Author: omc_admin

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…

Windsurf’s head of product engineering believes proficiency in three key areas makes a successful software engineer — coding, research, and “metalearning.”Technical fundamentals are first and foremost, Windsurf’s Kevin Hou said in a presentation at the AI Engineer World’s Fair in San Francisco.”If we zoom out and think about what makes you all software engineers successful, there are a couple of different categories. The first of which — coding-related. File reads, running terminal commands, seeing your history, even which tabs you have open inside of your editor. This all informs how to generate the correct code.”Following that, there’s knowing how to…

Eni SpA has inaugurated its first vegetable oil extraction plant in the Republic of the Congo, unlocking new feedstock capacity for its biorefineries. The facility in Loudima, in the southern part of the Central African country, can produce up to 30,000 metric tons a year of vegetable oil. The plant will use crops grown on “degraded and underutilized land or through intercropping systems, as part of an innovative regenerative agriculture project developed in collaboration with local stakeholders”, the Italian state-controlled energy major said in a press release. “With the launch of the Loudima agri-hub, the country takes on an active…

Can OPEC+ Production Plans Cap Recent Oil Prices Forecasts? Traders are pricing in OPEC+ production plans, with four delegates confirming the group is set to raise output by 411,000 barrels per day in August, following similar increases in May, June, and July. This will mark the fifth monthly boost since the group began unwinding cuts in April, keeping a lid on bullish sentiment and adding to short-term supply expectations. The upcoming July 6 OPEC+ meeting will be closely monitored for confirmation of these hikes, as traders weigh whether the group’s steady increases could challenge the recent monthly gains of over…

New Delhi: India’s oil demand will increase by 1 million barrels per day (mb/d) over the forecast period through 2030, more than any other country, driven by continued economic expansion and strong consumption of transport and industrial fuels, the International Energy Agency (IEA) said in its Oil 2025 report.The agency said India’s GDP is projected to grow at an average annual rate of 2.8 per cent in oil-equivalent terms. “India will remain the world’s fastest growing major economy in 2025 for a fourth year running and is projected to overtake Japan as the world’s fourth largest economy this year,” the…

Equinor ASA on Monday announced another discovery in the recently started-up Johan Castberg field on Norway’s side of the Barents Sea. The majority state-owned energy major put preliminary estimates for well 7720/7-DD-1H, or Drivis Tubaen, at 9-15 million barrels of oil. The discovery was drilled near the Drivis discoveries of 2014, according to a press release by Equinor. “The licensees will consider tie-in of the discovery to the Johan Castberg field”, said Equinor, which operates Johan Castberg with a 46.3 percent stake. The other developers are Eni SpA-backed Var Energi ASA with a 30 percent interest and state-owned Petoro AS…

The east coast of Australia is facing natural gas shortages earlier than previously expected, the country’s competition watchdog has warned, noting the market could swing into a deficit as early as the fourth quarter of this year.The government reacted to the report by saying it would consider setting up a „gas reservation” for the vulnerable states.“The east coast gas supply outlook for 2025 and 2026 has deteriorated despite an easing in gas prices in the second half of 2024,” the Australian Competition and Consumer Commission wrote today. Despite the decline, however, “prices continue to be higher than pre-2022 levels. Concerningly, supply…

Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed Executive Director on flagship Reliance Industries, will be paid ₹10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice.While the richest Asian’s all three children – twins Akash and Isha, and Anant – were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed Executive Director of Reliance Industries Ltd. As non-executive directors, the three were entitled to no…

PT Pertamina International Shipping (PIS) has reported $3.48 billion in revenue for 2024, up 4.4 percent from 2023. Profit grew 69.3 percent from $329.9 million in 2023 to $558.6 million in 2024. “This strong financial performance proves that the business transformation we have carried out is on the right path and affirms PIS’s position as one of Asia’s reputable maritime logistics companies. This business growth not only marks corporate advancement but also increases our contribution to national energy security”, PIS Corporate Secretary Muhammad Baron said. Throughout 2024, PIS transported 161 billion liters (42.5 billion gallons) of energy. It added 10…