Author: omc_admin

By: Cara Maesano, Manager, Climate-Aligned Industries & Daniel Pike, Principal, Climate-Aligned Industries, RMI There are both climate and commercial imperatives for heavy industry to pursue carbon removal — for first movers and early adopters especially, this can also be a strategic advantage. Synergies with existing industrial processes present new opportunities to implement carbon removal methods as a means of improving efficiency, productivity, and revenue, while meeting regulatory demands. RMI’s recent report, Seizing the Industrial Carbon Removal Opportunity, highlights the case for why industrial leaders should act now to develop and deploy carbon removal technologies within industrial value chains —and how…

ROCHESTER, N.Y. (AP) — In 2020, following ferocious wildfires across Southern California, Jasmin Singer and her wife, Moore Rhys, decided they had had enough of Los Angeles. They packed their bags and moved to New York state.They debated between Ithaca and Geneva before finally picking Rochester, about a six-hour drive northwest from New York City. Rochester won out in part because of a more stable climate and progressive policies aimed at combating climate change, caused by the burning of fuels like gasoline and coal. “We were all kinds of nutty about climate,” said Singer about picking Rochester. Jasmin Singer hosts…

An analysis piece sent to Rigzone by the S&P Global team on Monday stated that U.S. crude oil production is now expected to decline next year. “Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights,” the analysis piece – by Jim Burkhard, Vice President and Global Head of Crude Oil Research, Ian Stewart, Associate Director, and the S&P Global…

Australia’s Woodside Energy and Saudi Aramco have signed an agreement to explore cooperation opportunities that may include the Saudi company buying a stake in the Louisiana LNG project.The agreement is non-binding, Woodside said, adding that it could involve “Aramco’s potential acquisition of an equity interest in and LNG offtake from the Louisiana LNG project.”Woodside’s CEO, Meg O’Neill, said the deal was “another demonstration of the ongoing interest Louisiana LNG is generating among high-quality potential investors, following our recent agreement with Stonepeak to acquire a 40% interest in the project’s infrastructure holding company.”The Australian energy major announced the final investment decision…

Ghana is encouraging investors to get the country’s crude out of the ground to avoid the assets from getting stranded amid a global decarbonization push. The government is ready to roll out the “red carpet” to any investor prepared to drill and pump crude, President John Mahama said at the Africa CEO Forum in Abidjan, Ivory Coast’s commercial capital, on Tuesday. “Oil is in transition and so anybody who has any assets should be pumping like there’s no tomorrow,” he said. Oil output in Ghana fell for the past five consecutive years, mainly due to a lack of investment in…

Woodside Energy Group Ltd. has inked a non-binding collaboration deal with Saudi Arabian Oil Co. (Aramco) including for the Saudi oil giant’s potential offtake from and ownership in Louisiana LNG. The planned cooperation also eyes lower-carbon ammonia, among other global opportunities, the Australian oil and gas explorer and producer said in an online statement Wednesday. “This collaboration aligns with Woodside’s strategic vision to build a diverse and resilient global portfolio”, Woodside chief executive Meg O’Neill said. “It leverages our growing relationship with one of the world’s leading integrated energy and chemicals companies, to explore new opportunities which deliver value for…

Canada’s new Prime Minister, Mark Carney, suggested he would support a new pipeline project if there is consensus about it, he said in an interview with CTV News.First off, I’ve said repeatedly: yes. First point,” Carney said in response to a question about new pipelines. “Secondly, because I understand the need for that consensus. I’m a prime minister who can help create that consensus,” Carney also said.The Prime Minister did not elaborate on what specific kind of pipeline he would seek to create consensus for, he has previously said that “We have to choose a few projects, a few big…

A conservative estimate indicates there were 1,700 gigawatts (GW) of renewable energy and hybrid projects waiting for grid connections across 16 European countries in 2024-25, according to research published Tuesday. The study by Beyond Fossil Fuels, E3G, Ember and the Institute for Energy Economics and Financial Analysis blamed the slow integration on outdated planning and policies that are slowing the upgrade and build-out of electricity highways. “The analysis of 32 electricity transmission system operators (TSOs) across 28 countries finds that many are still using outdated scenarios rooted in old government targets and market assumptions”, the think tanks said in a…

By Irina Slav – May 14, 2025, 1:46 AM CDT Goldman Sachs analysis indicates that US President Donald Trump prefers crude oil prices in the $40 to $50 per barrel range, based on his social media posts. Crude oil prices are currently trading higher due to progress in US-China trade talks, but a significant build in US oil inventories is anticipated. There is a potential conflict between Trump’s desire for lower oil prices and the needs of US shale drillers, who require higher prices to maintain production. U.S. President Donald Trump likes crude oil prices in the range of…

Commodity trader Gunvor Group has made another significant oil deal in Gabon, its second since the country sought more control of national assets following a coup d’etat in 2023. State-owned Gabon Oil Company financed $220 million of a $300 million deal for Tullow Oil Plc’s assets in the country through an underwritten prepayment facility from Gunvor’s Middle East subsidiary, Tullow said in a filing Tuesday. Gunvor last year provided around $800 million to help Gabon finance another nationalization deal, the acquisition of Carlyle Group’s Assala Energy. A spokesperson for Gunvor declined to comment on the deal. Coming out of the…