Author: omc_admin

In the 22 years that Emergence Capital has been making investments, the venture capital firm says it’s never lost a partner to another firm.That’s a surprising stat in VC, where partner turnover has become a growing source of anxiety for firms and founders alike. The stakes are high: when a partner leaves a firm to join another or to start their own firm, they may take founder relationships, deal flow, and institutional knowledge with them.Other disillusioned investors are leaving the industry altogether. That churn can also leave a firm’s portfolio companies scrambling to bring in a new board member when…

China accounts for as much as 74% of all wind and solar projects currently under construction, Global Energy Monitor said in a new report, as cited by the Financial Times.The country that is already home to the most sizable wind and solar generation capacity in the world, is in the process of building 510 GW more in utility-scale solar and wind capacity, the climate NGO said. The global total including China’s share stands at 689 GW.China has been breaking record after record in both wind and solar as it seeks to diversify its energy supply away from imports. In May…

WASHINGTON (AP) — As commerce secretary, Howard Lutnick oversees the U.S. government’s vast efforts to monitor and predict the weather.The billionaire also ran a financial firm, which he recently left in the control of his adult sons, that stands to benefit if President Donald Trump’s administration follows through on a decade-long Republican effort to privatize government weather forecasting.Deadly weekend flooding in central Texas has drawn a spotlight to budget cuts and staff reductions at the National Weather Service and the National Oceanic and Atmospheric Administration, two agencies housed within the Commerce Department that provide the public with free climate and…

BP PLC has appointed Simon Henry as a non-executive director to its board effective September 1, 2025. During his over 35 years with Shell, Henry held senior finance and management positions worldwide, serving as chief financial officer and board member from 2009 to 2017, BP noted. “The board will benefit from his deep and broad experience of the global upstream and downstream energy industry and his financial and commercial understanding of global markets, together with his extensive and varied board experience”, Helge Lund, chair of BP, said. BP said Henry possesses extensive expertise and experience in global finance, strategy, governance,…

Mol Nyrt., the Hungarian oil company that’s faced criticism for maintaining strong reliance on Russian energy, sees a pipeline from the Ukrainian port of Odesa as its best bet at diversification. The company wants to gain access to the Odesa-Brody crude pipeline that runs from Ukraine’s Black Sea port to near the nation’s border with Poland – allowing it to get seaborne supplies from a number of global producers, said Szabolcs Pal Szabo, Mol’s senior vice president for value chain management.  Flows could then be routed to Hungary via the southern Druzhba link, which currently carries Russian oil to the country…

Malaysia’s national oil and gas company, which owns a 25 percent stake in LNG Canada, has sent its first cargo from the Kitimat, British Columbia project to Japan. The shipment embarked Monday through the 174,000-cubic-meter (6.14 million cubic feet) Puteri Sejinjang LNG vessel, Petroliam Nasional Bhd. (Petronas) said in a press release. It did not disclose the volume. The LNG Canada consortium earlier announced the start-up of the 14 million metric tons per annum (MMtpa) project on June 30. The facility targets Asia. “Each LNG Canada joint venture participant will provide its own natural gas supply and individually offtake and…

WASHINGTON (AP) — Most of the U.S. adults who have experienced major flooding in the past five years think climate change was at least a partial cause, according to polling conducted earlier this year, before the deadly Texas floods. But while Americans largely believed the federal government should play a major role in preparing for and responding to natural disasters, an analysis of recent AP-NORC polls shows less consensus about whether the government should be involved in combating climate change to try to keep extreme weather from getting worse.The polls from The Associated Press-NORC Center for Public Affairs Research were…

Crude oil prices took a dip today after hitting a two-week high earlier, as traders awaited updates on President Trump’s tariff plans, following the latest delay in trade deals with some key partners such as Japan and South Korea.Brent crude was trading at $70.07 per barrel at the time of writing, with West Texas Intermediate changing hands for $68.26 per barrel. Both were slightly down from Tuesday’s close after President Trump postponed the entry into effect of tariffs on 14 partner countries from July 9 to August 1. Trump has said that “No extensions will be granted.”U.S. trade partners face…

ALBUQUERQUE, N.M. (AP) — A New Mexico mountain village prepared Wednesday for another round of monsoon rains as crews scrambled to dig out from a historic flash flood that killed three people, damaged dozens of homes and left streets and culverts clogged with mud and debris.A man, a 4-year-old girl and a 7-year-old boy were swept away from an RV park along the Rio Ruidoso as floodwaters raged through the area Tuesday afternoon. The bodies were found downstream from the park at a distance between 1/4 of a mile and 2 miles (3 kilometers).The two children were related, but authorities…

Hynamics UK, part of France’s EDF Group, is bringing Hy24 onboard a renewable hydrogen project meant to help decarbonize Exxon Mobil Corp.’s Fawley refining and petrochemical complex. Hynamics UK and Hy24 signed Tuesday during the UK-France Summit a memorandum of understanding that would secure funding for the Fawley Green Hydrogen Project. Paris-based Hy24 is a private equity asset manager focused on the production of low-carbon hydrogen and its derivatives. The project is planned to have a 120-megawatt electrolyzer. Hynamics UK expects to cut the Fawley complex’s carbon dioxide emissions by 100,000 metric tons a year “by replacing heavy fuel oil…