Author: omc_admin

Outdoor working has been banned during the hottest parts of the day in more than half of Italy’s regions as an extreme heatwave that has smashed June temperature records in Spain and Portugal continues to grip large swathes of Europe.The savage temperatures are believed to have claimed at least three lives, including that of a small boy who is thought to have died from heatstroke while in a car in Catalonia’s Tarragona province on Tuesday afternoon.In Palermo, Sicily, a 53-year-old woman died on Monday after fainting while walking along a street. She had reportedly suffered from a heart condition.A 70-year-old…

(Investing) – Oil prices edged higher Tuesday, bouncing off three-week lows with traders awaiting more news on potential trade deals ahead of the latest OPEC+ output meeting. At 08:15 ET (12:15 GMT),  for September rose 0.7% to $67.18 a barrel, climbing from their lowest level since June 11, just before the onset of the Israel-Iran war, while  gained 0.8% to $65.62 a barrel. U.S. tariff optimism grows  Oil markets are becoming cautiously optimistic that the Trump administration will be able to agree trade deals, as a July 9 deadline set by President Donald Trump to reach deals with the U.S. draws closer. U.S.…

Indonesia’s new energy strategy entails attracting oilfield services providers with the latest technology to help the Southeast Asian country revive and increase production from ageing or idle wells.With a reform enacted, oil and gas block operators in Indonesia will be allowed to partner with drilling and service technology providers to raise production from old wells or oilfields, the country’s deputy energy minister Yuliot Tanjung said on Tuesday, as carried by Reuters.Currently, Indonesia produces about 600,000 barrels per day (bpd) of crude oil. Its goal is to boost the output levels to 1 million bpd by 2030.“Many of these operators need…

Morocco’s Investment Ministry conducted the sixth monitoring committee meeting for the Chbika green hydrogen project, marking significant progress in securing land rights for the ambitious renewable energy initiative with international partners TotalEnergies, Copenhagen Infrastructure Partners, and A.P. Moller Capital.Deputy Investment Minister Karim Zidane chaired Monday’s meeting, which brought together all relevant public stakeholders including the Moroccan Agency for Sustainable Energy (MASEN), serving as focal point for Morocco’s green hydrogen initiative. The session validated project deliverables within stipulated deadlines, representing notable advancement in implementation. Discussions focused on preparing advanced study agreements that will form the technical and legal foundation for future…

Equinor and its partners are investing NOK 13 billion in the third phase of Johan Sverdrup, one of the world’s most carbon-efficient oil fields. New subsea infrastructure will increase recovery by 40–50 million barrels of oil equivalent (boe).  Image: Aker BP “By building on the technologies, solutions, and infrastructure from phases 1 and 2 of Johan Sverdrup, we can carry out an efficient development with a rapid start-up of production,” said Trond Bokn, senior vice president for project development in Equinor. “The project increases the recovery rate and value creation from Johan Sverdrup, one of the world’s most…

India is kicking off exploration efforts for cobalt and copper deposits in Zambia by sending a team of geologists to the African country known for its critical minerals reserves, sources at the Indian government told Reuters on Tuesday.In March this year, India bought land in Zambia to explore copper and cobalt, signaling a significant move to secure its mineral supply chains in Africa.India’s government has acquired greenfield land in Zambia’s northwest province with plans to explore copper and cobalt.Zambia’s economy is mainly based on export of minerals, most notably copper and cobalt, as well as gold, zinc, and lead. At…

Global food and beverage company Nestlé announced the release of a new independent evaluation of its income accelerator program promoting improved livelihoods for cocoa farming families and environmentally sustainable agricultural practices, indicating that the program is delivering measurable improvements in income and household resilience. The company said that it is expanding the program from its 10,000 family test phase in Côte d’Ivoire to 50,000 families by 2026 in Côte d’Ivoire and Ghana, with a long-term goal of supporting an estimated 160 000 cocoa-farming households by 2030. Nestlé, home to leading chocolate brands including Kit Kat and Nesquick, is one the…

Scientists analysing the cascading impacts of record low levels of Antarctic sea ice fear a loss of critical US government satellite data will make it harder to track the rapid changes taking place at both poles.Researchers around the globe were told last week the US Department of Defence will stop processing and providing the data, used in studies on the state of Arctic and Antarctic sea ice, at the end of this month.Tracking the state of sea ice is crucial for scientists to understand how global heating is affecting the planet.Sea ice reflects the sun’s energy back out to space…

The Bureau of Land Management (BLM) has approved a proposed Northwestern Energy pipeline to carry natural gas from Helena to Three Forks, as well as several geothermal expansion and research projects by Ormat Technologies in Nevada. “These projects mark important progress in expanding both traditional and renewable energy infrastructure on public lands”, the Interior Department sub-agency said in an online statement. The 74-mile, 16-inch pipeline benefited from emergency permitting procedures introduced by the Interior last April in response to President Donald Trump’s National Energy Emergency declaration in January. The Interior has allowed environmental assessments that normally take up to one…

Cheniere Energy Partners LP (CQP), part of Cheniere Energy Inc. (Cheniere), is offering $1 billion of senior notes due 2035 with a yearly interest of 5.55 percent. “The CQP 2035 Notes will be issued at a price equal to 99.731 percent of par”, CQP said in a press release. Cheniere Partners expects to close the offering July 10. “Cheniere Partners intends to contribute the proceeds from the offering to its subsidiary, Sabine Pass Liquefaction, LLC, to be used to redeem a portion of the outstanding aggregate principal amount of its senior secured notes due 2026”, the statement added. “The CQP…