Author: omc_admin
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…
A new truck charging service for MAN eTruck drivers is now available to the public at charging sites across Europe. Around 650 eTruck standard-ready locations are currently open, with this set to rise to 1000 by the end of 2025. In essence, MAN Charge&Go makes it easier to find truck-compatible charging points and also enables easy payments using a dedicated charging card. It helps drivers find locations with the MAN eTruck ready standard, which ensures charging points comply with manoeuverability, height, and weight restrictions. This is via a digital map interface which shows truck charging points that comply either with…
Britain on Friday announced a 1 billion pound ($1.33 billion)funding deal for a new AESC gigafactory which will manufacture electric vehicle batteries. Japanese-headquartered battery maker AESC will build the facility in Sunderland, northern England. The government said it would provide batteries for up to 100,000 EVs per year – a six-fold increase on current capacity. “We are going further and faster to boost our industries’ resilience and encourage their growth,” finance minister Rachel Reeves said in a statement. ““This investment in Sunderland will not only further innovation and accelerate our move to more sustainable transport, but…
Nissan has cancelled its plans for an LFP battery plant in Kitakyushu, Japan. The financially troubled carmaker says its decision was made as it takes “immediate turnaround actions” and explores “all options to recover its performance.” “After careful consideration of (the) investment efficiency, we have decided to cancel the construction of a new LFP battery plant in Kitakyushu City, Fukuoka Prefecture,” Nissan has stated. Reuters reported the statement as an indication of the company’s willingness to scale back its domestic market ambitions. The Japanese carmaker has already reduced its activities in China and North America. The carmaker’s new CEO, Ivan…
Oil prices are on track to post a weekly gain amid expectations that the first U.S. trade deal post-tariffs, with the UK, could be a good sign of thaw in the tense trade relations ahead of the U.S.-China talks this weekend.As of 9:45 a.m. EDT on Friday, the front-month U.S. benchmark futures, WTI Crude, were up by 0.92% at $60.42. The international benchmark, Brent Crude, was rising by 0.80% at $63.31.After posting a weekly loss last week, oil was on track early on Friday for a weekly gain this week, after the U.S. and the UK announced on Thursday a…
The U.S. is proposing that the Task Force on Climate-related Financial Risks (TFCR) at the Basel Committee on Banking Supervision (BCBS) be downgraded to a working group, the Financial Times reported on Friday, citing sources briefed on the matter.The Basel Committee is the top global regulator of the banking sector, and its 45 members comprise central banks and bank supervisors from 28 jurisdictions. For the United States, the representatives on the committee are four institutions – the Fed, the Federal Reserve Bank of New York, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.In a…
$3B Investment: Coal India to deploy ₹250B (~$3B) in 4.5 GW of solar and wind projects to support India’s green transition. Strategic Partnership: Renewable energy to power AM Green’s 5 MTPA green ammonia plants; MoU signed for long-term supply. Dual Approach: Coal India scales clean energy alongside India’s 80 GW coal capacity expansion, amid growing power demand. Coal India Ltd. announced a bold pivot towards clean energy with plans to install approximately 4.5 gigawatts of renewable power—primarily solar and wind—at an estimated cost of ₹250 billion (around $3 billion). The initiative is part of the company’s strategy to offset emissions…
Pioneering Standard Compliance: Iberdrola becomes the first global issuer to align a green bond with both the EU Green Bond Standard (EU GBS) and ICMA Green Bond Principles. Strong Market Demand: The €750M issuance attracted over €3.7B in demand—five times the offer—enabling a 3.5% coupon with a negative premium. Investor Confidence in ESG Strategy: 93% of participating investors were ESG-focused, validating Iberdrola’s sustainability-led growth and financial resilience. Iberdrola has achieved a global first, issuing a €750 million green bond that complies with both the newly introduced EU Green Bond Standard (EU GBS) and the International Capital Market Association (ICMA) Green…