Author: omc_admin

South Korea is urging its struggling petrochemicals sector to slash excess capacity and restructure operations amid a global glut that has depressed petrochemicals margins and threatened the industry in many Asian and European countries.China, South Korea, and other Asian petrochemical producers have faced free-falling margins in recent months, with many companies struggling to break even.In Europe, the crisis in the petrochemicals industry has a different root cause – high energy costs – but the result is the same, a struggling industry.South Korea has also suffered from the soaring petrochemicals capacity additions in China, where costs and products are much cheaper.Amid…

First nationwide digital platform to unify the C-PACE ecosystem with over 40 capital providers Streamlines financing for projects under $10 million with closings in as little as 23 days Designed to expand access for middle-market developers and property owners Allectrify has launched FASTPACE.com, a tech-enabled platform designed to simplify and accelerate access to Commercial Property Assessed Clean Energy (C-PACE) financing nationwide. The platform is the first of its kind to bring the entire C-PACE ecosystem under one roof, connecting property owners and developers to more than 40 capital providers. “C-PACE financing has long held transformative potential, but the process has…

By Irina Slav – Aug 20, 2025, 9:44 AM CDT Crude oil inventories in the United States decreased by 6 million barrels during the week ending August 15, after growing by 3 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 420.7 million barrels according to government data, which is 6% 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 contracted by 2.4 million barrels.Crude…

Partnership brings reusable cups to Levi’s Stadium, cutting tens of thousands of single-use cups this NFL season First California rollout for Bold Reuse, marking a key expansion in its national sports partnerships PepsiCo tests reuse initiatives despite dropping its formal packaging reuse target earlier this year PepsiCo, Bold Reuse, and the San Francisco 49ers have teamed up to introduce reusable cups at Levi’s Stadium in Santa Clara, California. The initiative kicked off during a preseason game on August 9 in premium club areas and is expected to eliminate the need for tens of thousands of disposable cups across the 49ers’…

Image: Equinor  Image: Equinor (Bloomberg) – Norway’s monthly oil production jumped to the highest in over a decade last month, following the ramp-up of Equinor’s new Johan Castberg field in the Barents Sea.  The country’s output rose 17% from June to 1.96 million barrels a day, the Norwegian Offshore Directorate said in a statement Wednesday. That was the highest in data going back to 2011.  Norwegian oil and gas producers are spending billions to squeeze output from the country’s mature continental shelf. While exports have dropped from what they were in the early 2000s, July crude loadings from the country…

Coastal Bend LNG LLC and Solvanic Inc. have kick-started a front-end engineering and design (FEED) study for electrochemically mediated amine regeneration (EMAR) carbon capture at the Coastal Bend liquefied natural gas (LNG) facility. Solvanic has signed an option agreement for use of the EMAR technology, originally developed by Professor T. Alan Hatton’s research group at the Massachusetts Institute of Technology (MIT) Department of Chemical Engineering, Coastal Bend LNG said in a media release. The technology utilizes an electrochemical method to release carbon dioxide (CO2) captured by amines using electricity, rather than the traditional high-temperature steam used in thermal amine systems,…

Global oil demand jumped in June by more than 1 million barrels per day (bpd) from May, while production growth has half that figure, leaving inventories at below the five-year averages, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday.Oil demand in 48 JODI-reporting countries surged by 1.23 million bpd month-on-month and by 638,100 bpd year-on-year in June, according to the most recent data by JODI shared by the Riyadh-based International Energy Forum (IEF).The monthly surge in global demand was driven mainly by higher demand in the U.S. (1.28 million bpd higher than in May), as…

CIP secures 250 MW/1,000 MWh Beehive project in Peoria, Arizona, marking a major U.S. storage expansion. Backed by a 20-year contract with Arizona Public Service, ensuring long-term revenue stability. Acquisition underscores CIP’s $27 billion global energy strategy with a sharpened focus on storage. Copenhagen Infrastructure Partners (CIP), through its CI V fund, has acquired the Beehive Battery Energy Storage System (BESS) from EDF Power Solutions North America. The 250-megawatt facility with four-hour duration—equal to 1,000 megawatt-hours—is already under construction in Peoria, Arizona, and is scheduled to begin operations in the first half of 2026. The project is underpinned by a…

Black Hills Corp (NYSE: BKH) and NorthWestern Energy Group Inc (Nasdaq: NWE) have announced in a joint statement that each company’s board of directors has unanimously approved a definitive agreement to combine in an all-stock, tax-free merger. The companies outlined in the statement that the merger “will create a premier regional regulated electric and natural gas utility company with a pro forma market capitalization of approximately $7.8 billion and a combined enterprise value of $15.4 billion, based on each company’s closing stock price as of August 18, 2025”. The joint statement outlined that the deal has a “compelling strategic and…

European regulators strike a pact to coordinate sustainable finance policies and enforcement. Deal aims to improve supervision by integrating environmental data into financial oversight. Collaboration expected to reduce duplication and strengthen EU climate and biodiversity goals. The European Securities and Markets Authority (ESMA) and the European Environment Agency have signed a memorandum of understanding designed to tighten cooperation in the rapidly expanding field of sustainable finance. The agreement focuses on bringing environmental data more directly into the European Union’s sustainable finance framework, including how it is monitored and enforced. Under the terms, the two agencies will share information and technical…