Author: omc_admin

ABS issued an approval in principle to SBM Offshore for its concept of a near zero floating production storage and offloading (FPSO) unit. The NearZero FPSO design incorporates low carbon technologies that collectively create a “near zero” Scope 3 carbon emissions profile, achieving up to 80 percent reduction in GHG emissions. The introduction of the NearZero FPSO is an important step in SBM’s strategic path to achieve net-zero emissions by 2050. ABS completed design reviews based on class and statutory requirements. Low carbon technologies featured in the FPSO concept at a systems level include all electric topsides, closed…

Kazakhstan doesn’t have any plans to cut its crude and condensate production in May, its energy ministry said on Thursday, as the OPEC+ producer continues to give the group headaches with continuously busting its quota in the deal.Kazakhstan, one of the biggest overproducers under the agreement alongside OPEC’s second-largest producer, Iraq, plans to keep its crude oil and condensate production levels in May the same as in April and slightly higher than in March, Kazakhstan’s energy ministry told Bloomberg via email.The second OPEC+ output hike in as many months signaled that Saudi Arabia will not tolerate any longer OPEC+ producers…

United States President Donald Trump announced the framework of a trade deal between the US and the United Kingdom, which re-sets US tariffs on most UK goods at 10 percent, on Thursday. “For so many years, everybody talked and talked about a deal,” Trump said in a display of warmth towards his British counterpart. “It’s now been done with us.” He added that there was an “external and internal bond” between the two countries. It had been “an honour” doing business with the UK, he said. Prime Minister Keir Starmer, who called in to the White House from the UK…

At the 2025 Gartner Supply Chain Symposium in Orlando, Gartner Vice President Analyst Tom Enright delivered a clear message to supply chain leaders: the success of digital transformation initiatives will depend less on the technology itself and more on the people expected to use it. What’s RelatedAccording to Gartner, 60% of supply chain digital adoption efforts will fail to deliver their promised value by 2028 due to insufficient investment in learning and development (L&D). Enright called on Chief Supply Chain Officers (CSCOs) to take a more active role in ensuring that teams are trained, equipped, and supported to realize the…

New Delhi: State-owned Oil & Natural Gas Corporation (ONGC) today said it categorically denies the “speculative nature” of a media report regarding the Mumbai High tender and the company’s partnership with bp. A news item titled “ONGC Cancels Mumbai High Tender, Uncertainty Looms over bp Partnership” was published on 8 May 2025. The article claimed: “A major development has rocked the oil and gas sector. Reports suggest that ONGC has cancelled its much-talked-about Mumbai High tender.””ONGC categorically denies the speculative nature of the above report, which creates room for misinterpretation regarding the continuity of ONGC’s strategic partnership with bp,” the…

Russia is in an active stage of talks with China over the Power of Siberia 2 gas pipeline to bring more Russian gas to China, Russia’s Energy Minister Sergei Tsivilev said while Chinese President Xi Jinping is visiting Moscow.Despite the touted “active” talks, it is unlikely that Russia and China will sign an agreement on the proposed gas pipeline before May 9, Russian news agency TASS quoted Tsivilev as telling reporters.Xi flew to Moscow on Wednesday, will hold talks with Vladimir Putin on Thursday, and will attend a planned grand parade on Friday to mark the V-day of Russia defeating…

The U.S. Energy Information Administration (EIA) cut its average Brent oil spot price forecast for 2025 and 2026 in its latest short term energy outlook (STEO), which was released on May 6. According to that STEO, the EIA sees the Brent spot price averaging $65.85 per barrel this year and $59.24 per barrel next year. In its previous STEO, which was released in April, the EIA projected that the Brent spot price would average $67.87 per barrel in 2025 and $61.48 per barrel in 2026. The EIA’s latest STEO sees the commodity averaging $65.04 per barrel in the second quarter…

The National Oceanic and Atmospheric Administration is retiring its public database meant to keep track of the cost of losses from climate change-fueled weather disasters including floods, heat waves, wildfires and more. It is the latest example of changes to the agency and the Trump administration limiting federal government resources on climate change.NOAA falls under the U.S. Department of Commerce and is tasked with daily weather forecasts, severe storm warnings and climate monitoring. It is also parent to the National Weather Service.The agency said its National Centers for Environmental Information would no longer update the Billion-dollar Weather and Climate Disasters…

If Shell Plc were to acquire BP Plc, it would be among the largest deals in European history, creating for the first time a European oil major that could challenge industry leaders Exxon Mobil Corp. and Chevron Corp. The circumstances for such a takeover might not be auspicious for BP — its shares have lost almost a third of their value in the last year and investors are unconvinced by the company’s turnaround plan — but the deal would be transformative for Shell. Since Bloomberg reported that Shell has been studying the merits of an acquisition — something both companies have so…

Carbon Negative Construction: Holcim’s new biochar technology locks in CO₂, turning buildings into long-term carbon sinks. First Full-Scale Application: Technology debuts in a Basic Services Unit prototype developed with Pritzker Prize-winner Alejandro Aravena. Sustainable and Scalable: Integrates recycled aggregates and low-carbon cement formulations without compromising performance. Holcim, in collaboration with renowned architect Alejandro Aravena and his firm ELEMENTAL, has introduced a breakthrough in sustainable construction: a biochar-based concrete mix that actively removes carbon from the atmosphere. Launched at the 2025 Architecture Biennale in Venice, the innovation is showcased in a full-scale Basic Services Unit housing prototype. “Holcim is the leading…