Author: omc_admin

Indian refiners are expected to boost oil imports from Russia in the coming months, as trade talks with Washington drag on and discounts widen amid ample supplies. Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive, according to people familiar with the developments. That’s cheaper than discounts of about $1 a barrel in July-to-August, when supplies were tight due to Moscow’s prioritizing local customers. For the current month, ship-tracking data point to an uptick in arrivals. Crude imports from Russia could average about 1.7 million barrels a day in October, according to Kpler…

So far in 2025, Gold has smashed through 42 fresh all-time highs, officially surpassing last year’s tally. That makes 2025 its strongest yearly rally in over half a century. To put it in perspective, across the past 22 months, Gold has posted an astonishing 81 record highs – the equivalent of four new all-time highs every single month for nearly two years straight. That pace of wealth creation is unprecedented! As Lars Hansen, Head of Research at The Gold & Silver Club, explains: “We are living through a once-in-a-generation opportunity. Gold’s bull market is only accelerating. Those positioned now stand…

Oil rose to the highest in a week after a government report showed a decline in domestic product stockpiles, while strength in broader markets supported crude prices. West Texas Intermediate climbed 1.3% to trade above $62 a barrel, aided by gains in US equities. The Energy Information Administration reported a 763,000-barrel weekly drop at the Cushing hub in Oklahoma, as well as lower oil-product holdings across the board. US distillate stocks, in particular, saw the largest decline since late June. Price gains are still capped by the outlook for ample global supplies, with OPEC+ ramping up production and the US…

• The European Commission has delayed the adoption of sustainability reporting standards for non-EU companies under the Corporate Sustainability Reporting Directive (CSRD) until at least October 2027.• The delay is part of the EU’s broader effort to reduce administrative burdens through its “simplification agenda,” affecting over 100 planned legislative acts.• The move coincides with transatlantic negotiations and internal EU proposals to narrow the scope of corporate disclosure requirements under the Omnibus I initiative. The European Commission has delayed the rollout of sustainability reporting standards for large non-EU companies under the Corporate Sustainability Reporting Directive (CSRD), as part of a broader…

• Mars’ first European Renewable Acceleration contract will deliver over 129 MWac of new solar capacity in Poland by 2027.• The projects, developed with GoldenPeaks Capital, will generate 222 GWh annually—enough to power roughly 100,000 households.• The initiative expands Mars’ clean energy coverage beyond its direct operations to include key suppliers such as Cargill, advancing EU and global decarbonization goals. Mars Expands Renewable Acceleration Strategy into Europe Mars, Incorporated has signed its first European Renewable Acceleration contract with GoldenPeaks Capital to develop over 100 solar projects across Poland, advancing its goal to power both its operations and supply chain with…

Guyana has strengthened military cooperation with France to safeguard the oil-rich Essequibo region, escalating tensions with Venezuela just as the United States expands maritime strikes on vessels linked to Caracas.The defense announcement follows new reports of French assistance in surveillance and air patrols over Guyana’s western frontier, where ExxonMobil-led production continues to rise above 640,000 barrels per day, UPI reported. Venezuela maintains its long-standing claim over Essequibo, an area that encompasses most of Guyana’s proven offshore reserves, which now rank among the largest discoveries of the century. Caracas argues the 1899 arbitral award granting the region to then-British Guiana is invalid…

ABB has signed a term sheet agreement with SwitcH2 to engineer and supply automation and electrification solutions for a floating production, storage and offloading (FPSO) vessel designed to produce green ammonia from renewable power. The FPSO, which will be stationed off the coast of Portugal, will feature a 300-MW electrolyzer capable of producing up to 243,000 metric tons of green ammonia per year. Powered by certified renewable electricity purchased under a Power Purchase Agreement, the facility will play a role in meeting the growing global demand for low-carbon marine fuels. Under the agreement, ABB intends to deliver a prefabricated eHouse,…

Watching SpongeBob cook meth is a very different experience from viewing the countless other memes of the beloved cartoon.SpongeBob, Pikachu, and other well-known characters have been starring in very new (and very unauthorized) types of content in recent days, thanks to OpenAI’s Sora video generation app, a TikTok-esque AI app. Tech analyst Ben Thompson asked OpenAI CEO Sam Altman about these types of videos.While Altman did not address specific examples, he said the intellectual property rights holders are responding differently to AI video.”Video hits people, particularly rights owners, very differently than still images, it turns out,” Altman told Thompson during…

French state utility EDF is in talks with banks about a potential initial public offering of its Italian subsidiary Edison, according to sources cited by Reuters, in a move that could unlock billions in capital as EDF ramps up financing for its nuclear revival at home.EDF has begun sounding out major European lenders including BNP Paribas and Société Générale to assess investor appetite for a Milan listing that would value Edison between €7 billion and €10 billion ($8-11 billion). The group would likely retain a controlling stake while selling a minority portion to the public or strategic investors, according to…

(Investing)– The U.S. government is considering canceling billions of dollars in funding for clean energy programs, including awards for auto manufacturing and carbon capture, according to a list of targeted projects seen by Reuters. Projects on the list include two major direct air capture hubs that received billion-dollar awards from former President Joe Biden’s administration, including one that involves oil company  . Semafor reported the list earlier and said it could impact $12 billion in projects. Also on the list is $500 million awarded last year to  to convert its Lansing Grand River Assembly Plant in Michigan to EVs; $335 million for  to convert…