Author: omc_admin

Egypt is seeking to buy more fuel oil on which to run some of its power plants as natural gas supply is more expensive for the cash-strapped North African country. State-controlled Egyptian General Petroleum Corporation (EGPC) is looking to buy via a tender nearly 2 million tons of fuel oil to be delivered in May and June, a source with direct knowledge of the plans told Bloomberg on Friday.  North African and Middle Eastern countries often turn to oil and direct crude burn for power generation, especially with spiking demand for air conditioning during scorching summer temperatures. Egypt’s domestic natural gas output has…

Pillips 66 has entered into a definitive deal to divest a 65 percent interest in its Germany-Austria retail business to a consortium of investment firms Energy Equation Partners and Stonepeak Partners LP. JET Tankstellen Deutschland GmbH operates 970 sites including 843 that are JET-branded, according to Phillips 66. “Phillips 66 will retain a non-operated 35 percent interest in the business through a newly formed joint venture”, the Houston, Texas-based refiner said in an online statement. “This transaction advances our strategy to optimize our portfolio and enhances long-term shareholder value”, said Phillips 66 chair and chief executive Mark Lashier. “The newly…

€1 billion bond issuance was significantly oversubscribed, reflecting strong investor confidence in Philips’ financial stability and sustainability strategy. Proceeds will support 2026 debt repayment and fund green projects under Philips’ Sustainable Finance Framework. Competitive pricing achieved: 3.281% yield on 2030 notes and 4.050% yield on 2035 notes. Royal Philips has successfully priced a €1 billion dual-tranche bond issuance under its European Medium Term Note (EMTN) program, reinforcing its capital structure while advancing its sustainability agenda. The offering includes €500 million in fixed-rate notes due 2030 and another €500 million due 2035. The notes were heavily oversubscribed—by more than 3 times…

$2.5B investment to deliver 2.8 GW of renewable energy combining solar, wind, and storage in Andhra Pradesh. Boost to India’s 2030 clean energy goals, with 100% Made-in-India components and advanced, waterless solar tech. 1,500 jobs and long-duration energy storage to support peak-hour demand and investor confidence in AP’s energy sector. ReNew Energy Global will invest INR 22,000 crore ($2.5 billion) to develop one of India’s largest hybrid renewable energy (RE) projects in Andhra Pradesh’s Anantapur district. The facility will generate 2.8 GW of power—1.8 GW from solar, 1 GW from wind—and include a 2 GWh battery energy storage system (BESS),…

Welcome to Leadership Lessons — real stories from supply chain leaders on how they built their careers, what they’ve learned along the way, and where they’re headed next. In this edition, we talk with Dean Bain, Senior Vice President of Supply Chain at Coupa Software. He shares how his love of engineering and experience owning a company at age 20 shaped his leadership style and led him into supply chain software. What’s RelatedSupply Chain 24/7: Tell me a little bit about your upbringing — where you’re from and how you got your start?  Dean Bain: My family is originally from Scotland,…

$50M XPRIZE Win Validates Technology: Mati Carbon’s enhanced rock weathering (ERW) approach wins the XPRIZE Carbon Removal grand prize, beating out 1,300 global competitors. Blended Finance from J.P. Morgan Fuels Global Expansion: Backed by the Schmidt Family Foundation, the new facility enables Mati to scale ERW across India and Sub-Saharan Africa. High-Integrity CDR with Local Economic Benefits: Mati’s model boosts smallholder farmer income by up to 20% while delivering scalable, scientifically verified CO₂ removal. J.P. Morgan has committed blended finance to support Mati Carbon’s global expansion, enabling the carbon removal startup to scale its enhanced rock weathering (ERW) technology across…

In an EBW Analytics Group report sent to Rigzone by the EBW team today, Eli Rubin, an energy analyst at the company, outlined that natural gas “retreat[ed]…amid repeated substantial injections”. “Yesterday’s EIA (U.S. Energy Information Administration)-reported 110 billion cubic foot injection (3.9 billion cubic feet per day looser than five-year norms and the third consecutive triple-digit injection in only the first full week of May) is deflating initial enthusiasm following the huge post-tariff April deleveraging sell-off,” Rubin stated in the report. “In our view, the bullish impulses of the gas market may prove correct – but are just early,” he added.…

Supply chain traceability solutions provider TrusTrace announced a major upgrade to its platform, utilizing AI data to enable companies to collect, centralize and analyze supply chain and traceability data. Founded in 2016, Stockholm, Sweden-based TrusTrace offers a platform for supply chain traceability and compliance, enabling brands and suppliers to standardize how supply chain and material traceability data is captured, digitized, and shared, with a focus on sectors including fashion, footwear and textiles. According to TrusTrace, the new upgraded platform uses AI technology, enabling users to unify fragmented data from suppliers, brands and third parties, to increase data reliability and insight…

90% of importers exempted: A new 50-tonne threshold will relieve administrative burdens for small and occasional importers. Environmental integrity upheld: Despite exemptions, 99% of CO₂ emissions from covered goods will remain within CBAM scope. Streamlined compliance: Revised rules simplify authorisation, emissions calculation, and financial liability management. The European Parliament’s Environment Committee has endorsed key changes to the EU’s Carbon Border Adjustment Mechanism (CBAM)—a carbon pricing tool targeting high-emission imports like steel and cement. The move aims to cut red tape for small and medium-sized enterprises (SMEs) while maintaining the system’s environmental rigor. Under the revised proposal, a new de minimis…

Mike Novogratz’s crypto firm Galaxy Digital started trading on the Nasdaq on Friday under the ticker GLXY. The stock opened at $23.50 per share on the U.S. exchange.Galaxy Digital, which has been traded on the Toronto Stock Exchange since 2020, shifted its shares to the Nasdaq through a direct listing — a move that follows a grueling, multiyear battle with U.S. regulators.Novogratz told CNBC’s “Squawk Box” on Friday that Galaxy’s value now hinges on two high-growth areas: crypto and artificial intelligence.”These are the two most exciting growth areas in markets, right. AI and the infrastructure needed for AI to exist…