Author: omc_admin
The Green Claims Directive, a new proposed regulation aimed at protecting consumers from greenwashing claims about the environmental attributes of products and services, has not been withdrawn by the European Commission, according to a statement provided by a Commission spokesperson to ESG Today. The clarification followed an earlier statement from the Commission just prior to scheduled trilogue negotiations, which were subsequently cancelled, that it intended to pull the new regulation after it lost support of major political parties. Despite clarifying that the Directive has not been withdrawn, however, the spokesperson clarified that the Commission did intend to withdraw it if…
TotalEnergies SE said it has signed an agreement to acquire the 25 percent interest held by Spanish integrated energy firm Moeve, formerly known as CESPA, in Block 53 offshore Suriname. The interest is held by CEPSA Suriname S.L., an affiliate of Moeve. TotalEnergies will join APA, the operator of the license with a 45% interest, and Petrona, which owns 30 percent, the company said in a news release. Block 53 lies directly east of Block 58, where TotalEnergies and its partners announced a final investment decision for the GranMorgu development in October 2024. Block 53 contains the Baja-1 discovery, drilled…
Hedge funds dumped energy stocks last week, according to Goldman Sachs, which said the fall of oil prices as tensions eased in the Middle East spurred the second fastest exit in the last 10 years. The price of crude slumped by over $10 last week following a ceasefire between Israel and Iran, with prices slipping on Friday on reports of increased supply from oil-producing group OPEC+ and staying well under the recent peak of around $81 a barrel. Hedge funds, starting June 23, sold the stocks of energy-related companies across every major region, the Goldman note seen by Reuters…
MEXICO CITY (AP) — Tropical Storm Flossie strengthened off Mexico’s southwestern Pacific coast on Monday as the remnants of what was Tropical Storm Barry dumped rain on eastern Mexico.Flossie strengthened with maximum sustained winds of 60 mph (95 kph). It was centered about 160 miles (255 kilometers) south-southwest of Zihuatanejo and was moving northwest at 10 mph.Mexico’s government issued a tropical storm warning along the southwestern coast from Punta San Telmo to Playa Perula.A tropical storm watch remained in effect for the southwest coast from Zihuatanejo to Cabo Corrientes. A watch means tropical storm conditions are possible in the area…
Meta spent $14.3 billion to acquire nearly half of Scale AI and level up in the AI race — but the startup’s rivals spy an opportunity as well.Executives at five Scale AI competitors told Business Insider that they have seen a big uptick in client inquiries and job interest since the Meta deal was announced on June 13.Meta now holds a 49% stake in a company handling AI training data for many of its competitors, like Google, OpenAI, and xAI. In response, those three companies paused at least some of their work with Scale AI. Independence from Big Tech has…
In a release sent to Rigzone recently, Wood Mackenzie revealed that ExxonMobil was crowned the “most admired upstream explorer” in Wood Mackenzie’s latest Annual Exploration Summit Survey. “ExxonMobil’s win as the most admired explorer for 2025 is well deserved”, Andrew Latham at Wood Mackenzie, said in the release. “Based on its decade long exploration and development success in Guyana in particular, ExxonMobil has created almost $30 billion in value and already surpassed 700,000 barrels per day of new oil production,” he added. “The company has set a new benchmark in opening up a deepwater frontier at pace. Congratulations to John…
Biofuels producer EcoCeres announced today a new multi-year sustainable aviation fuel (SAF) transaction with British Airways, supplying the airline with SAF produced from waste-based biomass feedstock to help meet its sustainability goals. According to EcoCeres, the new agreement will enable British Airways to reduce fuel lifecycle carbon emissions by approximately 400,000 metric tonnes compared with conventional jet fuel, equivalent to the total emissions of flying around 240,000 economy class passengers on return flights between London and New York. Hong Kong-based EcoCeres is a biomass utilization biofuel and bioproducts platform, with products including SAF, hydrotreated vegetable oil (HVO), and renewable naphtha.…
New Delhi: India is set to lead global oil demand growth and significantly expand its renewable energy base to 500 GW, even as geopolitical uncertainty, shipping realignment and energy transition reshape global energy systems, according to S&P Global Commodity Insights.At a roundtable conference in Mumbai, experts from the firm highlighted oil market volatility, emerging trade and shipping patterns, and India’s role in global energy demand and decarbonisation.Premasish Das, Executive Director for Oil Markets Research and Analysis at S&P Global Commodity Insights, said global oil demand growth could slow from 1.2 million barrels per day (b/d) to 0.8 million b/d in…
The Swiss government announced a decision to pause the revision of its ordinance on climate disclosures for companies, delaying the implementation of new climate-related reporting rules for companies, including a requirement for companies to provide plans to align with Switzerland’s net zero by 2050 climate target. The delay of the new climate reporting rules comes primarily in response to the EU’s Omnibus process to simplify sustainability reporting and due diligence requirements for companies, with Switzerland’s Federal Council awaiting clarity on the outcome of the process to ensure regulatory alignment. Switzerland passed its initial Ordinance on Climate Disclosures in 2022, mandating…
The Swiss government announced a decision to pause the revision of its ordinance on climate disclosures for companies, delaying the implementation of new climate-related reporting rules for companies, including a requirement for companies to provide plans to align with Switzerland’s net zero by 2050 climate target. The delay of the new climate reporting rules comes primarily in response to the EU’s Omnibus process to simplify sustainability reporting and due diligence requirements for companies, with Switzerland’s Federal Council awaiting clarity on the outcome of the process to ensure regulatory alignment. Switzerland passed its initial Ordinance on Climate Disclosures in 2022, mandating…