Author: omc_admin

Target has slashed its annual forecasts amid a pullback in discretionary spending due to tariff-driven uncertainty and a backlash against shifts in its diversity, equity and inclusion (DEI) policy. The United States big box retailer, which reported its first-quarter earnings on Wednesday, relies on China for 30 percent of its store label goods. While it is on track to reduce its dependency by another 5 percent by the end of the year, tariff-driven uncertainty has caused a slump. In its forecast, the Minneapolis, Minnesota-based retailer expects a low single-digit decline in annual sales. Wall Street analysts expected a marginal increase…

Indonesian natural gas producers have signed a multi-party gas swap agreement with Indonesian and Singaporean traders aimed at increasing gas supply security in western Indonesia.As gas production in Sumatra in western Indonesia is falling, local companies and regulators looks to redirect domestic gas supply to meet local demand while selling overseas gas from other areas.In a deal signed on Wednesday, Indonesian gas producer Medco Energi Internasional signed a multi-party swap agreement with companies including state energy firm PT Pertamina and Singaporean and Indonesian gas traders Oil Natuna Sea B.V., Star Energy (Kakap) Ltd., Sembcorp Gas Pte Ltd., Gas Supply Pte…

DOF Group ASA has secured four long-term charter and service contract awards with Petrobras in Brazil following a competitive tender process. Skandi Iguaçu, one of the biggest AHTS vessels ever built in Brazil with a 350mt+ bollard pull (BP) and large winch storage capacity has been contracted for four years with expected commencement in February 2026 in sequence with its current contract. Furthermore, Skandi Angra (280mt BP), Skandi Paraty (288mt BP) and Skandi Urca (260mt BP) have all been contracted for four years with expected commencement in January 2026 in sequence with their current contracts. The scope for…

DOF Group ASA has secured four long-term charter and service contract awards with Petrobras in Brazil following a competitive tender process. Skandi Iguaçu, one of the biggest AHTS vessels ever built in Brazil with a 350mt+ bollard pull (BP) and large winch storage capacity has been contracted for four years with expected commencement in February 2026 in sequence with its current contract. Furthermore, Skandi Angra (280mt BP), Skandi Paraty (288mt BP) and Skandi Urca (260mt BP) have all been contracted for four years with expected commencement in January 2026 in sequence with their current contracts. The scope for…

Google’s multibillion-dollar investments in artificial intelligence need to pay off eventually. Ads may be the answer.Google on Wednesday said it’s expanding ads within the search and shopping AI Overviews that appear at the top of results, going from mobile to desktop in the US. AI Overview ads are beginning to roll out in other locations, too.It’s also testing ads within its AI Mode, a relatively new product built into its search page, where users can conduct deeper research using its Gemini AI chatbot, Google said.Dan Taylor, VP of global ads at Google, told Business Insider that queries within AI Mode tend to…

SSE, a major energy company and renewable projects developer in the UK, is reducing spending on renewables in its five-year plan to 2027 by $2 billion (£1.5 billion) “in a changing macro environment,” in yet another blow to Britain’s clean energy ambitions.SSE said on Wednesday that it is reducing its five-year investment expectations by $4 billion (£3 billion) to around $23.4 billion (£17.5 billion). Of the $4 billion reduction in the updated plan, $2 billion is in the renewables business and the other $2 billion is reduced investment in transmission and thermal power.The cut to investments is “reflecting financial discipline…

TotalEnergies SE has committed to buying two million metric tons per annum (MMtpa) of liquefied natural gas (LNG) for 20 years from the pending Ksi Lisims LNG project in British Columbia. Concurrently the French integrated energy company also agreed to acquire a 5 percent stake in Western LNG LLC, one of the partners advancing the project and the future operator. “This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10 percent when the final investment decision is made”, TotalEnergies said in an online statement. With a…

€992M in EU funding awarded to 15 hydrogen projects, targeting 2.2M tonnes of renewable hydrogen and over 15M tonnes of CO₂ reduction over 10 years. Dedicated maritime hydrogen support of €96.7M signals shift toward decarbonizing hard-to-abate sectors like shipping. Up to €836M in additional national funding leveraged through ‘Auctions-as-a-Service’ by Spain, Lithuania, and Austria to back more projects. The European Commission has selected 15 renewable hydrogen production projects across five countries in the European Economic Area (EEA), unlocking €992 million in public funding through the Innovation Fund. This strategic move is aimed at accelerating the production of nearly 2.2 million…

SCARBOROUGH, Maine (AP) — An unusual May nor’easter is set to wallop New England on Thursday, providing a soaking before the Memorial Day holiday weekend with weather more commonly associated with fall and winter.Nor’easters usually arrive in the end of fall and winter and bring high winds, rough seas and precipitation in the form of rain or snow. This week’s nor’easter could bring wind gusts over 40 mph (64 kph) and up to 2 inches (5 centimeters) of rain in some areas. Snow is even possible at high elevations.The storm has New Englanders preparing for a messy couple of days…

Revera launches with 5+ GW of clean energy projects across Australia and the UK, targeting battery storage, solar, wind, and green hydrogen. Backed by Carlyle and major global financiers, including Nomura, CBA, Westpac, Natixis, and EDC. Strategically positioned to support grid resiliency and decarbonization in key energy markets amid strong regulatory and demand tailwinds. Carlyle has launched Revera Energy, an independent energy infrastructure platform focused on sustainable power solutions across Australia and the UK. The move is backed by Carlyle Global Infrastructure, reinforcing the firm’s $7.6B commitment to diversified global energy investments. Revera’s portfolio includes assets carved out from Amp…