Author: omc_admin

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…

Italian energy company major Eni’s venture capital unit Eni Next announced a new strategic partnership with asset manager Azimut to accelerate the development of cutting-edge energy technologies, with the planned launch of a new venture investment fund, with a fundraising target of €100 million (USD$118 million). Set to be launched in September 2025, the European Long Term Investment Fund (ELTIF) will be designed to channel capital into high-potential startups and clean tech scale-ups targeting decarbonization, energy efficiency, sustainable mobility, and the circular economy. The Luxembourg-domiciled fund, which is currently pending regulatory approval, will be open to both institutional and private…

Silicon Valley startup Lyten will take full ownership of Northvolt Dwa ESS, Europe’s largest energy storage systems factory, in a move to expand its product line, the U.S. company said on Tuesday. Northvolt filed for bankruptcy in March, one of Sweden’s largest corporate failures and effectively ending Europe’s best hope of developing a rival to challenge Chinese battery makers. It announced the factory’s closure in November last year. “We plan to immediately restart operations in Poland and deliver on existing and new customer orders,” Dan Cook, Lyten CEO and co-founder, said in a statement. The 25,000…

Berlin’s public transport provider, the Berliner Verkehrsbetriebe (BVG), has put in a second order of electric buses from Solaris, this time, for 270 articulated electric buses. The new order is part of a framework agreement signed by both parties in 2023 for up to 700 articulated electric buses. This second order from Berliner Verkehrsbetriebe (BVG) follows the first order placed in December 2023 for 50 Solaris Urbino 18 electric buses, which should be completed in the course of this year. The 270 new units ordered will be vehicles of the same length equipped with “Solaris High Energy batteries”, which can…

Canada ships first LNG export from Pacific coast to Asia.Milestone project aims to tap Asian markets and diversify energy exports. Canada’s first-ever LNG export cargo has been shipped from the country’s Pacific Coast en route to Asia, a spokesperson for the Shell-led LNG Canada said on Monday. The cargo was loaded onto the tanker Gaslog Glasgow from LNG Canada’s site in Kitimat, British Columbia, just over a week after the facility confirmed first production and became the first large-scale commercial LNG operation in the country. LNG Canada is the first major LNG facility in North America with direct access to…

“>”The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in India, which is one of its key growth markets,” it said in a statement.Shell Lubricants completed the acquisition of Raj Petro Specialities, strengthening its lubricants portfolio and customer base, the company said on Tuesday. Without disclosing financial details of the transaction, Shell said it has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from the Brenntag Group.”The acquisition of Raj Petro Specialities supports Shell Lubricants as it strives to grow its portfolio and customer base in…