Author: omc_admin

Israeli natural gas flows to Egypt returned to normal levels after a truce with Iran allowed the Jewish state to reopen facilities shuttered by the 12-day conflict. Daily exports have climbed to 1 billion cubic feet per day, according to two people with direct knowledge of the situation. That’s up from 260 million cubic feet when Israel’s Leviathan gas field, the country’s biggest, restarted on Wednesday, they said, declining to be identified because they’re not authorized to speak to the media.  The increased flows have let Egyptian authorities resume supplies to some factories that had been halted because of the…

LONDON (AP) — Wimbledon players and spectators were hit by record-breaking Day 1 heat as the temperature rose to 91 degrees Fahrenheit — 33 Celsius — at the oldest Grand Slam tournament on Monday.“For sure, you feel like the sun is getting closer and closer every minute that passes by,” said Adrian Mannarino, a 37-year-old Frenchman who frequently sprayed his shaved head with sunscreen at changeovers during his first-round victory. “I was struggling a little more than usual.”The 2001 fortnight had the previous hottest opening day at the All England Club, reaching 85 degrees F (29.3 degrees C).“I feel like…

ANKARA, Turkey (AP) — Forest fires fanned by high winds and hot, dry weather damaged some holiday homes in Turkey as a lingering heat wave covering much of Europe led authorities to raise warnings and tourists to find ways to beat the heat on Monday. A heat dome hovered over France, Portugal and Spain to Turkey, while data from European forecasters suggested other countries were set to broil further in coming days. Heat warnings were issued for parts of Spain, Portugal, Italy, Germany, and the U.K., with new highs expected on Wednesday before rain is forecast to bring respite to…

A leading UN expert is calling for criminal penalties against those peddling disinformation about the climate crisis and a total ban on fossil fuel industry lobbying and advertising, as part of a radical shake-up to safeguard human rights and curtail planetary catastrophe.Elisa Morgera, the UN special rapporteur on human rights and climate change who presents her damning new report to the general assembly in Geneva on Monday, argues that the US, UK, Canada, Australia and other wealthy fossil fuel nations are legally obliged under international law to fully phase out oil, gas and coal by 2030 – and compensate communities…

(WO) — SLB’s OneSubsea joint venture has secured an engineering, procurement and construction contract from Equinor to deliver the subsea CO₂ injection system for phase two of the Northern Lights project offshore Norway. The scope covers two new satellite injection units and tie-in equipment, with first hardware deliveries slated for 2026. OneSubsea supplied two similar systems for phase one, completed in 2023. Northern Lights, owned by TotalEnergies, Shell and Equinor, aims to create the world’s first open-access CO₂ transport and storage chain. Phase two will raise capacity from 1.5 million to a minimum of 5 million tpy and…

The logo of British oil major BP.Sopa Images | Lightrocket | Getty ImagesFor weeks, market tongues have been wagging about a potential merger between Britain’s oil giants — until, ending weeks of speculation, Shell on Thursday denied reports that it’s in talks to acquire BP.But how did we get to the point that BP, a U.K. oil exploration company that was founded in 1909 under the name Anglo-Persian Oil Company, is now seen as a possible takeover target for its long time rival?The resetBack in 2020, under the guidance of then newly appointed CEO Bernard Looney, BP announced it would embark…

Seoul residents are grappling with an invasion of so-called “lovebugs” that have swarmed hiking trails and urban areas across the South Korean capital, with experts debating how to handle the infestations that are surging as the climate crisis draws them further north.Viral footage shared on social media shows Gyeyangsan mountain in Incheon, west of Seoul, with hiking trails and observation decks carpeted black with the insects.The bugs, officially called Plecia longiforceps, earned their nickname from their distinctive mating behaviour, flying attached as couples during copulation. Males die after three to four days, while females live about a week, laying hundreds…

PESHAWAR, Pakistan (AP) — Nearly a week of heavy monsoon rains and flash floods across Pakistan have killed at least 46 people and injured dozens as continuing severe weather similar to past emergenicies remains possible, officials said Monday.The fatalities caused by abnormally strong downpours since Tuesday include 22 in Khyber Pakhtunkhwa, 13 in eastern Punjab province, seven in southern Sindh and four in southwestern Balochistan, National Disaster Management Authority and provincial emergency officials said.“We are expecting above-normal rains during the monsoon season and alerts have been issued to the concerned authorities to take precautionary measures,” said Irfan Virk, a Pakistan…

Oil prices fell 1 per cent on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August boosted the supply outlook.Brent crude futures fell 66 cents, or 0.97 per cent, to $67.11 a barrel by 0031 GMT, ahead of the August contract’s expiry later on Monday. The more active September contract was at $65.97, down 83 cents. US West Texas Intermediate crude dropped 94 cents, or 1.43 per cent, to $64.58 a barrel.Last week, both benchmarks posted their biggest weekly decline since March 2023, but they are set to…

(Bloomberg) — Aliko Dangote, Africa’s richest person, plans a stock listing for his Nigerian crude oil refinery by the end of next year to widen the company’s investor base. The billionaire also plans this year to list the group’s urea plant, which has a capacity to produce 2.8 million tons of the crop nutrient per annum, Dangote told the African Export-Import Bank’s annual general meeting in Nigeria’s capital, Abuja, on June 27.  The oil facility can processes 650,000 barrels of crude a day, making it the continent’s biggest refinery. Nigeria’s downstream regulator and fuel marketers have accused Dangote…