Author: omc_admin

XCF Global Inc. announced Thursday an investment plan of nearly $1 billion over the next three years to build sustainable aviation fuel (SAF) production facilities, with most of its in-the-pipeline projects in the United States. The package includes $350 million already invested in New Rise Reno in Nevada, which has a nameplate capacity of 38 million gallons a year. It started production early this year. The announcement follows XCF Global Capital Inc. and Focus Impact BH3 Acquisition Co.’s completion of their merger, creating what they said is the first publicly traded pure-play SAF producer in the U.S. Under its U.S.…

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Puerto Rico’s finance watchdog is refusing to OK a $20 billion natural gas supply deal that it said would give New Fortress Energy Inc. a near monopoly over the island’s energy future.  The Financial Oversight and Management Board has “profound concerns” about a proposed 15-year contract between Genera PR – a New Fortress subsidiary that operates the territory’s power plants – and the company unit that delivers liquefied gas, according to a letter to Puerto Rico’s energy czar, Josue Colon.  Approving the contract would “lock the island into a long-term commitment with a single supplier, potentially undermining market competition and limiting flexibility,”…

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Shell has received environmental authorization to drill up to five deepwater wells to explore for oil and gas off the west coast of South Africa.“Should viable resources ?be found offshore, this could significantly contribute to? South Africa’s energy security and the government’s economic development programmes,” the supermajor said in a statement carried by Reuters.The company did not provide details of the drilling plans.Shell applied last year for environmental authorizations to drill ultra-deepwater wells offshore South Africa, targeting drilling in the Northern Cape Ultra Deep Block (NCUD) in the Orange Basin off South Africa’s west coast.Previous attempts by Shell to drill…

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Aker Solutions ASA has bagged a contract from its compatriot Equinor ASA to prepare the topside of Troll C to receive and process production from the Fram Sor subsea tie-in project. The company said in a media release the deal is valued between NOK 0.5 billion ($49.6 million) and NOK 1.5 billion ($148.9 million). Fram Sor is planned as a subsea connection to Troll C, leveraging the platform’s current processing capacity. Situated 20 kilometers (12.4 miles) north of Troll C, the tie-in involves modifications to Troll C’s topside. The scope covers engineering, procurement, construction, installation, and commissioning, along with services…

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World-first deployment: Envision delivers the first AI-integrated, off-grid green hydrogen and ammonia facility at commercial scale. Industrial decarbonization at scale: The plant produces 320,000 tons of green ammonia annually, with a roadmap to 1.5 million tons by 2028. Global validation and demand: Certified by Bureau Veritas and backed by a major offtake agreement with Marubeni Corporation. Envision, a global leader in green technology, has officially commissioned the world’s largest and most advanced green hydrogen and ammonia facility — the first to operate off-grid and fully powered by AI-integrated renewable energy systems. Located in the Chifeng Net Zero Industrial Park in…

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When it comes to AI, Nvidia may be the star of the show, but some Wall Street analysts have their eyes on another Big Tech name: Alphabet.It’s certainly a less popular pick this. year. Investors have soured on Alphabet in recent months on concerns that AI could disrupt the company’s core search business. With platforms such as ChatGPT, users can directly access answers to their questions without clicking on links, reducing ad exposure for Google.Alphabet stock is down 6% year-to-date, but that dip is exactly what makes it appealing, according to Mark Mahaney, Evercore ISI’s head of internet research. On…

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Avelia Pilot Launch: One of the world’s first blockchain-based book-and-claim platforms for Sustainable Aviation Fuel (SAF), launched with 1 million gallons—enough for nearly 15,000 London–New York business flights. Credible SAF Allocation: The platform ensures secure, transparent tracking and allocation of SAF’s environmental attributes, avoiding double-counting and enabling corporate carbon reductions. Co-Investment Model for Scale: Avelia supports scalable co-funding of SAF to drive demand, reduce price premiums, and accelerate aviation’s path to net zero. Shell, Accenture, and American Express Global Business Travel (Amex GBT) have jointly launched Avelia, one of the world’s first blockchain-powered digital book-and-claim solutions for Sustainable Aviation Fuel…

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Global oil supply growth is expected to materially exceed demand growth this year despite the tight market balance in the peak summer consumption season, the International Energy Agency (IEA) said in its monthly report on Friday.Following OPEC+’s supersized production hike for August, the IEA revised up its estimate of global oil supply growth to 2.1 million barrels per day (bpd) for 2025 in its Oil Market Report for July, up by 300,000 bpd from last month’s projection of 1.8 million bpd growth.At the same time, global oil demand is expected to increase by less than 1 million bpd in 2025,…

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SUTTON, Vt. (AP) — Communities in rural parts of Vermont on Friday woke up once again to damaged homes and washed-out roads due to heavy rainfall and flash flooding, making it the third consecutive summer that severe floods have inundated parts of the state.Up to 5 inches (13 centimeters) of rain fell in just a few hours on Thursday, prompting rapid flooding as local waterways began to swell, said Robert Haynes, a meteorologist with the National Weather Service’s Burlington office.Nearly 20 homes were cut off in the small town of Sutton as a local brook quickly rose from its banks…

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Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins.BP’s realizations in the oil production and operations segment are expected to be $600 million-$800 million lower in the second quarter compared to the first quarter, the supermajor said in a trading statement on Friday ahead of publishing full Q2 results on August 5.Brent oil prices averaged $67.88 per barrel in the second quarter compared to $75.73 a barrel in the first quarter 2025, the company said.BP’s gas and low carbon energy segment is seen posting realizations up to $300…

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