Author: omc_admin

Policy aims to strengthen the country’s role in carbon markets and drive clean energy transition Designed to attract private sector investment in renewables and emissions-reduction projects Builds on international cooperation, including a 2024 carbon credit pact with Singapore The Philippines is preparing to introduce a Carbon Credit Policy for its energy sector, a move the Department of Energy (DOE) says will help the country access growing carbon markets while accelerating the shift to cleaner power. Undersecretary Felix William B. Fuentebella called the initiative a turning point. “This Carbon Credit Policy is a game-changer for the Philippine energy sector. It will…

Japan has pledged to buy more American energy products as part of the July trade deal with the United States, but no Japanese refinery is built to handle 100% U.S.-sourced crude, Japan’s refining industry says.In July, the U.S. completed what President Donald Trump touted on Truth Social as “a massive Deal with Japan, perhaps the largest Deal ever made.” Under the trade agreement, Japan’s goods imported in the United States will face a 15% tariff, lower than the 24% proposed in early April and the 25% tariff President Trump proposed in July with effect from August 1.The White House says the deal includes…

Marsh’s insurance solution enables Chestnut Carbon to secure a $210 million landmark financing deal. Microsoft commits to purchase 7 million tons of carbon removal credits to support its 2030 carbon-negative goal. Project to restore 60,000 acres in the Southern U.S. and plant 35 million biodiverse trees, backed by first-of-its-kind project financing in the voluntary carbon market. Marsh has placed a carbon credit insurance policy for Chestnut Carbon, a New York-based developer of nature-based carbon removal projects, helping secure a landmark $210 million non-recourse project finance facility led by J.P. Morgan. The policy, underwritten by London-based insurer CFC, protects against the…

2,743 are CNG buses — 993 under DTC and 1,750 under Cluster operators.Delhi is set to retire its entire fleet of compressed natural gas (CNG) buses by August 2031, with only electric buses being added to the city’s public transport system, the government informed Parliament on Monday, according to a report by TNN.Minister of State for Housing and Urban Affairs, Tokhan Sahu, citing details shared by the Delhi government, told the Rajya Sabha that the transition plan covers both Delhi Transport Corporation (DTC) and Cluster buses.Delhi currently operates 5,691 buses, including electric ones. Of these, 3,203 are run by the…

First-ever U.S. utility purchase of power from a next-generation nuclear reactor Hermes 2 Plant will deliver 50 MW of clean energy to TVA’s grid starting in 2030 Project expected to strengthen Oak Ridge’s nuclear legacy and create high-paying jobs In a landmark move for U.S. energy, Google has partnered with Kairos Power and the Tennessee Valley Authority (TVA) to advance the first deployment of Kairos Power’s advanced nuclear reactor — the Hermes 2 Plant in Oak Ridge, Tennessee. The power purchase agreement marks the first time a U.S. utility will buy electricity from a Generation IV nuclear reactor, delivering 50…

Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from cheap Russian oil imports during the war in Ukraine, describing the practice as “arbitrage” and condemning it as unacceptable.”They are just profiteering. They are reselling,” Bessent told CNBC’s “Squawk Box” in an interview. “This is what I would call the Indian arbitrage — buying cheap Russian oil, reselling it as product.””They’ve made $16 billion in excess profits — some of the richest families in India,” Bessent said.India buys Russian oil at a discount due to sanctions, refines it into gasoline and diesel, and then sells the product back to…

Talos Energy Inc. said it has appointed Zachary Dailey as the company’s CFO, effective Aug. 18. Talos has also appointed William Langin as executive vice president for exploration and development, effective Sept. 29, and promoted Megan Dick to the role of chief human resources officer, the company said in a news release. Dailey succeeds Gregory Babcock, who will step down as interim CFO. Babcock will continue to serve in his longstanding role as the company’s vice president and chief accounting officer, according to the release. Dailey joins Talos with over 17 years of oil and gas experience, most recently serving…

Choking smoke spewed by wildfires is far more dangerous than previously thought, a new study has found, with death tolls from short-term exposure to fine particulates underestimated by 93%.Researchers found that 535 people in Europe died on average each year between 2004 and 2022 as a result of breathing in the tiny toxic particles known as PM2.5 that are released when wildfires rage.Under standard methods, which assume PM2.5 from wildfires is as deadly as from other sources, such as traffic, they would have expected just 38 deaths a year.The study comes as wildfires ravage southern Europe, and new data from…

New Delhi: There is a potential for upside to Reliance Industries Ltd provided it operates at lower leverage and strengthens non-energy revenue streams, S&P Global Ratings said on Tuesday.S&P had last week raised the issuer credit ratings of Reliance as well as companies such as Oil and Natural Gas Corp (ONGC), NTPC and Tata Power to ‘BBB’ from ‘BBB-‘ following upgrade in India’s sovereign rating to ‘BBB/A-2’ from ‘BBB-/A-3’ on economic resilience and sustained fiscal consolidation. “There is a potential for upside in RIL’s rating. It is at ‘BBB+’… This (rating going up by a notch) would require stand alone…

Spotify’s ad business is floundering.”We have simply been moving too slowly,” CEO Daniel Ek said on the company’s latest earnings call.Spotify has said it wants advertising to make up 20% of its overall revenue. As of June, that figure stood at 11% — a share that has barely budged over time. Second-quarter ad revenue was down 0.7% versus the prior year, and media industry analyst Brian Wieser pondered in a recent note to clients whether it had plateaued.Chris Camacho, CEO of the ad agency Cheil UK, said cracks in Spotify’s ad business have been visible for some time. That contrasts…