and your electricity provider, you might be able to lower your bill through energy…

Russia has raised its oil production close to the ceiling in the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak said on Wednesday. “Production is growing… Just as we are unable to decrease it quickly, we are increasing it steadily. We will fulfil our quota,” Russian news agency Interfax quoted Novak as saying. Russia’s oil production in August was about 90,000 barrels per day (bpd) below its OPEC+ quota.  Russia’s oil production averaged 9.173 million bpd in August, compared to the 9.259 million bpd ceiling in the OPEC+ deal, which also takes into account Moscow’s compensation for previous overproduction.For September, Russia is allowed…