Author: omc_admin

Japan’s JERA Co. Inc. and Muji brand operator Ryohin Keikaku Co. Ltd. have agreed to establish Muji Energy LLC, a special purpose company (SPC) focused on renewable power generation, including the development and operation of solar power generation facilities through joint investment. Ryohin Keikaku has also agreed with JERA subsidiary JERA Cross Co. Inc. to enter into a virtual power purchase agreement (PPA) for renewable energy, JERA said in a news release. The electricity will be provided to Japan Electric Power Exchange (JEPX). The agreement will allow Ryohin Keikaku to use the solar power generated by the SPC and reduce…

In times of geopolitical chaos, the average person might watch a meditation video or stock up on canned goods. The wealthiest among us, however, might turn to a luxury underground bunker instead.”When a war breaks out, or when America bombs Iran, it does cause a spike in our business,” Ron Hubbard, founder and CEO of Atlas Survival Shelters, told BI.Larry Hall, the owner of luxury bunker company Survival Condo, also said he’s seen increased interest during geopolitical conflicts, including the recent one between Israel and Iran.Hubbard said it’s safe to assume that most billionaires have some sort of shelter, though…

A coalition of 198 organizations, including more than 150 companies and investors, as well as dozens of service providers and sustainability-focused groups announced today the release of a joint statement, calling on European policymakers to preserve key elements of the EU’s sustainability framework, including calling to keep a greater number of companies in the scope of the CSRD sustainability reporting and CSDDD sustainability due diligence regulations than current proposals are targeting. In the statement, the group warns that in addition to forming a key foundation for the achievement of the EU’s economic and sustainability goals, rules on sustainability reporting, transition…

Will the OPEC+ Output Hike Cap Gains in Oil Prices? Oil prices held steady on Tuesday as markets anticipate OPEC+ to announce a 411,000 barrels per day production hike for August during its July 6 meeting. If approved, this would bring the group’s total 2025 increase to 1.78 million bpd, equivalent to over 1.5% of global demand, keeping the market well supplied despite recent geopolitical tensions. Saxo Bank noted that while potential trade deals could improve demand sentiment, the “accelerated rate of output increases” from OPEC+ remains a core concern for bullish traders. Rising supply could act as a ceiling…

Saudi Arabia is expected to raise the price of its flagship crude loading for Asia in August to a four-month high as demand strengthens in the summer and buyers seek more term supplies amid volatile spot prices.Saudi oil giant Aramco, the world’s top crude exporter, is set to raise the price of its Arab Light crude in Asia for August by between $0.50 and $0.80 per barrel to up to $2.00 a barrel over regional benchmarks, according to a Reuters survey of five Asian refining sources.Last month, Saudi Arabia reduced its official selling prices (OSPs) for Asia for July after…

Good morning.The US Senate is still holding a marathon vote on a sprawling budget that is vital to Donald Trump’s agenda and would result in sweeping tax breaks and cuts to healthcare and food programs if passed.Senators have convened at the Capitol for a process known as “vote-a-rama”, in which lawmakers will propose amendments to the legislation over what is expected to be many hours.Democrats say the bill’s tax cuts would disproportionately benefit the wealthy at the expense of social programs for lower-income Americans.The One Big Beautiful Bill Act (yes, it is formally called this) is expected to add an…

The U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released last month, sees U.S. crude oil production, including lease condensate, rising to an average of 13.42 million barrels per day in 2025. Lower 48 states, excluding the Gulf of America, are projected to contribute 11.17 million barrels per day to the 13.42 million barrel per day figure, the STEO showed. The Permian region is expected to make up 6.54 million barrels per day of the 11.17 million barrel per day figure, while the Bakken region is expected to make up 1.19 million barrels per day,…

Cloudflare announced a major policy shift that could reshape the dynamics between content creators and AI companies.Beginning Tuesday, the company will automatically block AI crawlers from scraping the websites it powers, unless site owners explicitly opt in. This makes Cloudflare the first major internet infrastructure provider to enforce a default permission-based model for AI content access.The move comes amid growing concerns from content creators and publishers that AI giants are exploiting their work without consent or compensation.Historically, search engines have indexed content in a way that drives traffic and ad revenue back to original sources. But AI bot crawlers, used…

EU member states may be allowed to count controversial carbon credits from developing countries towards their climate targets, the European climate commissioner has said as states meet for a crucial decision on the issue.The EU will discuss on Wednesday its target for slashing carbon dioxide by 2040, with an expected cut of 90% compared with 1990 levels, in line with the bloc’s overarching target of reaching net zero by mid-century.If agreed by member states, and passed by the EU parliament, that goal is then supposed to be translated into an international target – known as a nationally determined contribution (NDC)…

Shell PLC and its LNG Canada partners announced Monday they had dispatched the first cargo from the Kitimat, British Columbia project, saying the milestone introduces Canada as an exporter of liquefied natural gas (LNG). With a capacity of 14 million metric tons per annum (MMtpa) from two trains, the facility targets the Asian market. “With LNG Canada’s first shipment to Asia, Canada is exporting its energy to reliable partners, diversifying trade, and reducing global emissions – all in partnership with Indigenous Peoples”, Prime Minister Mark Carney said. “By turning aspiration into action, Canada can become the world’s leading energy superpower with the…