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Trio Petroleum Corp said it has suspended operations at McCool Ranch in California and will terminate its efforts to acquire a working interest in the project. Natural gas prices and water disposal costs in the state under its previously negotiated terms make it “cost prohibitive for the company to employ cyclic-steam operations to increase production and will not be economically feasible in the long run,” Trio said in a news release. The company said it has decided to “focus its efforts on other sites which it believes will be more economically feasible”. Acquisition of Saskatchewan Assets from Novacor Meanwhile, Trio…

In a statement posted on its website recently, the U.S. Department of Commerce’s National Oceanic and Atmospheric Administration (NOAA) said forecasters within its National Weather Service predict above-normal hurricane activity in the Atlantic basin this year. The organization noted in the statement that its outlook for the 2025 Atlantic hurricane season predicts a 30 percent chance of a near-normal season, a 60 percent chance of an above-normal season, and a 10 percent chance of a below-normal season. The Atlantic hurricane season runs from June 1 to November 30, NOAA highlighted in its statement. NOAA said in the statement that the…

This year’s summer months promise to be among the hottest on record across the United States, continuing a worsening trend of extreme weather, and amid concern over the impacts of Trump administration cuts to key agencies.The extreme heat could be widespread and unrelenting: only far northern Alaska may escape unusually warm temperatures from June through August, according to the latest seasonal forecast from the National Oceanic and Atmospheric Administration (Noaa).Indeed, summer-like weather has already begun for many parts of the country.In International Falls, Minnesota – the self-proclaimed “icebox of the nation” – temperatures in the 90s arrived in early May,…

Indian authorities and coast guard were mobilized on Monday to contain an oil spill after a cargo ship sank off India’s West coast this weekend, leaking marine fuel and fuel from containers. Liberia-flagged container vessel MSC ELSA 3 sent a distress signal to authorities on Saturday, May 24, the Indian Coast Guard said. The vessel departed from the port of Vizhinjam Port on May 23, bound for Kochi with ETA on May 24. However, following the distress signal, the vessel capsized and sank in the early hours of May 25, reportedly due to flooding in one of the holds, the coast…

Taiwan will hold in August a referendum on whether the just-shuttered last nuclear reactor should be restarted once safety checks are completed, in a major reversal of the country’s policy amid energy security concerns. Taiwan, which is being threatened by China with Beijing claiming it is a “sacred and inseparable part of China’s territory”, has decided to phase out its nuclear reactors by this year. Taiwan’s Democratic Progressive Party elected in January 2016, and re-elected in 2020, has a policy of phasing out nuclear power by the end of 2025.   Taiwan shut its last nuclear reactor, Maanshan, earlier this month. Since 2018, Taiwan has shut…

In a release sent to Rigzone recently by the company’s Chief Transformation Officer Toni Fadnes, eDrilling announced that it has changed its name to Pions “to reflect the company’s broader vision, evolving technology, and growing ambitions”. Pions CEO Caroline Vorpenes said in the release, “we’ve been on a journey of reinvention and I’m so excited we finally get to share it with the world”.  “From traditional tools to AI-powered engineers, from legacy software to engineering, reimagined. A new name that reflects both where we’ve been and where we’re going,” Vorpenes added. Jie Cao, Pions’ Chief Technology Officer, said in the…

Meta’s open-source Llama models helped define the company’s AI strategy. Yet the researchers who built the original version have mostly moved on.Of the 14 authors credited on the landmark 2023 paper that introduced Llama to the world, just three still work at Meta: research scientist Hugo Touvron, research engineer Xavier Martinet, and technical program leader Faisal Azhar. The rest have left the company, many of them to join or found its emerging rivals.Meta’s brain drain is most visible at Mistral, the Paris-based startup co-founded by former Meta researchers Guillaume Lample and Timothée Lacroix, two of Llama’s key architects. Alongside several…

2025-05-26T09:00:01Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Legaltech startups are thriving, raising over $1 billion in funding this year. These companies leverage AI to streamline legal work, attracting significant investor interest. Despite a slowing funding market, AI-driven legaltech firms continue to secure investments. Law is having its ChatGPT moment.In recent years, a torrent of startups has emerged that use…

The Nationals leader, David Littleproud, says his party’s support for a policy of net zero emissions by 2050 is up for review, contradicting his deputy and raising doubts about the looming cooperation agreement with the Liberals.After days of turmoil within the Coalition, Littleproud told Sky News he was relaxed about speculation his leadership could come under challenge from former leader Michael McCormack, denying there was division within the Nationals.“We’ve got a party room position on this but obviously during this period of parliament, like in the last period, we’ll continue to review some of those policies, including net zero,” Littleproud…

Saudi Aramco is reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters.The sources told the publication that the Saudi state major had asked investment banks to come up with ideas on how best to make its assets generate some cash. Another two sources told Reuters the asset sales could help Aramco in its efforts to boost the efficiency of its operations and reduce costs.Aramco on Tuesday reported a drop in 2024 profits and guided for a 30% lower total dividend…