Author: omc_admin

On May 7-9, 2025, Hithium presented its full-scenario energy storage product portfolio at The smarter E Europe and officially launched the ∞Power 6.25MWh 2h/4h BESS EU Version, a system custom-designed for the European market.Featuring five key attributes—superior safety, high compatibility, easy maintenance, cost-effectiveness, and eco-friendliness—the system breaks through multiple constraints in capacity, scenarios, and environmental standards, empowering Europe’s transition toward low-carbon, sustainable energy. At the event, Hithium also signed a Memorandum of Understanding with Spanish venture capital management company GCRPV to pursue full-chain collaboration across the energy storage industry. This partnership marks a pivotal step forward in Hithium’s strategy for localized…

ConocoPhillips has divested non-core assets in the United States Lower 48 including stakes in the Ursa and Europa fields for $1.3 billion year-to-date, according to its quarterly results published Thursday. These count toward a divestiture goal of $2 billion that the oil and gas major earlier said it expects to complete in the first half of 2025. The completed portion consisted of around $600 million of deals reached at year-end 2024 plus the Ursa and Europa sales, completed this month with a price of about $700 million. ConocoPhillips sold its 15.96 percent stake in Ursa and 1 percent interest in…

A part of Northvolt’s German division has applied for restructuring, a spokesperson for the insolvent Swedish battery cell maker said on Friday, confirming a report in weekly magazine Der Spiegel. The affected division is Northvolt Germany TopCo GmbH while the entity in charge of building Northvolt’s German plant in Heide is still running, with construction still ongoing, the spokesperson said. Germany’s former Economy Minister Robert Habeck earlier this year said he was hopeful that new investors for the Heide plant would be found.Northvolt in March filed for bankruptcy in Sweden, marking one of the country’s largest…

DS Automobiles delivered a new vehicle, the Presidential DS No.8, to the French President for the 80th anniversary of VE Day. It’s the first time a president of a republic has had a fully electric official state vehicle. The PRESIDENTIAL DS No. 8 is DS Automobile’s new electric flagship, and was driven to the Paris Armistice celebrations in the vehicle yesterday, May 8. The armoured vehicle was created especially for the Presidency of the French Republic, and was modified in several ways by the brand. It has a regal-looking Sapphire Blue paintjob with black-painted quarter panels and an illuminated grill…

Sunwoda NoahX 3.0 6.528MWh Liquid-Cooling ESS Launched Sunwoda Energy made a significant impact at EES Europe 2025, Europe’s largest and most international exhibition for batteries and energy storage systems, by unveiling several groundbreaking innovations.These included the launch of its 6.528MWh liquid cooling energy storage system powered by Sunwoda’s advanced 625Ah high-capacity battery cells and a 179kWh C&I ESS. The company also presented fully integrated energy storage solutions, covering the entire value chain—from battery cells and packs to integrated systems, reinforcing its commitment to advancing high-capacity battery technology for a sustainable future. Sunwoda Energy’s Groundbreaking ESS Innovations At the heart of…

The U.S. Energy Information Administration (EIA) lowered its West Texas Intermediate (WTI) spot average price forecasts for 2025 and 2026 in its latest short term energy outlook (STEO), which was released on May 6. According to that STEO, the EIA now sees the WTI spot price averaging $61.81 per barrel this year and $55.24 per barrel next year. In its previous STEO, which was released in April, the EIA projected that the WTI spot price would average $63.88 per barrel in 2025 and $57.48 per barrel in 2026. Both STEOs highlighted that the WTI spot price came in at $76.60…

US President Donald Trump (R) and Saudi Deputy Crown Prince Mohammad bin Salman al-Saud take part in a bilateral meeting at a hotel in Riyadh on May 20, 2017.Mandel Ngan | AFP | Getty ImagesDUBAI, United Arab Emirates — U.S. President Donald Trump will touch down in the Persian Gulf region – or as he may soon be calling it, the Arabian Gulf – on May 13, for an official trip with stops in Saudi Arabia, Qatar and the United Arab Emirates. The stakes are high, as the visits take place amid turbulent geopolitical tensions. On the agenda will be Israel-Gaza…

Occidental Petroleum Corp. divested non-core proved and unproved royalty and mineral stakes in the DJ Basin for about $900 million and certain non-core Permian Basin assets for around $400 million in the first quarter (Q1), the hydrocarbons and chemicals producer said in its quarterly report. To keep debt manageable, Houston, Texas-based Occidental launched a $4.5 billion-$6 billion asset sale program when it announced its merger with CrownRock LP late 2023. Occidental completed its $12.4 billion purchase of CrownRock in Q3 2024. Occidental said in its annual report for 2024 it had achieved its near-term debt repayment goal of $4.5 billion in Q4…

Panasonic Holdings said on Friday it will cut 10,000 staff and expects to book restructuring costs of 130 billion yen ($896.06 million) this business year as part of an overhaul of the company.The electronics manufacturer will make the staff cuts mainly in the current business year, with half of them planned for Japan and the other half for overseas, it said in a statement.The cuts will come through consolidation of sales and indirect operations as well as sites, business terminations and employees in Japan taking early retirement, it said.Panasonic has around 228,000 staff worldwide, according to…

Battery management software provider Breathe Battery Technologies announced that it has raised $21 million in a Series B financing round, as the company launches a suite of battery simulation software, embedded software and battery services. Spun out of Imperial College in 2019, London-based Breathe provides tools aimed at enabling the design, validation and optimization of better batteries, including physics-based simulation and embedded software products encompassing the full battery development lifecycle. Alongside the capital raise, Breathe announced the launch of three new products, including Breathe Model, an advanced cell simulator software solution enabling high-level simulations based on physics-based electrochemical and thermal…