Author: omc_admin

Alternative asset manager Patria Investments announced the launch of Omnia, a new platform aimed at developing, building and operating large-scale data centers across Latin America, fully powered by green, renewable energy. Patria said that the new platform will initially focus on 100+ MW campus projects, tailored to high-density AI workloads, with expected investments above $1 billion. The launch of the new platform comes as demand for sustainability in data centers is growing, as the rapid growth of AI threatens to challenge global carbon emissions reduction efforts. The IEA estimates that AI-driven data center power usage could double by 2026 and expand rapidly over…

The climate crisis has raised the price of commodities and exacerbated famine – and only strong action on greenhouse gas emissions can restore economic stability, the UN’s climate chief has said.Simon Stiell, the executive secretary of the UN framework convention on climate change, was speaking in Panama, where recent years of drought drove the water to perilous lows that disrupted international trade.He said: “The same droughts that plague the canal are affecting essential commodities worldwide, reducing harvests, emptying shelves, and pushing people into hunger. Famine is back, and the role of global heating cannot be ignored.”But he said investors around…

U.S. shale production will likely plateau if WTI oil prices remain in the low $60s per barrel, and decline at prices in the $50s, ConocoPhillips chairman and CEO Ryan Lance said at the Qatar Economic Forum on Tuesday.“The breakeven probably hasn’t moved a lot,” Lance said in Doha, commenting on the breakeven for U.S. shale firms to profitably drill a new well.Executives said in the Dallas Fed Energy Survey in Q1 indicated that their companies need an average $65 per barrel to profitably drill a new well.Commenting on oil prices and shale output, ConocoPhillips’ Lance told the forum in Doha,“I think…

Vistra Corp. has signed a definitive agreement to buy seven natural gas-fired generation facilities spread across different states from Lotus Infrastructure Partners for $1.9 billion. The acquisition consists of five combined-cycle gas turbine plants and two combustion turbine plants in California, Delaware, New York, Pennsylvania and Rhode Island, “further geographically diversifying Vistra’s natural gas fleet”, Vistra said in an online statement. The plants have a combined capacity of 2,557 megawatts (MW). The biggest of them is the Fairless plant in Pennsylvania, which produces up to 1,320 MW. The transaction price translates to $743 per kilowatt, subject to net working capital…

ABS issued an approval in principle (AIP) to Samsung Heavy Industries (SHI) for its design of a multi-purpose liquefied natural gas (LNG) floating facility for deep water. Called MLF-O, the next-generation design from SHI optimizes the production facility for deepwater areas with a wave height of nine meters. According to SHI, the design has the advantage of providing faster delivery and cost-effective efficiency compared to onshore plants. ABS completed design reviews based on class and statutory requirements. The MLF-O is designed to minimize internal shock from sloshing by configuring the cargo hold in two rows. By standardizing the…

TDI-Brooks has recently finalized a geological evaluation in the Gulf of America/Gulf of Mexico on behalf of Enbridge. For this project, TDI-Brooks utilized the R/V BROOKS MCCALL, executing 38 piston cores (PC), 7 gravity cone penetration tests (gCPTs), and 82 box cores (BC). TDI-Brooks geotechnical tool set onboard the BMCC consisting of piston, 20-m jumbo piston and box cores, 40-m CPT-Stingers and 40-m Stinger-Sampler TDI-Brooks has conducted previous geotechnical projects for Enbridge in the Gulf of America/Gulf of Mexico. All samples gathered will be examined at TDI-Brooks’ Geotechnical Laboratory located in College Station, Texas. TDI-Brooks has engaged GEMS/Geosyntec…

There were three drivers to yesterday’s U.S. natural gas price pullback, Art Hogan, Chief Market Strategist at B. Riley Wealth, told Rigzone in an exclusive interview on Tuesday. “Weather forecasts maintained mild conditions. The threat of re-escalating tariffs on U.S. trading partners stood as a further demand-side risk, while production remained steady,” Hogan said. Rigzone contacted the White House for comment on Hogan’s statement. At the time of writing, the White House has not responded to Rigzone with a comment. In a separate exclusive interview today, Phil Flynn, a senior market analyst at the PRICE Futures Group, said “shoulder season is on…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A fifth of Shell’s shareholders have cast doubt on its strategy to become the world’s biggest supplier and trader of gas and LNG, questioning whether it makes sense from an economic or climate perspective. Wael Sawan, chief executive of the UK-listed energy major, told shareholders at the company’s annual general meeting on Tuesday that “over the coming decade, we want to be the leading integrated gas and LNG player”. He added that Shell’s focus on gas would be its biggest contribution to the…

AutoStore has passed 300 warehouse installations in North America, with its latest system going live at Medline’s new site in Aurora, Colorado. The project, completed with longtime partner Swisslog, marks a full-circle moment—Medline was AutoStore’s first U.S. customer over a decade ago. What’s RelatedToday, Medline runs more than 20 AutoStore systems across the country, using 1,900 robots to fill orders quickly and support next-day delivery to 95% of its U.S. customers. “Every AutoStore system is more than a warehouse upgrade; it’s a high-throughput advantage,” said Keith White, Chief Commercial Officer at AutoStore. “We are a promise that businesses can move…

Saudi Arabia’s goal is long-term oil market stability, while the Kingdom is always ready for multiple oil price scenarios, Saudi Minister of Economy and Planning, Faisal Alibrahim, said on Tuesday.“We’re always ready for scenarios – multiple scenarios, and we have buffers,” Alibrahim said at the Qatar Economic Forum in Doha.“We have the long-term fiscal planning and medium-term frameworks that help us adjust depending on what scenario actually plays out,” the Saudi official added.On the energy markets and oil, Saudi Arabia has always looked at the long game of long-term market stability, which allows for investments in adequate supply to meet…