Author: omc_admin

Aviva’s chief executive, Amanda Blanc, has reiterated the insurer’s commitment to climate goals in the face of growing pushback against net zero ambitions in the US and UK.On Thursday Aviva’s shares hit their highest level since the 2008 financial crisis, with investors cheering a rise in profits, and fresh payouts for investors worth 13.1p a share.Blanc told journalists that the insurer was not wavering on climate transition plans, which she said were an important step in responding to a further rise in extreme weather events affecting its insurance business.“We remain committed to our ambition,” she said on Thursday. “It’s also…

India’s state-owned refiners, which paused Russian crude buying a few weeks ago, have now started to inquire traders about potential purchases of the flagship Russian crude Urals, sources familiar with the development told Reuters on Thursday.The biggest Indian state-owned refiners have pulled out of spot purchases of Russian crude for cargoes loading in October, after the U.S. announced an additional 25% tariff on India over its imports of crude from Russia.U.S. President Donald Trump signed an executive order enacting an additional 25% tariff on Indian goods, explicitly targeting India’s ongoing imports of Russian crude oil. The overall 50% tariff on…

Brent crude rose 1.63% to $66.70 and WTI gained 1.74% to $63.74 on Thursday, as of 11:50 a.m. ET, with traders positioning ahead of a closely watched meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska. The talks, expected to touch on Arctic oil and gas development as well as the war in Ukraine, come as markets weigh the potential for new energy cooperation or geopolitical friction between two of the world’s top producers.Traders are watching for any indications of an easing of sanctions, which could unlock additional Russian crude and condensate for global markets, pressuring…

Image: Canadian Natural Resources (Bloomberg) — Canadian oil sands companies have found a way to ramp up production in the face of oil prices: curtailing lengthy repairs to equipment.  Canadian Natural Resources Ltd., Imperial Oil Ltd. and others are extending maintenance cycles to two-years from one, which saves on capital expenditure, increases output and effectively offsets declining profits from crude prices that have fallen 11% in the past year. Suncor Energy Inc., meanwhile, completed a major coke-drum replacement at its Base Plant more than 3 weeks faster than planned, allowing the company to cut capex guidance by C$400…

Canada’s major oil sands producers are boosting crude production even if they aren’t starting up new projects. The secret sauce appears to be reducing maintenance times and extending maintenance cycles to squeeze more oil and raise efficiencies, Bloomberg reports.Suncor Energy, for example, completed ahead of schedule a multi-year effort to replace eight coke drums at its Base Plant, extending the life of the facility’s Upgrader 1 by about 30 years.“Everything went flawlessly, resulting in the project being completed safely, coming in ahead of schedule and below budget,” Peter Zebedee, Executive Vice President – Oil Sands, said earlier this month.Two other…

There’s one word that strikes terror in the heart of a creative working on a MrBeast video: “cringe.”If the world’s top YouTuber calls a video or idea “cringe,” it’s likely dead in its tracks.MrBeast knows better than anyone what might spark a backlash among his millions of fans, a former staffer said. “If he doesn’t buy into it, it’s not going to work,” they said.MrBeast, whose real name is Jimmy Donaldson, is known for turning YouTube videos into eye-popping spectacles. The 27-year-old creator has buried himself alive, put hundreds of contestants through endurance challenges, and sent a train barreling into…

A group of 23 U.S. State Attorneys General*, led by Iowa AG Brenna Bird, published a letter sent to the Science Based Targets initiative (SBTi), demanding information about the organization and its members, citing concerns about potential violations of antitrust, consumer protection and other laws from participation in the net zero group. The AGs’ letter included a particular focus on the SBTi’s recently released Financial Institutions Net-Zero (FINZ) Standard, which it suggested formed an agreement to cut off funding and insurance to the oil and gas industry. The letter follows the launch earlier this month of an investigation into the…

Good morning. Travis Kelce scored the ultimate podcast guest last night in his girlfriend, Taylor Swift. During the nearly two-hour episode, the singer spoke about the Eras Tour, her Easter eggs, and her new album. More than 8 million people have already watched it — but if you’re not one of them, read BI’s seven big takeaways.In today’s big story, employees are treating ChatGPT like their new office besties. But there are risks, and some of their human coworkers feel weird about it.What’s on deck:Markets: Corporate bankruptcies are blowing past pandemic-era highs.Tech: One of AI’s hottest startups is seeking a…

The Texas Railroad Commission (RRC) revealed its latest preliminary crude oil and natural gas production figures in a statement posted on its site recently. The preliminary reported total volume of crude oil in Texas in May was 121,302,500 barrels, according to the statement, which showed that the preliminary reported total volume of natural gas in the state during the same month was 1.04 trillion cubic feet. The RRC noted in the statement that crude oil and natural gas production for May came from 159,047 oil wells and 83,808 gas wells. In its statement, the RRC highlighted that crude oil production…

The United States Department of Energy (DOE) has announced the first selections for a new pathway for the testing of advanced nuclear reactors. Last June, DOE opened application for testing such technologies outside of national laboratories using the federal authorization process. The program is called the Reactor Pilot Program. “DOE will work with industry on these 11 projects, with the goal to construct, operate and achieve criticality of at least three test reactors using the DOE authorization process by July 4, 2026”, the agency said in a statement on its website. “Today’s initial selections represent an important step toward streamlining…