Author: omc_admin

As tariffs shift global trade flows, many companies are reevaluating sourcing strategies to offset rising costs. But this pivot can trigger a new set of challenges.  What’s RelatedSuppliers may resort to cost-cutting measures that heighten ESG and regulatory risks in countries facing increased tariff pressure. The incentive to cut corners grows as profit margins shrink, which makes ongoing supplier due diligence more important than ever. These risks aren’t limited to international suppliers. In the U.S., regulatory oversight is weakening due to staffing cuts across key agencies like the Environmental Protection Agency (EPA) and the Department of Labor. As enforcement drops,…

Nigeria’s government is urging the oil companies operating in the country to collaborate to increase oil output in the producer that hasn’t been able to pump to its OPEC quota for years.Nigeria’s crude oil production averaged 1.4 million barrels per day (bpd) in the first quarter of the year, well below the 1.8 million bpd quota in OPEC, Ekperikpe Ekpo, Nigerian Minister of State for Gas, said at a local industry conference.“Production growth…hinges on optimising our existing resources and exploring new frontiers,” Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said at the event.Oil theft and…

London-based cleantech construction technology firm Converge announced that it has raised $22 million in a new investment round, with proceeds aimed at further developing and commercially scaling its AI-based platform for decarbonizing concrete. Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced. Established in 2014, Converge specializes in utilizing AI and proprietary sensor data to optimize concrete usage and production, reducing carbon emissions. The firm’s flagship ConcreteDNA platform…

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 1.3 million barrels from the week ending May 9 to the week ending May 16, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That EIA report was released on May 21 and included data for the week ending May 16. It showed that crude oil stocks, not including the SPR, stood at 443.2 million barrels on May 16, 441.8 million barrels on May 9, and 458.8 million barrels on May 17, 2024. The EIA report highlighted that data may…

FedEx’s largest SAF deal to date: Over 3 million blended gallons of sustainable aviation fuel secured for use at LAX over one year. Strategic emissions reduction: SAF will cover ~20% of FedEx’s annual jet fuel use at LAX, advancing its 2040 carbon-neutral goal. Market signal to SAF industry: FedEx reinforces demand for low-emissions aviation solutions, spotlighting the need for industry-wide scale-up. FedEx has launched its most significant U.S. deployment of sustainable aviation fuel (SAF), securing over three million gallons of blended SAF from Neste for use at Los Angeles International Airport (LAX). The agreement, which spans a one-year period, marks…

Facebook, Instagram, and WhatsApp owner Meta announced that it has signed two long-term Power Purchase Agreements (PPA) to acquire 650 MW of solar energy in Texas and Kansas from energy provider AES to support the social media giant’s data centers. Virginia-based AES is among the largest power providers in the world. Meta will draw power via the PPAs from solar projects that AES is bringing online in the Southwest Power Pool (SPP), which manages the electric grid and wholesale power market in central U.S. states. Andrés Gluski, AES President and Chief Executive Officer, said: “AES is proud to partner with…

Record-Setting Agreement: Microsoft’s 1.24M-tonne biochar carbon removal deal with Exomad Green is the largest of its kind by volume. Strategic Climate Action: The 10-year agreement supports Microsoft’s push to become carbon-negative by 2030 and sets a new bar for durable carbon removals. Scalable Carbon Tech: Exomad Green to expand production and implement forest monitoring, benefiting 250,000+ people in Bolivia. Microsoft has signed a landmark 10-year agreement with Bolivia-based Exomad Green to remove nearly 1.24 million tonnes of CO₂ via biochar—a move that marks the largest biochar carbon removal deal in history, both companies confirmed on May 21. “This agreement helps…

Two names put forward by Elliott Investment Management LP and another two endorsed by Phillips 66 are expected to have won at the refiner’s directorial election during its annual meeting of shareholders on Wednesday. “Based on the preliminary results, the elected Phillips 66 directors are expected to be Robert W. Pease and Nigel Hearne”, Houston, Texas-based Phillips 66 said in an online statement. “The Elliott nominees expected to be elected are Sigmund L. Cornelius and Michael A. Heim. Phillips 66 nominees John E. Lowe and Howard Ungerleider were not elected”. In the build-up to the meeting, West Palm Beach, Florida-based…

Supply chain leaders are trying to look ahead, but many are still putting out fires. What’s RelatedThat’s one of the key takeaways from PwC’s 2025 Digital Trends in Operations Survey. Based on responses from 610 operations and supply chain leaders, the report shows companies are trying to move from short-term fixes to long-term strategy, but it’s not easy. “Operations teams are juggling real challenges—rising costs, new tariffs, and supply chain breakdowns—while also being expected to plan for the future,” the report says. “It’s not just about whether things need to change. It’s about how fast leaders can actually make it…

Regenerative agriculture scaled to 10M acres by 2030, building on 3.5M acres already delivered through 2024. Refined climate and packaging goals aligned to 1.5°C, reflecting new SBTi guidance and a path to net zero by 2050. Water strategy sharpened for high-risk areas, while keeping the 2030 net water positive goal intact. PepsiCo has refined its environmental goals under its PepsiCo Positive (pep+) strategy, expanding regenerative agriculture targets and adjusting climate, water, and packaging commitments to improve impact and business resilience. The company now targets 10 million acres of regenerative agriculture by 2030, nearly tripling its prior footprint. PepsiCo is already…