Author: omc_admin

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…

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…