Author: omc_admin

Governments should consider taxing artificial intelligence and cryptocurrencies to generate funds to deal with the climate crisis, one of the architects of the Paris agreement has said.Laurence Tubiana, the chief executive of the European Climate Foundation and a former French diplomat, is co-lead of the Global Solidarity Levies Task Force, an international initiative to find new sources of funds for climate action by taxing highly polluting activities including aviation and fossil fuel extraction.She said cryptocurrency should certainly be taxed, and levies on AI should be considered.“That could be a first step – again, it’s the same rationale [for AI as…

The Petroleum and Natural Gas Regulatory Board (PNGRB) has directed city gas companies to charge a uniform rate for household fuel, regardless of consumption levels, in a bid to end the practice of some firms charging higher prices beyond a certain usage threshold.“It has come to the Board’s notice that certain city gas distribution (CGD) entities are implementing a telescopic pricing structure for piped natural gas (PNG) domestic consumers, wherein the per SCM (Standard Cubic Meter) price of natural gas escalates as consumption surpasses a predefined threshold,” the downstream regulator said. “Such pricing practices may inadvertently facilitate the unauthorized use…

Publisher’s Note: Eni SpA will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025.  Register to attend. (World Oil) – Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years. This deal marks Eni’s first ever long-term agreement with a U.S. LNG producer. To date, approximately 13.5 MMtpa of CP2 Phase One has been sold, raising the total contracted capacity for all of Venture Global’s projects to 43.5 MMtpa. To date, Venture…

New Delhi: India’s import of petroleum products (POL) rose 18.4 per cent in June 2025, even as the overall oil and gas import bill declined to $10 billion from $10.8 billion in the same month last year, according to the latest official data.The rise in POL product imports during April-June FY26 stood at 2.9 per cent compared to the corresponding period of FY25, mainly on account of increased imports of liquefied petroleum gas (LPG), naphtha and petcoke.Crude and LNG tradeCrude oil imports rose 5 per cent in June 2025, but dipped 0.3 per cent during the April-June quarter over the…

PORTRUSH, Northern Ireland (AP) — The British Open had a little bit of everything Thursday, from sunshine to rain, a breeze to strong gusts. And no surprise, it had Scottie Scheffler never too far from the lead.Former U.S. Open champion Matt Fitzpatrick handled the notorious “Calamity Corner” par-3 16th by chipping in for birdie and was among three players from the morning wave who posted a hard-earned 4-under 67 at Royal Portrush.Rory McIlroy played in the afternoon — he made bogey on the opening hole before a massive gallery, but that was still three shots better than his start in…

On the other hand, China’s economic data also supported oil prices. Crude throughput in June jumped 8.5% year-over-year, pointing to stronger consumption. Moreover, the positive developments on US-China trade, along with progress on deals with India and Europe, lifted market confidence. These combined factors hint at continued upside for oil in the near term. WTI Crude Oil (CL) Technical Analysis WTI Oil Daily Chart – High Volatility The daily chart for WTI crude oil shows bearish price action below the 200-day SMA. The geopolitical crisis in the Middle East has triggered heightened volatility in crude oil prices. Despite the fluctuations,…

Zohran Mamdani had no deck, but plenty of pitch when he met with New York City’s tech community on Wednesday night.At an invite-only fireside chat with venture capitalist Kevin Ryan, the New York City Democratic mayoral candidate tried to sell a room of tech workers and startup investors on his vision for a city that works for the working class.And he mostly avoided the controversy surrounding his views on Israel and tax hikes for the city’s millionaires and billionaires, according to multiple people who attended the event.Fresh off a primary win powered by the blunt message that New York is…

(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S. energy consumption in 2024. Nonfossil fuel energy—from renewables and nuclear energy—accounted for the other 18%. Petroleum remained the most-consumed fuel in the United States, as it has been for the past 75 years, and nuclear energy consumption exceeded coal consumption for the first time ever.   When the Declaration of Independence was signed in 1776, wood, a renewable energy source, was the largest source of…

(BOE Report)– Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up.   As the global oil industry enters a downturn due to economic uncertainty related to U.S. tariffs policy and OPEC+ pumping more barrels, Canada’s oil sands industry finds itself in a position of strength. In the years following the oil price crash of 2014-15, international oil majors including BP, Chevron and Total sold their interests in Canadian…

The Association of the Petroleum Industry of Kurdistan (APIKUR) has spoken out condemning attacks on oil production sites operated by APIKUR member companies in Iraq’s Kurdistan Region that occurred on July 15 and July 16, 2025.  “These attacks threatened the lives and safety of our predominantly Iraqi workforce and expatriate staff of various nationalities, and also damaged facilities,” APIKUR stated.  Following the strikes, the operators are assessing damage to production and other field facilities. The majority of APIKUR member companies, including those not targeted, have announced suspension of production totaling over 200,000 bpd. APIKUR has called on the…