Author: omc_admin
While prices have so far absorbed the additional barrels, signs of softness are emerging. OPEC+ is close to an agreement in principle for another modest supply increase in November, overcoming differences between group leaders Saudi Arabia and Russia, according to delegates.Key members of the alliance expect to approve the restart of 137,000 barrels a day, matching the volume scheduled for October, the delegates said ahead of a video conference on Sunday. They asked not to be identified as the discussions are private.Russia — which had previously urged caution on supply hikes — favoured a smaller adjustment to support prices, while…
Ukraine has hit an oil terminal in Crimea, which has been occupied by Russia since 2014, the Ukrainian Army said on Monday. The Ukrainians also struck an explosives manufacturing plant in Dzerzhinsk, in the Nizhny Novgorod region in Russia. The Ukrainian army hit the Marine Oil Terminal in Feodosia, Crimea. A massive fire at the terminal erupted as a result of the successful hit, the army said on its Telegram channel. The Marine Oil Terminal is a trans-shipment complex for oil and oil products from railway tank cars to vessels and vice versa, and provides fuel to Russia’s army, the Ukrainian army said. Ukraine…
Welcome back! We’re a few weeks out from the launch of Joe Ciolli’s upcoming money newsletter, First Trade. Wondering what to expect? Look no further than Joe’s piece from this weekend, where he identified similarities between Taylor Swift’s career and the AI revolution.In today’s big story, the stock market is getting excited about a growing trend in tech, and it’s not the one you’re thinking of.What’s on deck:Markets: Check out our latest crop of rising stars of Wall Street.Tech: An AI companion love story.Business: What comes next for Diddy?But first, let’s get super technical.If this was forwarded to you, sign…
Deep Blue Midland Basin LLC has completed the acquisition of Environmental Disposal Systems LLC (EDS) from Diamondback Energy Inc, expanding its water management infrastructure for exploration and production companies in the Permian sub-basin. Midland, Texas-based oil and gas company Diamondback retains a 30 percent stake in Deep Blue, which it formed 2023 with Houston, Texas-based investor Five Point Infrastructure LLC, a joint statement said. “We’re excited to add EDS to our rapidly growing independent water infrastructure platform, the largest in the Midland Basin”, Deep Blue chief executive Scott Mitchell said in a company statement. “The integration of EDS will create…
Clean energy developer Shizen Energy announced three new 20-year renewable energy purchase agreements with Microsoft for solar power projects in Japan. The new announcement expands the executed renewable energy purchase deals between the companies to 100 MW across four solar projects, following an initial 25 MW agreement in 2023 for a project in Inuyama City, Microsoft’s first PPA in Japan. The solar power plants included in the new agreements are located in Japan’s Kyushu and Chugoku regions, including one that has already started operations, while the others are currently under construction. Shizen Energy noted that each of the projects have…
Polish battery metals producer Elemental Battery Metals has been awarded a grant of 1 billion zloty (€240 million) by the Polish government to construct a plant for recovering valuable metals from used batteries and other electronic waste.The grant was awarded by Poland’s development ministry through the European Union’s Temporary Crisis and Transition Framework (TCTF), a programme established to support the bloc’s shift to a net-zero economy following the outbreak of war in Ukraine.The funding will be used to construct a brand-new plant – adjacent to Elemental’s existing plant in Zawiercie – for recovering metals, the company told Notes from Poland.…
Ukraine and Russia traded drone strikes overnight, continuing a pattern of targeting energy infrastructure that left thousands without electricity. Around 22,000 people remain without electricity in the Kharkiv region of Ukraine after an overnight attack, Governor Oleh Synyehubov said on Telegram. Russian strikes also hit energy facilities in Ukraine’s Chernihiv region where teams are working to restore power, local authorities said on Monday. “There are currently partial power outages in 24 communities, affecting 5,400 residents,” Governor Vyacheslav Gladkov of Russia’s Belgorod region said Monday on Telegram. “Restoration work is ongoing,” said Gladkov, who earlier reported nearly 40,000 residents had lost…
Oil demand is projected to grow from 5.4 million barrels per day to 9.1 million bpd by 2050 while natural gas consumption more than doublesIndia’s oil demand will rise more than those of any other country through 2050 on the back of its fast growing economy, and will account for over 12 per cent of the global energy market, BP chief economist Spencer Dale said Monday. India is the world’s third-largest oil importing and consuming nation, and fourth-largest LNG importer.Its oil demand is projected to grow from 5.4 million barrels per day to 9.1 million bpd by 2050 while natural…
With X.Cellify DC, Dürr has developed a new kind of dry coating for electrodes: a free-standing film of active material is created that is 100% recyclable until it is laminated onto the collector foil. This significantly reduces active material waste. The proof of concept for the process shows that the technology works reliably and is scalable. This paves the way for pilot projects on a gigawatt scale – initially for lithium-ion batteries and, in the future, for solid-state batteries as well. Electrode production has so far relied almost exclusively on wet coating, in which the cathode and anode material is…
A deadly tornado that tore across southeastern North Dakota this summer has been upgraded to an EF5 with winds topping 200 mph (322 kph), the strongest classification of tornado and the first on American soil in a dozen years, meteorologists said Monday.The June 20 twister in Enderlin killed three people and caused significant damage. At its largest, the tornado was 1.05 miles wide (1.7 kilometers) and carved a path across the prairie for just over 12 miles (19 kilometers). Meteorologists from the National Weather Service office in Grand Forks estimated the tornado’s winds reached 210 mph (338 kph), according to…