Author: omc_admin

Power semiconductor expert CISSOID and engineering specialist EDAG have joined forces to accelerate the development of next-generation Silicon Carbide (SiC) traction inverters. The partnership aims to provide OEMs with integrated, high-efficiency solutions for electric drivetrains. The agreement leverages CISSOID’s core expertise in SiC power modules and inverter control solutions, combined with EDAG’s in-depth experience in drivetrain system integration, thermal management, and validation. The two companies aim to provide electric mobility OEMs with end-to-end technical support, from initial concept design to complete vehicle integration. With the shift to 800V architectures and augmenting demand for more compact, high-efficiency systems, traction inverters are…

API President Mike Sommers Leaders from both the American Petroleum Institute (API) and National Ocean Industries Association (NOIA) issued statements Monday after the House Energy and Commerce Committee released its proposed markup of the 2025 tax reconciliation bill. The markup includes a 10-year pause of the EPA’s Waste Emissions Charge (WEC) established under the Inflation Reduction Act as well as innovative permitting solutions. “We applaud the House Energy and Commerce Committee for taking an important first step toward abolishing the ‘methane fee’ while also advancing important progress on permitting for infrastructure and U.S. LNG,” said Mike Sommers, President…

By: Sherry Madera, CEO of CDP Europe is at a crossroads. Now is the time to double down on climate action. In the long arc of history, progress rarely travels in a straight line. But in moments of crisis, retreat can carry profound consequences. Europe now finds itself at one of those moments. The European Union is showing signs of reversing course on environmental policy—just when it should be accelerating. The European Commission’s proposed Omnibus Simplification Package represents a significant weakening of green legislation, most notably a dramatic scaling back of the Corporate Sustainability Reporting Directive (CSRD). Far from a…

The United States and China reached a deal on Monday to suspend heavy tariffs against each other’s imports for 90 days. The recent breakthrough marked a detente in the tariff war launched by US President Donald Trump since he returned to office in January. While Trump initially unveiled tariffs against most countries, he then paused most of them – except against China, the US’s biggest economic rival. Tit-for-tat tariffs that the US and China imposed on each other had snowballed into heavy duties, as high as 145 percent on Chinese goods looking to enter the US, and 125 percent on…

Rudina Seseri can spot an “AI-native” company from a mile away.Before ChatGPT sounded the starting gun on the artificial intelligence revolution, Seseri, the cofounder and managing partner of Glasswing Ventures, was already writing the first checks to machine-learning startups, arguing that data-hungry algorithms would define the next era of software.In the current hype cycle, every tech startup is dedicating resources to AI. But that doesn’t mean the algorithms are doing the heavy lifting everywhere. Some teams grab an off-the-shelf model, wedge it into an otherwise ordinary software stack, and call it innovation. AI-native companies follow a fundamentally different blueprint. Their…

Eni SpA returned to the United States bond market with the launch Tuesday of an offering with a nominal amount of $1 billion. The 10-year bond, which matures 2035, has an annual interest of 5.75 percent. It was placed at a re-offer price of 99.184 percent. Eni tapped Barclays, BofA Securities, Citigroup, Goldman Sachs International, IMI-Intesa Sanpaolo, JP Morgan, Morgan Stanley, Natixis, Santander, SMBC and Wells Fargo Securities as joint bookrunners. “Eni’s offering generated significant interest from the market, reaching a demand of about $5.7 billion, from more than 200 institutional investors”, the Italian state-backed integrated energy company said in…

OPEC output is projected to rise by 411,000 barrels per day in May, with further increases expected into June. Saudi Aramco plans to maintain June shipments to China at 48 million barrels, holding steady from May. Elsewhere, Iraqi crude exports are expected to decline, and CPC Blend flows from the Black Sea are easing slightly. Mexico’s Pemex may cut overseas shipments as it redirects supply to domestic refineries, including the new Olmeca facility. Refined Fuels and Outages Offer Support JPMorgan analysts noted that even as global crude benchmarks have dropped 22% since mid-January, refining margins and product prices have remained…

U.S. retail egg prices fell in April from the record-high prices they hit earlier this year, according to government data released Tuesday.The average price for a dozen Grade A eggs declined to $5.12 last month after reaching a record $6.23 in March, according to the Consumer Price Index. It was the first month-to-month drop in egg prices since October 2024.Overall, the average price of eggs of all sizes fell 12.7%, the steepest monthly decline since March 1984. While wholesale egg prices have been coming down for a while, it was unclear how much store prices would decrease in April because…

Kolkata: Petrol and diesel prices witnessed a marginal hike in Kolkata following a readjustment in the basic price of fuel by oil marketing companies, officials said on Tuesday. This revision has pushed the petrol price in the city to ₹105.41 per litre and diesel to ₹92.02 per litre from May 12. “Petrol prices increased by 40 paise per litre, while diesel became costlier by 20 paise per litre. However, in contrast, Patna saw a 60 paise per litre dip in diesel prices, while fuel prices in other eastern states remained unchanged,” a leading oil marketing company official said. The basic…

Slowing global oil demand amid extreme uncertainty about the future of U.S. trade and a coming supply surplus are expected to hobble U.S. oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights. The latest update to the S&P Global Commodity Insights Global Crude Oil Markets Short-term Outlook—the first since the April 2 announcement of U.S. tariffs—now expects global oil (total liquids) demand growth to average 750,000 barrels per day (bpd) in 2025, a downward revision of 500,000 bpd from the…