Author: omc_admin

SSE, a major energy company and renewable projects developer in the UK, is reducing spending on renewables in its five-year plan to 2027 by $2 billion (£1.5 billion) “in a changing macro environment,” in yet another blow to Britain’s clean energy ambitions.SSE said on Wednesday that it is reducing its five-year investment expectations by $4 billion (£3 billion) to around $23.4 billion (£17.5 billion). Of the $4 billion reduction in the updated plan, $2 billion is in the renewables business and the other $2 billion is reduced investment in transmission and thermal power.The cut to investments is “reflecting financial discipline…

TotalEnergies SE has committed to buying two million metric tons per annum (MMtpa) of liquefied natural gas (LNG) for 20 years from the pending Ksi Lisims LNG project in British Columbia. Concurrently the French integrated energy company also agreed to acquire a 5 percent stake in Western LNG LLC, one of the partners advancing the project and the future operator. “This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10 percent when the final investment decision is made”, TotalEnergies said in an online statement. With a…

€992M in EU funding awarded to 15 hydrogen projects, targeting 2.2M tonnes of renewable hydrogen and over 15M tonnes of CO₂ reduction over 10 years. Dedicated maritime hydrogen support of €96.7M signals shift toward decarbonizing hard-to-abate sectors like shipping. Up to €836M in additional national funding leveraged through ‘Auctions-as-a-Service’ by Spain, Lithuania, and Austria to back more projects. The European Commission has selected 15 renewable hydrogen production projects across five countries in the European Economic Area (EEA), unlocking €992 million in public funding through the Innovation Fund. This strategic move is aimed at accelerating the production of nearly 2.2 million…

SCARBOROUGH, Maine (AP) — An unusual May nor’easter is set to wallop New England on Thursday, providing a soaking before the Memorial Day holiday weekend with weather more commonly associated with fall and winter.Nor’easters usually arrive in the end of fall and winter and bring high winds, rough seas and precipitation in the form of rain or snow. This week’s nor’easter could bring wind gusts over 40 mph (64 kph) and up to 2 inches (5 centimeters) of rain in some areas. Snow is even possible at high elevations.The storm has New Englanders preparing for a messy couple of days…

Revera launches with 5+ GW of clean energy projects across Australia and the UK, targeting battery storage, solar, wind, and green hydrogen. Backed by Carlyle and major global financiers, including Nomura, CBA, Westpac, Natixis, and EDC. Strategically positioned to support grid resiliency and decarbonization in key energy markets amid strong regulatory and demand tailwinds. Carlyle has launched Revera Energy, an independent energy infrastructure platform focused on sustainable power solutions across Australia and the UK. The move is backed by Carlyle Global Infrastructure, reinforcing the firm’s $7.6B commitment to diversified global energy investments. Revera’s portfolio includes assets carved out from Amp…

Public-private partnership aims to boost clean energy investment through the North East Investment Zone (NEIZ) and green industrial clusters. Lloyds Banking Group commits to unlocking private capital for infrastructure, offshore wind, EV manufacturing, and supply chain growth. Initiative aligns with net-zero targets and regional economic development through high-value job creation in clean energy. Lloyds Banking Group, the Office for Investment (OFI), and North East Mayor Kim McGuinness have announced a strategic initiative to scale up green energy investment across North East England. Launched at UKREiiF, the collaboration aims to accelerate the region’s clean energy leadership and leverage its growing status…

Russia’s top oil producer, state-controlled Rosneft, has acquired the company that holds the license to operate and develop a giant rare earths deposit in Siberia, the largest such reserve in Russia and one of the world’s biggest.Rosneft has taken over control of Vostok Engineering, the company which holds the license for the Tomtor rare earth metals deposit in Yakutia, the Russian national companies registry showed on Wednesday.At the end of 2024, Russian President Vladimir Putin urged the Tomtor deposit to be developed, either by the then owner of the licenses, or with the help of third parties.“Those businesses that took…

Global delivery giant FedEx announced the purchase of more than three million gallons of blended sustainable aviation fuel (SAF) over one year from producer Neste, with the fuel to be used for cargo flights out of Los Angeles International Airport (LAX), marking FedEx’s first major U.S. SAF deployment. According to FedEx and Neste, the blended fuel will include a minimum of 30% neat SAF, and will account for roughly a fifth of all jet fuel consumed annually by FedEx at LAX. In 2021, FedEx announced a goal to achieve carbon neutrality in operations by 2040, allocating $2 billion in investments…

In an EBW Analytics Group report sent to Rigzone by the EBW team today, Eli Rubin, an energy analyst at the company, outlined that “oversold NYMEX natural gas trampoline[d]… higher” on Tuesday. The report pointed out that the June natural gas contract closed at $3.427 per million British thermal units (MMBtu) yesterday, and that this represented a 31.4¢, or 10.1 percent, increase. “The six sessions ending Monday saw a 68¢ (-18 percent) re-pricing of the June natural gas contract, with Monday’s low within 0.1¢ of the front-month’s closing low in late April,” Rubin noted in the report. “Yesterday’s rally, helped by…

Uber Freight is placing AI at the center of freight management, aiming to transform how shippers plan, execute, and optimize logistics. What’s RelatedWith the launch of its new AI-powered logistics network, Uber Freight says it’s moving beyond task automation to enable smarter decisions, faster execution, and better performance. The system is powered by a proprietary large language model trained on nearly $20 billion in freight data and integrated directly into the company’s transportation management system (TMS). “This is the inflection point we’ve been building toward,” said Lior Ron, Founder and CEO of Uber Freight. “We’re not just automating tasks—we’re enabling a new…