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Tudor advances its environmental and social sustainability goals with an expanded 2025 program. The Swiss watchmaker builds on its inaugural 2024 sustainability report to deepen ESG integration. Branding choices, such as the use of Flamingo Blue, symbolize Tudor’s long-term commitment to responsible production. Tudor is reinforcing its commitment to sustainability in 2025, expanding the environmental and social goals outlined in its first-ever sustainability report released last year. The 2024 report marked a strategic pivot for the Swiss watchmaker, detailing its early actions toward becoming “a force for good” in responsible watch production. With this momentum, Tudor is now evolving its…
Biofuels in focus: Eni and BMW will collaborate on the use of HVO biofuel in diesel engines, offering an immediate decarbonization solution. EV infrastructure boost: The partnership includes plans to expand BMW’s charging network via Plenitude’s On The Road hubs. Tech-neutral transition: The alliance emphasizes a multi-solution approach to support emissions targets in road transport. Eni and BMW Italia have signed a Letter of Intent to jointly accelerate the decarbonization of road transport through biofuels and electric mobility infrastructure. The partnership centers on Hydrotreated Vegetable Oil (HVO), a biofuel produced by Eni’s subsidiary Enilive from 100% renewable raw materials. Pure…
The European Council and Parliament have reached a provisional agreement on a proposal by the European Commission to extend a regulation requiring that natural gas storage facilities be at least 90 percent full before the winter season. The Gas Storage Regulation was adopted June 2022 at the height of the energy crisis as a cushion against shortages. It will expire at the end of 2025. The proposal seeks to extend it to 2027. “The agreement keeps the existing binding target of 90 percent of gas storage but provides flexibility to reach it anytime between 1 October and 1 December instead of…
Glenfarne Alaska LNG LLC said that Thailand’s PTT Public Company Limited has signed a cooperation agreement for strategic participation in the Alaska LNG project. The cooperation agreement defines the process for Alaska LNG and PTT to move toward definitive agreements for partnership on Alaska LNG, including long-term liquefied natural gas (LNG) offtake. The agreement includes the potential procurement of 2 million metric tons per annum (mtpa) of LNG from Alaska LNG over a 20-year term, Glenfarne said in a statement. “Glenfarne and Alaska LNG are pleased that PTT and the Thai government have realized the strategic security, cost, and stability…
At 11:38 GMT, Light Crude Oil Futures are trading $65.54, up $0.30 or +0.46%. OPEC+ Meeting in Focus as Geopolitical Premiums Fade Oil prices are on track for their steepest weekly decline in over two years, falling around 12%, as markets discount the risk premium tied to the Iran-Israel conflict following last week’s ceasefire. Brent, which briefly topped $80 per barrel during the conflict, has retreated sharply to $67 as traders pivot back to supply-demand fundamentals. Attention now shifts to the upcoming OPEC+ meeting on July 6, where members will decide on August production targets. Analysts at Rystad Energy highlight…
In its latest gasoline fuel update, which was released this week, the U.S. Energy Information Administration (EIA) showed an increasing price trend for U.S. regular gasoline. The update highlighted that the U.S. regular gasoline price averaged $3.108 per gallon on June 9, $3.139 per gallon on June 16, and $3.213 per gallon on June 23. The June 23 price was $0.225 less than the year ago price, the update outlined. Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest regular gasoline price as of…
4-Louise Composite: AP / Guardian DesignFor more than 20 years, Louise Sime has worked at the British Antarctic Survey specialising in polar climate dynamics. She uses ice cores to reconstruct past conditions and predict future changes. She now leads several international Earth modelling projects.Why are the Arctic and Antarctic regions important for the rest of the world?They are one of the pillars of global climate stability, a giant store of frozen water, an essential “biotic pump” that helps to store carbon, and an albedo shield that reflects much of the sun’s light and heat back out to space.Louise Sime says…
Vietnam Oil and Gas Group (Petrovietnam) and its joint venture partners have signed a product sharing contract (PSC) for Block 15-1 on the southern continental shelf of Vietnam. When completed, the project will supply 125 billion standard cubic feet (Bcf) per day of natural gas to the domestic market, Petrovietnam said in a news release. Under the PSC, Petrovietnam subsidiary Oil and Gas Exploration and Production Corporation (PVEP) holds 59 percent in the asset, Perenco holds 19.8 percent, Korea National Oil Corporation (KNOC) holds 11.4 percent, SK Group holds 7.2 percent, and Geopetrol holds 2.6 percent. The project will be…
The Singapore Business Federation (SBF), Singapore’s key business association representing over 32,000 companies, announced the release of a statement today, asking regulators to delay climate-related disclosure requirements for smaller companies, set to begin from this year, by one to two years, to give businesses more time to prepare. The statement follows the announcement early last year by the government of Singapore that it will implement mandatory climate-related reporting requirements for listed and large non-listed companies. Alongside the government’s announcement, markets regulator SGX RegCo released requirements for SGX-listed issuers to begin filing annual climate-related disclosures aligned with the standards issued by…
Israeli authorities have allowed the Chevron Corp.-operated Leviathan natural gas and condensate field to restart production, after ordering a pause about two weeks ago amid Israel’s exchange of attacks with Iran. The Leviathan consortium had invoked a force majeure after the Energy and Infrastructures Ministry, acting on a “security recommendation”, asked that production at the field be temporarily halted, according to NewMed Energy LP, one of the consortium partners. NewMed Energy has now said that order had been lifted. It said it intends to seek state compensation for losses. “According to the Partnership’s [NewMed Energy] initial estimate, based, inter alia,…