Author: omc_admin

HANOI, Vietnam (AP) — Tropical Storm Wipha made landfall in northern Vietnam on Tuesday, bringing strong winds and heavy rain to parts of the country’s north and central regions.The storm came ashore at 10 a.m. with sustained winds of 64–102 kilometers per hour (40–63 mph), and gusts up to 138 kph (86 mph), according to local weather officials. After landfall, it began moving southwest.Wipha was classified as a typhoon on Monday while over open water, but weakened overnight and was downgraded to a tropical storm before reaching land.The storm knocked out power in parts of Hung Yen Province, east of…

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Pictured above: PetroChina storage tanks (Bloomberg) — U.S. Treasury Secretary Scott Bessent said the next round of U.S.-China talks could include a discussion of China’s purchases of Russian and Iranian oil, a signal that the focus could shift from more traditional trade issues to ones that cross over into matters of national security.  U.S. President Trump has threatened 100% secondary tariffs against countries who purchase sanctioned oil “Trade is in a good place,” Bessent said on CNBC, referring to recent and ongoing negotiations with China. “And I think now we can start talking about other things. The Chinese,…

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(Oil Price)– The chief executive of gas major EQT has called on legislators to reduce the length of the approval process for new natural gas infrastructure in order to boost the competitiveness of U.S. energy. In an interview with the Financial Times, Toby Rice said that “The threat of not getting infrastructure built has only gotten larger — not only from bad actors getting rich by selling energy that could be replaced with American energy — it’s also the threat of China winning the AI race.” AI has become a focus of attention for energy companies as it prompts a radical revision…

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China’s exports of clean-energy technologies such as solar panels, batteries and electric vehicles are increasingly helping to cut emissions in other countries. Such exports in 2024 alone are already shaving 1% off global emissions outside of China and, in total, will avoid some 4bn tonnes of carbon dioxide (GtCO2) over the lifetimes of the products. Moreover, the global CO2 savings from using these products for just one year acts to more than outweigh the emissions from manufacturing them. This new analysis for Carbon Brief is based on a detailed assessment of clean-technology export flows, the carbon footprint of manufacturing these…

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Image credit: African Energy Chamber  Image: TotalEnergies With Namibia set to start oil production by 2029, the country is witnessing a surge in global investments across its E&P landscape, African Energy Chamber announced. From global energy majors to leading independents to regional energy companies and financiers, energy firms are ramping up their investments in what is poised to become the next major African producer. As international investors navigate Namibia’s evolving energy and mining industries, the newly-launched Alvenco Advisory will support companies as they expand their presence across the southern African country.  Namibia’s former-Minister of Mines and Energy, Tom…

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Analysts at GSC Commodity Intelligence – are calling this the most market-moving speech of Powell’s entire career. For commodities traders, it could mark the turning point that shapes the remainder of 2025. Tariff Deadline: A Ticking Time Bomb for Supply Chains and Prices If Powell’s speech wasn’t enough, Friday’s tariff deadline looms large. Unless there’s a last-minute reprieve, the U.S is set to impose sweeping tariffs on Chinese and European imports – a move with profound implications for industrial Commodities. Copper, Aluminium, Steel, and Rare earth Metals face heightened risk. Supply chains are fragile, inventories thin and further escalation could…

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(BOE Report)– The Trump administration is more concerned with the quality of trade agreements rather than their timing, U.S. Treasury Secretary Scott Bessent said on Monday ahead of an Aug. 1 deadline for securing a trade deal or facing steep tariffs. “We’re not going to rush for the sake of doing deals,” Bessent told CNBC in an interview. Asked whether the deadline could be extended for countries engaged in productive talks with Washington, Bessent said U.S. President Donald Trump would decide. “We’ll see what the president wants to do. But again, if we somehow boomerang back to the August 1…

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Central European Petroleum (CEP) has made a significant oil discovery in the 100% owned and operated Wolin East 1 well, located in the Baltic Sea offshore Poland, the company has announced.  The WE1 well was drilled using a jackup rig in waters 9.5 m deep and reached a vertical depth of 2715 m. Tests confirmed a 62-m hydrocarbon column and excellent reservoir properties for oil and gas production in the Main Dolomite geological formation. The Wolin East oil discovery is estimated to contain mean recoverable oil, sales gas and natural gas liquids totaling 200 million barrels of oil…

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Pictured above: PetroChina storage tanks (Bloomberg) — U.S. Treasury Secretary Scott Bessent said the next round of U.S.-China talks could include a discussion of China’s purchases of Russian and Iranian oil, a signal that the focus could shift from more traditional trade issues to ones that cross over into matters of national security.  U.S. President Trump has threatened 100% secondary tariffs against countries who purchase sanctioned oil “Trade is in a good place,” Bessent said on CNBC, referring to recent and ongoing negotiations with China. “And I think now we can start talking about other things. The Chinese,…

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Twenty-seven blue, pink and purple trunks, adorned with yellow roses and other flowers, were placed within view of the White House on Monday – each representing a child who perished when Camp Mystic in Texas was overwhelmed by a devastating flood.“We are gentle, angry people and we are singing for our lives,” sang a group of activists, including mothers from Texas, as they protested against the deadly consequences of government cuts and Donald Trump’s inaction on the climate crisis.Flash floods killed at least 135 people over the Fourth of July weekend. Most of the deaths were along the Guadalupe River…

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