Author: omc_admin

The U.S. big and bulky last-mile delivery market lost momentum in 2024, with slower growth expected through 2026, a new report from Armstrong & Associates says. What’s RelatedThe report, Delivering through Uncertainty: Big and Bulky Last-Mile Delivery in the United States, was released in partnership with the National Home Delivery Association. It looks at market size, key players, customer segments, delivery costs, and workforce trends across the U.S. Armstrong & Associates estimates the U.S. third-party logistics big and bulky last-mile market reached $10.15 billion in 2024. The firms analyzed in the report had delivery revenues ranging from $1.5 million to $1.1 billion, covering…

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersHowdy ya’ll and welcome to Energy Source coming to you from the heart of oil and gas country, Houston, Texas.I’m Kristina Shevory, a native Texan and the FT’s new energy correspondent, penning my very first Energy Source newsletter, in which I’ll be focusing on mergers and acquisitions.Before we get to that, my FT colleague Malcolm Moore has a story on how investment in fossil fuels…

Nearly nine out of ten institutional investors globally report that they are not changing their commitments to sustainable investing, despite geopolitical pressures, although many are being quieter about it, according to a new survey by financial group BNP Paribas. For the report, ESG Survey 2025, BNP Paribas surveyed 420 asset owners, asset management and private capital firms, representing nearly $34 trillion in assets under management, across 29 countries globally. The survey found that despite the recent geopolitical upheavals, less than 3% of investors reported scaling back their ESG objectives, while 87% report that their ESG and sustainability objectives remain the…

ADX Energy Ltd. has reached a deal to acquire Xstate Resources Ltd.’s (XST) 20 percent stake in Anshof, which would increase the Aussie company’s ownership in the Austrian producing field to 70 percent. Subject to the consent of the other partner, MND Austria a.s., the transaction would increase ADX’s share of production from 58 barrels per day (bpd) to 72 bpd. ADX’s total Austrian production would grow to 307 barrels of oil equivalent a day, according to ADX. “The transaction does not involve any cash outflows for ADX as the consideration of EUR 547,075 is set off in full against…

From coding agents to a Manhattan-sized data center, Meta’s going all in on AI this year — and now plans to put it to work in HR.The company is preparing to use AI to automate key parts of its recruitment process, including testing coding skills and helping interviewers with question prompts, according to an internal document obtained by Business Insider.The document reveals Meta’s plans to lean on AI to carry out several functions in its hiring process in the latter half of this year. Meta aims to use AI for a lot of the administrative work involved in its recruitment…

New Delhi: India’s Gas IndeX of India (GIXI) for May 2025 rose 19 per cent year-on-year to ₹1,016 or USD 11.9 per million British thermal units (MMBtu), tracking an increase in international spot gas benchmarks, according to data released by the Indian Gas Exchange (IGX).The GIXI recorded a 5 per cent decline on a month-on-month basis due to lower demand and higher supply. High inventory levels among marketers, who had anticipated increased demand from the power sector, coincided with lower actual power demand following an early monsoon and a peak of 231 GW, lower than the expected 260 GW-plus.Internationally, the…

TotalEnergies SE is exiting the under-development Gato do Mato field by divesting its stake to operator Shell PLC in exchange for an increased ownership in the producing Lapa field, where it is operator. Under the swap agreement for the deepwater Brazilian fields, Shell will acquire its French rival’s 20 percent interest in Gato do Mato, which they had just approved for development in March. This will result in the British company owning 70 percent of Gato do Mato. Colombia’s state-owned Ecopetrol SA holds 30 percent. TotalEnergies will acquire an additional three percent in Lapa, increasing its stake to 48 percent…

Engineers at MIT have developed a new approach to crude oil fractionating that could slash the amount of energy needed for processing the crude into different fuels by as much as 90% in a breakthrough that could revolutionize fuel production.MIT engineers have developed a membrane that can filter the components of crude oil based on their molecular size, eliminating the need for crude oil distillation, which is highly energy-intensive.According to MIT, separating crude oil into products such as gasoline, diesel, and heating oil accounts for about 6% of the global carbon dioxide (CO2) emissions. Most of that energy goes into…

There have been two significant OPEC+ decisions in the past week, analysts at Standard Chartered Bank, including the bank’s commodities research head Paul Horsnell, said in a report sent to Rigzone late Tuesday by the Standard Chartered team. “The first came from the 39th OPEC and non-OPEC Ministerial Meeting on 28 May,” the analysts stated in the report. “The press release noted that the meeting had decided to ‘mandate the OPEC Secretariat to develop a mechanism to assess participating countries’ maximum sustainable production capacity (MSC) to be used as reference for 2027 production baselines for all DoC countries’,” they added.…

At 09:10 GMT, Light Crude Oil Futures are trading $63.07, up $0.22 or +0.35%. Saudi Price Cuts and OPEC+ Supply Moves Weigh on Sentiment Crude came under pressure midweek after Saudi Arabia reduced its July selling prices to Asia to the lowest in nearly two months. While the cuts were milder than expected, they reflect soft demand in a region typically driving summer buying strength. The timing follows OPEC+’s decision to raise July output by 411,000 barrels per day, signaling that major producers are prioritizing market share even as demand signals waver. This coordinated action from Saudi Arabia and Russia…