Author: omc_admin
Total diesel exports for September were also at five-year highs of nearly 3 million tons, Kpler shiptracking data showed.India’s diesel exports to Europe probably hit an all-time high in September, data from shiptrackers and trade sources showed on Thursday, as traders cashed in on robust profits in the west during a refinery maintenance season.September volumes from Asia’s key swing supplier bound for Europe were at 1.3 million to 1.4 million metric tons (9.7 million to 10.4 million barrels), data from LSEG, Kpler and two trade sources showed. Shiptracking data showed India’s exports to Europe reached these levels for the first…
In 2022, Elon Musk made a gamble that rattled his top engineers. The Tesla CEO scrapped the ultrasonic sensors that helped power the company’s self-driving technology, and its vehicles began relying entirely on cameras.No other self-driving car company had attempted anything like it. Complicating matters was the recent departure of Andrej Karpathy, Tesla’s director of AI at the time. That left Ashok Elluswamy, then Tesla’s head of Autopilot software, to carry out one of Musk’s biggest bets.Lewey Geselowitz, a former Autopilot engineer, said the team spent months training the software to run without the sensors. He recalled Elluswamy huddling inside…
Reform UK accused by minister of talking ‘utter nonsense’ after Zia Yusuf implies Starmer trying to get Farage killedGood morning. The Labour conference is over, the Conservative one starts on Sunday, but both parties have got significant policy announcements out today. For Labour, Keir Starmer is announcing government plans to tighten the conditions that apply to asylum seekers given the right to stay in the UK. Provocatively, he says: “There will be no golden ticket to settling in the UK, people will have to earn it.” Rajeev Syal has the story. For the Conservatives, Kemi Badenoch has said the Conservatives…
Alberta has proposed to build a new oil pipeline to the British Columbia coast that could carry up to 1 million barrels daily of crude oil, to be exported to Asian markets.The Calgary Herald reported the provincial government was ready to commit C$14 million to early planning for the project, with Premier Danielle Smith expressing hope the project could get federal approval as early as next month.Opposition, however, has been swift. The Premier of British Columbia said that “The problem that we have is Smith continues to advance a project that is taxpayer-funded, has no private sector proponent, is not…
Petroliam Nasional Berhad (Petronas) has launched the Center for Offshore Renewable Energy (CEFORE) with Universiti Malaysia Terengganu (UMT). Petronas said in a media release that the initiative represents one of the world’s first integrated models of offshore renewable energy sources with energy storage and management systems. A proof-of-concept facility off the coast of Kuala Terengganu aims to provide renewable power by utilizing offshore wind, solar, and wave energy, along with on-site energy storage. This model is a significant step toward Malaysia’s sustainable energy future, supporting the National Energy Transition Roadmap (NETR) and low-carbon initiatives, Petronas said. “Petronas places great emphasis…
The European Commission has unveiled a Team Europe package of EUR 545 million ($639.5 million) to accelerate Africa’s energy transition. “The choices Africa makes today are shaping the future of the entire world. A clean energy transition on the continent will create jobs, stability, growth, and the delivery of our global climate goals. The European Union, with the Global Gateway investment plan, is fully committed to supporting Africa on its clean energy path”, Ursula von der Leyen, European Commission president, said in a statement. Africa has vast renewable energy potential, but nearly 600 million people lack electricity, the Commission noted.…
Brazil’s government has extended renewable power utility Neoenergia SA’s license to operate in the northeastern coastal state of Pernambuco to 2060. “Neoenergia Pernambuco has just become the first electricity distributor in the country to obtain an early extension of its concession contract from the Ministry of Mines and Energy (MME)”, Neoenergia, part of Spanish electricity and gas utility Iberdrola SA, said in a statement on its website. “Five years in advance, the new contract guarantees the company the possibility of bringing forward investments of around BRL 6 billion until 2029, speeding up improvements to the electricity system and benefiting more…
The strong September performance has lifted cumulative sales growth this fiscal to 6.68 per cent for petrol and 2.9 per cent for diesel.Petrol and diesel sales rose in the country in September, fuelled by the onset of the festival season and higher vehicle sales, as per the provisional data from the Ministry of Petroleum and Natural Gas.Petrol sales climbed 7.5 per cent year-on-year in September, while diesel sales rose 6.27 per cent. According to The Economic Times report, the surge in transportation fuel demand comes after GST reductions and the start of festival-related travel. The strong September performance has lifted…
Board-level appointments at public sector enterprises are typically made based on recommendations from the Public Enterprises Selection Board (PESB), the government’s official headhunter.The Oil Ministry has invited applications for the post of chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), over six months after a search-cum-selection committee was constituted to identify a suitable candidate for the top job. The ministry in a post on its website invited applications for the top job at India’s second-largest state-owned refinery by October 21.”Selection shall be through a search-cum-selection committee,” it said. Board-level appointments at public sector enterprises are typically made based…
Group of Seven nations are closing in on an agreement to significantly increase sanctions on Russia over its continued war in Ukraine, according to a statement released after a finance ministers’ meeting on Wednesday. “We are aligned on the need to act together and believe that now is the time for a significant coordinated escalation of measures to bolster Ukraine’s resilience and critically impair Russia’s ability to wage war against Ukraine,” the statement said. G-7 nations – the US, as well as the UK, France, Germany, Italy, Japan and Canada – are working on a range of options, which include new measures on…