Author: omc_admin
Saudi Arabia and the United States have signed agreements on cooperation on energy – including through refined oil products trading and artificial intelligence (AI) – and critical minerals. The memorandum of understanding (MOU) on energy collaboration and the memorandum of cooperation (MOC) on critical minerals were executed during Donald Trump’s visit to the kingdom, in which the U.S. president secured $600 billion in investment commitments from the Saudis. The MOU was signed between U.S. Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud while the MOC was signed by Wright and Saudi Industry and Mineral Resources Minister…
All the countries in the OPEC+ pact saw their combined crude oil production drop by 106,000 barrels per day (bpd) in April compared to March, despite the pledge of the eight OPEC+ producers who are withholding supply to begin easing their cuts.OPEC+ producers Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman have decided to begin raising production in April, for the first time since 2022.The figures in OPEC’s Monthly Oil Market Report (MOMR) published today suggest that the eight OPEC+ producers added fewer than 30,000 bpd to their collective supply in April, versus plans to add 138,000 bpd.Saudi…
EVs on track to surpass 20 million units sold in 2025, representing over 25% of global car sales. China dominates global EV production and demand, accounting for nearly half of 2024’s EV sales and exporting 1.25 million units. Affordability and operational savings driving adoption, with EVs cheaper to operate than gas vehicles even at low oil prices. Electric vehicles are on a fast track to capturing more than 40% of the global car market by 2030, according to the International Energy Agency’s (IEA) latest Global EV Outlook. The report reveals record-breaking growth in EV sales in 2024 and signals continued…
£165M fund opens monthly access to over 50 renewable projects across 15 countries First wave of SDR-labeled private market funds meeting top green investing standards Targets £20B in clean energy deployment by 2030, powering 2.4M+ homes annually Octopus Energy Generation, the fund management arm of Octopus Energy Group, has launched a flagship fund designed to make clean energy infrastructure accessible to private wealth and pension investors—without compromising on financial returns. The CG Octopus Energy Sustainable Growth Fund I (‘Astris’) opens doors to a diversified portfolio of over 50 renewable energy projects spanning 15 countries. Assets include wind, solar, and large-scale…
Centrus Energy is a “must-own” stock for any investor who wants to profit from the planned expansion of U.S. nuclear power to meet electricity demand from artificial intelligence data centers, according to Evercore ISI. Evercore initiated coverage of Centrus on Tuesday with the equivalent of a buy rating, giving it a 12-month price target of $145, implying upside of more than 50% from its Tuesday close at $92.57 per share. Centrus occupies a critical niche in the nuclear supply chain, Evercore analyst Nicholas Amicucci told clients in a note. Once the U.S. Enrichment Corp., an arm of the Energy Department…
On Monday, the United States and China reached an agreement to slash sky-high tariffs for 90 days. Though both sides claimed they could withstand a long trade war, they reached a truce quicker than many analysts expected. The breakthrough marked a dramatic ratcheting down of trade tensions following the tariff war launched by US President Donald Trump during his “liberation day” announcement on April 2. Trump initially unveiled so-called reciprocal tariffs on dozens of countries before pausing them just one week later. China, however, did not get off the hook and Beijing soon retaliated with tariffs of its own. Tit-for-tat exchanges…
Harbor offers corporate sustainability professionals a dedicated global platform for peer connection, policy updates, and strategic insight. Access to Harbor is free, with an optional premium tier (Harbor+) featuring exclusive sessions and ESG policy briefs. The platform addresses mounting ESG pressures by providing community support and expert guidance. Datamaran has launched Harbor, a global community platform exclusively for in-house corporate sustainability professionals. The platform offers peer engagement, expert insights, and regulatory updates tailored to ESG leaders navigating rising stakeholder expectations and evolving compliance demands. “Today’s sustainability leaders are driving change under intense scrutiny,” said Marjella Lecourt-Alma, CEO and co-founder of…
Lower upstream spending amid falling oil prices is set to slow the growth in oil supply from producers outside the OPEC+ pact this year and next, OPEC said in its monthly report on Wednesday.Liquids supply from OPEC+’s rivals – including the United States – is set to increase by 800,000 barrels per day (bpd) in 2025, down by 100,000 bpd compared to OPEC’s assessment of 900,000-bpd growth last month.In 2026, liquids supply from non-OPEC+ producers is expected to rise by another 800,000 bpd, also down by 100,000 bpd from last month’s assessment, OPEC said in its Monthly Oil Market Report…
Middle East, Africa, and South Asia (MEASA)-focused financial hub Dubai International Financial Center (DIFC) announced the launch of the “1 Million Learners” initiative, aimed at helping to build a skilled workforce “capable of driving sustainable economic growth,” and with a goal of equipping one million individuals with knowledge in sustainability and sustainable finance by 2030. The program seeks to redefine how sustainability education is delivered at scale, equipping a new generation of professionals with the knowledge to drive meaningful change, DIFC said, adding that it seeks to ensure that the 1 Million Learners initiative achieves scale while delivering meaningful benefits…
Hapag-Lloyd, the world’s fifth-largest container shipping company, says business is booming this week as shipping demand between China and the U.S. takes off again. What’s Related“The last couple of days we see a huge surge of volume and now we need to see how long that lasts,” CEO Rolf Habben Jansen told Bloomberg Television on Wednesday. Jansen said that bookings between China and the U.S. have been up more than 50% in recent weeks. He called it a “pretty significant” increase and said other global trade lanes remain steady for now. The boost follows a newly announced 90-day truce between…