Author: omc_admin

90% of importers exempted: Small-scale importers (under 50 metric tons/year) will avoid CBAM bureaucracy. High-impact emissions still targeted: The exempted 90% account for less than 1% of emissions—meaning climate goals stay intact. Permit sales delayed to 2027: Companies gain an extra year to prepare for purchasing CO₂ import permits. The European Parliament has endorsed a major revision to the EU’s Carbon Border Adjustment Mechanism (CBAM), exempting companies importing less than 50 metric tons of covered goods annually from the tariff. This move aims to simplify compliance for small businesses while keeping the policy’s climate impact intact. “More than 90% of…

44 oil and gas firms must deliver 50Mt/year CO₂ storage by 2030, proportional to past production levels. Storage sites will be designated Net-Zero Strategic Projects, enabling access to faster permitting and funding. Entities can meet obligations through partnerships, solo investments, or third-party collaborations. The European Commission has formally designated 44 oil and gas companies to develop CO₂ storage capacity across Europe, aligning with the EU’s Net-Zero Industry Act and Industrial Carbon Management Strategy. By 2030, these companies must provide 50 million tonnes of annual CO₂ injection capacity into geological storage sites — a cornerstone initiative aimed at decarbonizing Europe’s most…

Cooling towers are seen at the nuclear-powered Vogtle Electric Generating Plant in Waynesboro, Georgia, U.S. Aug. 13, 2024. Megan Varner | ReutersNuclear power stocks surged Friday on a report that President Donald Trump will sign executive orders to speed the construction of reactors and secure key materials for the industry.Advanced reactor companies Oklo and NuScale jumped about 8% premarket. Constellation Energy, the largest nuclear operator in the U.S., was up 2%. Cameco Corp., one of the biggest uranium miners in the world, rose more than 4%.Trump could sign the orders as early as Friday, sources familiar with the matter told Reuters.…

Apple is doubling down on India as a major hub for making iPhones. Foxconn, the company that builds most of Apple’s phones, just announced a $1.5 billion investment in a new plant near Chennai. The new facility will make display modules—key parts that go under the iPhone’s screen and handle touch, brightness, and color. What’s RelatedThis is Apple’s latest move to shift some of its manufacturing out of China, where most of its devices are still made. However, the shift is drawing criticism from U.S. President Donald Trump, who wants Apple to bring jobs back home. “We are not interested…

Apple dipped premarket on Friday after President Donald Trump said iPhones manufactured outside the US would face a tariff of at least 25%.”I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote in a Truth Social post on Friday.He warned that if Apple failed to comply, it would have to pay the US a tariff of “at least” 25%.Apple stock was down 3.6% just before 8:30 a.m. ET.S&P futures fell…

In a statement posted on the American Petroleum Institute (API) website on Thursday, API President and CEO Mike Sommers applauded the House of Representatives for passing the One Big Beautiful Bill Act “to help restore American energy dominance”. “By preserving competitive tax policies, beginning to reverse the ‘methane fee,’ opening lease sales and advancing important progress on permitting, this historic legislation is a win for our nation’s energy future,” Sommers added. “We look forward to working with the Senate to strengthen pro-investment provisions and keep America at the forefront of energy innovation,” he continued. In a statement sent to Rigzone…

Climate change could make the UK vulnerable to insect-transmitted tropical diseases that were previously only found in hot countries, scientists have warned, urging ministers to redouble efforts to contain their spread abroad.Leading mosquito experts said the government’s cuts to international aid would lead to a collapse in crucial surveillance, control and treatment programmes in endemic countries, leading to more deaths.This week, the UK Health Security Agency announced the discovery of West Nile virus in UK mosquitoes for the first time. The agency said it had found no evidence of transmission to humans and the risk to the British public was…

Oil prices held near two-week highs in early trading on Wednesday, supported by an agreement between the U.S. and China to temporarily lower their reciprocal tariffs and a falling U.S. dollar.Imaginima | E+ | Getty ImagesA protracted slump in crude prices has ramped up the pressure on Big Oil’s commitment to allocate cash to shareholders.Western energy supermajors have long sought to return cash to investors through buyback programs and dividends to keep their shareholders happy. Energy executives have also expressed confidence that they can continue to reward investors following a relatively robust set of first-quarter earnings.Some analysts, however, are less…

The CEO of one of the internet’s biggest gatekeepers has warned that content creators are at risk of losing out on subscription and advertising money as people increasingly turn to AI for search purposes.Matthew Prince, the billionaire cofounder and CEO of cybersecurity giant Cloudflare, told CNBC on Wednesday that creators need to push back as more of their value is captured directly by AI searches.”I think that the economy is for sure changing,” Prince said.”What’s changing is not that fewer people are searching the internet,” he continued. “It’s that more and more of the answers to Google are being answered…

Can the $59.51 Pivot Hold in the Face of Bearish Pressure? A bounce from $59.51 could form a secondary higher bottom, giving bulls a potential setup to retest the 50-day average. However, if this support fails, technical selling could intensify, targeting a deeper support zone between $54.83 and $54.01. The price action suggests traders are hesitating as they weigh technical signals against bearish fundamental drivers. OPEC+ Output Hike Looms Large Over Oil Prices Forecast This week’s losses, with both Brent and WTI down roughly 2%, are largely tied to growing expectations that OPEC+ will raise output again in July. Market…