Author: omc_admin

Operators of wind turbines in Scotland were paid to switch their turbines off 37% of the time over the first half of the year, the Financial Times has reported, an amount equal to 4 TWh that were not produced due to lack of demand and infrastructure to bring the electricity to where there was demand.The report noted that the amount curtailed from wind turbines in Scotland accounted for 86% of the total curtailment across Britain over the six months from January to June. It added that this represented a 15% increase on last year’s first-half curtailment.Curtailment is the term used…

Ukraine’s General Staff said it made a successful drone strike early Sunday on a major refinery in the Saratov region, the latest in a series of attacks this month on Russian oil facilities.  Earlier, the regional governor announced that UAVS from Ukraine hit an unspecified “industrial enterprise” in the region, about 530 miles (850 km) southeast of Moscow.   The drone activity also caused temporary flight delays at a local airport and at least one person was killed when drone debris fell in a residential area, the governor said.  Videos posted on Russian social media showed flames and clouds of…

Being a generalist is so in right now.”This was happening before AI, but it’s happening even more with AI,” Figma’s CEO Dylan Field said at a talk with Y Combinator published on Saturday. “There’s something about AI that empowers generalist behavior.”Field said that areas that were seen as distinct phases in the product development process are now merging.”Product is also blurring with design and development and potentially even parts of research,” he said. “All this is becoming less distinct, and it’s all kind of coming together more.”In what was seen as the hottest listing of the year, Figma went public…

Crude oil prices extended their losing streak from last month, opening lower today on expectations that the Friday meeting between the presidents of Russia and the United States would yield a deal resulting in more oil supply.At the time of writing, Brent crude was trading at $66.24 per barrel, with West Texas Intermediate at $63.43 per barrel, after booking a drop of some 4% last week, after the deadline President Trump had set for Russia to end the war in the Ukraine passed and no stricter sanctions were effected as threatened, ING’s commodity analysts said.Russia’s demands include the Ukrainian government…

Argent LNG has announced the launch of a strategic talent acquisition campaign aimed at assembling a world-class leadership team. This team will drive the development of Argent’s flagship LNG export terminal at Port Fourchon, positioning the company at the forefront of the global energy transition.  “We are more than an LNG developer — we are energy architects shaping a future where baseload power fuels growing economies and communities,” commented Jonathan Bass, CEO of Argent LNG. “Our goal is to deliver LNG with true impact to countries aligned with our values, building infrastructure that drives opportunity, stability, and sustainable…

PARIS (AP) — A blistering heatwave gripped southwest France on Monday, sending thermometers soaring to 43 degrees Celsius (109.4 Fahrenheit) in parts of the Charente and Aude. In Aude, a patchwork of vineyards and Mediterranean scrubland, hundreds of firefighters remained on the hillsides guarding the edges of a massive blaze that scorched 16,000 hectares last week. Officials say the flames are under control, but warn the fire will not be fully extinguished for weeks, with hot spots still smoldering.The national weather authority, Meteo-France, placed 12 departments on red alert, France’s highest heat warning, anticipating exceptional heat stretching from the Atlantic…

New Delhi: Petroleum and Natural Gas Minister Hardeep Singh Puri said on Sunday that India’s energy sector is rising through global uncertainty with the reforms that have been rolled out in the oil and gas sector.”While the world faces fuel volatility, India is moving ahead with reforms. Oil refining capacity in the country has increased from 215 to 258 million metric tonnes per annum (MMTPA), and Jamnagar is now Asia’s largest refinery, exporting petroleum products to 100+ countries,” the minister said in a post on X.Highlighting the reforms in the upstream oil & gas exploration and production segment, the minister…

Beijing: Oil prices fell in early Asian trading on Monday, extending declines of more than 4 per cent last week on higher U.S. tariffs on its trading partners, an OPEC output hike, and expectations the U.S. and Russia were moving closer to a Ukraine ceasefire pact.Brent crude futures fell 52 cents, or 0.78 per cent , to $66.07 a barrel by 0041 GMT, while U.S. West Texas Intermediate crude futures fell 58 cents to $63.30. Expectations have risen for a potential end to sanctions that have limited the supply of Russian oil to international markets, after U.S. President Donald Trump…

India should consider whether the cheap oil imports from Russia are ‘worth it’ after the Trump administration announced an additional 25 per cent tariff on Indian goods, Nobel laureate Abhijit Banerjee has said.Last week, US President Donald Trump signed an executive order, slapping an additional 25 per cent levy on India for New Delhi’s purchases of Russian oil, bringing the total duties to 50 per cent — among the highest imposed by the US on any country in the world.The additional 25 per cent duty will come into effect on August 27.”We need to think hard about whether Russian oil…

A sanctioned Dutch oil trader at the center of a dispute involving allegations of CIA ties, Russian crude shipments, and multimillion-dollar fraud has sued a prominent U.S. corporate intelligence firm for libel and slander – the latest twist in a saga that has captivated the commodities world.As reported by the Financial Times, Niels Troost – the only European trader sanctioned for dealing in Russian oil – filed a lawsuit in the Southern District of New York against the Arkin Group, a New York-based corporate intelligence consultancy founded by CIA veteran Jack Devine. Troost accuses the firm of working “with actual…