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Baker Hughes Posts $402MM Q1 Profit

Baker Hughes Co. has reported $402 million in net income for the first quarter (Q1), down $777 million from the prior three-month period and $53 million against Q1 2024. Net earnings adjusted for nonrecurring or extraordinary items fell 27 percent quarter-on-quarter but rose 19 percent year-on-year to $509 million, or 51 cents per share. Adjustments totaled $108 million. The adjusted figure beat the average estimate of 47 cents from analysts surveyed by Zacks. The Houston, Texas-based oilfield and energy tech heavyweight closed higher at $38.36 on Nasdaq on results day. Meanwhile Baker Hughes’ adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 21 percent sequentially but grew 10 percent year-over-year to $1.04 billion. Adjustments totaled $140 million. The quarter-on-quarter decline in adjusted net income and adjusted EBITDA primarily resulted from lower volumes in both the oilfield services and equipment (OFSE) segment and the industrial and energy technology (IET) segment. The decrease in volumes was partially offset by “productivity and structural cost-out initiatives”, Baker Hughes said in an online statement. “The year-over-year increase in adjusted net income and adjusted EBITDA was driven by increased volume in IET including higher proportionate growth in Gas Technology Equipment and productivity, structural cost-out initiatives and higher pricing in both segments, partially offset by decreased volume and business mix in OFSE and cost inflation in both segments”. Revenue totaled $6.43 billion, down 13 percent sequentially but stable year-on-year. Operating activities in the January-March 2025 period generated $709 million in cash flow. Free cash flow landed at $454 million. “In our IET segment, we booked $3.2 billion of orders, including our first data center awards, totaling more than 350 MW of power solutions for this rapidly evolving market”, highlighted chair and chief executive Lorenzo Simonelli. “In addition to expanding opportunities for data centers, we have a strong pipeline

Read More »

USA Widens Sanctions on Iran to Target Lucrative Gas Exports

The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to foreign markets, some of his trading companies, an LPG tanker, and his son, Meisam Emamjomeh. It marks a step-up in Washington’s actions against individuals or entities involved in the trade of Iran’s non-crude energy exports. LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, the Treasury said in a statement. Tehran and Washington have restarted talks over Iran’s nuclear program, with Iranian officials asking for guarantees that US sanctions will be lifted in order to address US concerns. China is a big buyer of Iranian LPG. The Islamic Republic was the No. 2 source for China’s imports of propane, a type of LPG, last year, according to the Energy Information Administration. The US was China’s biggest propane supplier, though that relationship is now threatened by the trade war between the two countries that’s already disrupted flows. Washington has long targeted Iran’s crude exports. Several rounds of sanctions have impacted how the country’s oil was delivered to buyers in China, though flows appear to have recovered. China’s purchases of Iranian oil are often labeled as coming from Malaysia, with the barrels transferred between ships in the waters off the Southeast Asian nation in order to mask their origins. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed. MORE FROM THIS AUTHOR

Read More »

Calpine, Constellation, others seek settlement talks over PJM colocation rules

Calpine, Constellation Energy Generation, LS Power and generator trade groups on Tuesday asked the Federal Energy Regulatory Commission to order settlement talks to resolve issues surrounding the PJM Interconnection’s rules for colocating data centers at power plants. FERC should declare that PJM’s colocation rules should be replaced because they lack adequate clarity or consistency on the rates, terms or conditions of service, according to the joint filing by the Electric Power Supply Association; the PJM Power Providers Group, or P3; Calpine; Cogentrix Energy Power Management; Constellation; and LS Power. The request for 90 days of settlement talks is in response to FERC’s review of PJM’s colocation rules that was launched by a “show cause” order on Feb. 20. “The Commission should direct parties to this settlement process to identify an acceptable replacement rate that reasonably establishes the services, if any, used by co-located loads, and allocates any costs to such loads (or the generator serving them) consistent with cost causation principles,” the companies and trade groups said. PJM and transmission owners appear to expect that FERC will order settlement talks, according to the companies and trade groups. In responses to FERC’s show cause order, PJM offered alternate approaches to colocation that would need stakeholder input and PJM transmission owners said they “anticipate the potential for further discussion regarding possible changes to tariffs,” the companies and trade groups noted. “An attempt to settle these disputes is clearly worth the effort,” the companies and trade groups said. “There is value to a prompt resolution of these heavily contested co-location issues to ensure that the United States does not fall behind in the Artificial Intelligence revolution.” Colocation arrangements where large loads such as data centers are sited at power plants are becoming popular, but clarity about the rules for the practice is needed,

Read More »

Industry Body Looks at March Texas Upstream Employment

According to the Texas Independent Producers and Royalty Owners Association’s (TIPRO) analysis, direct Texas upstream employment for March totaled 204,400. That’s what TIPRO said in a statement sent to Rigzone by the TIPRO team recently, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS). In the statement, TIPRO highlighted that the March figure was “a decrease of 700 industry positions from February employment numbers, subject to revisions”. TIPRO noted in the statement that this represented a decline of 900 jobs in the services sector and an increase of 200 jobs in oil and gas extraction. “TIPRO’s new workforce data still indicated strong job postings for the Texas oil and natural gas industry,” the organization said in its statement. “According to the association, there were 10,120 active unique jobs postings for the Texas oil and natural gas industry last month, including 3,458 new postings,” it added. “In comparison, the state of California had 2,777 unique job postings in March, followed by New York (2,892), Florida (1,781), and Colorado (1,438). TIPRO reported a total of 53,285 unique job postings nationwide last month within the oil and natural gas sector,” it continued. In its statement, TIPRO noted that, among the 19 specific industry sectors it uses to define the Texas oil and natural gas industry, “Gasoline Stations with Convenience Stores led in the ranking for unique job listings in March with 2,806 postings, followed by Support Activities for Oil and Gas Operations (2,247), and Petroleum Refineries (820)”. The leading three cities by total unique oil and natural gas job postings were Houston, with 2,212 postings, Midland, with 635 postings, and Odessa, with 412 postings, TIPRO highlighted in its statement. The top three companies ranked by unique job postings in March were Cefco, with 1,200, Love’s, with 726, and Energy Transfer, with 307, according to TIPRO. “Of the top ten companies listed by

Read More »

Iberdrola Puts Onstream 3 Solar Projects in US

Spain’s Iberdrola S.A., through its unit Avangrid, commenced commercial operations at the True North Solar photovoltaic plant and started exporting energy from its Camino and Powell Creek solar farms in the United States. True North Solar, with over 488,000 solar panels and a capacity of 321 MW, can provide energy for nearly 60,000 U.S. homes. This makes it the largest photovoltaic project for the company in the United States, Iberdrola said. The initiative represents a $369 million investment (EUR 340 million) and has created around 300 jobs during peak construction, mainly occupied by residents, according to the company. The Camino Solar facility in California will begin commercial operation in late spring, the company said. It is equipped with 105,000 panels and represents an investment of $100 million (more than EUR 90 million). The 200-MW Powel Creek facility features 300,000 panels. Iberdrola said it is the company’s second project in the state of Ohio following the construction of the 304-MW Blue Creek in 2012. Iberdrola said Avangrid turned to U.S. companies during the construction of these projects. “In addition, Camino Solar has generated $15 million in state taxes (around EUR 14 million), Powell Creek $31 million (more than EUR 27 million) and True North Solar more than $40 million (more than EUR 37 million), directly benefiting public services and surrounding communities, especially schools”, the company said. True North’s production has expanded Avangrid’s installed capacity in the state of Texas, where it has been operating for more than 15 years, Iberdrola said. The company now has seven projects and a combined installed capacity of nearly 1.6 gigawatts (GW). True North supports the operations of Meta, with which it has signed a long-term power purchase agreement. True North Solar will also supply energy to Meta’s upcoming data center in the city of Temple,

Read More »

DOE makes $46.7M loan disbursement to support Palisades nuclear restart

The U.S. Department of Energy has made a third loan disbursement to Holtec International to assist with the company’s plan to restart the shuttered Palisades nuclear plant in Michigan, the agency announced Tuesday. The Biden administration finalized an up to $1.52 billion loan guarantee for the project in September. The most recent disbursement totals about $46.7 million, DOE said. Holtec is on track to restart operations at Palisades in October and the Nuclear Regulatory Commission expects to issue a final decision on the required licensing actions by July 31. “America needs to utilize all forms of energy that grow our economy, create new jobs, and secure energy independence,” Energy Secretary Chris Wright said in a statement. A “nuclear renaissance is just around the corner.” Palisades will be the United States’ first commercial nuclear reactor to be shuttered and restarted, DOE said. The reactor will provide 800 MW of “affordable, reliable baseload power in Michigan when completed.” Palisades was shuttered by Entergy in May 2022 due to difficult financial conditions. Holtec acquired the plant the following month. Initially Holtec had intended to decommission the plant but announced in September 2023 that it would instead work toward restarting operations.  Data centers for artificial intelligence are driving up electricity demand projections, leading the U.S. to invest in new nuclear resources.  Deloitte expects data centers to consume about 30%, or 11 GW to 19 GW, of the estimated 35 GW to 65 GW of new nuclear capacity added over the next decade through a combination of power uprates at operational plants, restarts of recently-retired reactors, and new reactor deployments at greenfield and existing power plant sites.

Read More »

Baker Hughes Posts $402MM Q1 Profit

Baker Hughes Co. has reported $402 million in net income for the first quarter (Q1), down $777 million from the prior three-month period and $53 million against Q1 2024. Net earnings adjusted for nonrecurring or extraordinary items fell 27 percent quarter-on-quarter but rose 19 percent year-on-year to $509 million, or 51 cents per share. Adjustments totaled $108 million. The adjusted figure beat the average estimate of 47 cents from analysts surveyed by Zacks. The Houston, Texas-based oilfield and energy tech heavyweight closed higher at $38.36 on Nasdaq on results day. Meanwhile Baker Hughes’ adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 21 percent sequentially but grew 10 percent year-over-year to $1.04 billion. Adjustments totaled $140 million. The quarter-on-quarter decline in adjusted net income and adjusted EBITDA primarily resulted from lower volumes in both the oilfield services and equipment (OFSE) segment and the industrial and energy technology (IET) segment. The decrease in volumes was partially offset by “productivity and structural cost-out initiatives”, Baker Hughes said in an online statement. “The year-over-year increase in adjusted net income and adjusted EBITDA was driven by increased volume in IET including higher proportionate growth in Gas Technology Equipment and productivity, structural cost-out initiatives and higher pricing in both segments, partially offset by decreased volume and business mix in OFSE and cost inflation in both segments”. Revenue totaled $6.43 billion, down 13 percent sequentially but stable year-on-year. Operating activities in the January-March 2025 period generated $709 million in cash flow. Free cash flow landed at $454 million. “In our IET segment, we booked $3.2 billion of orders, including our first data center awards, totaling more than 350 MW of power solutions for this rapidly evolving market”, highlighted chair and chief executive Lorenzo Simonelli. “In addition to expanding opportunities for data centers, we have a strong pipeline

Read More »

USA Widens Sanctions on Iran to Target Lucrative Gas Exports

The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to foreign markets, some of his trading companies, an LPG tanker, and his son, Meisam Emamjomeh. It marks a step-up in Washington’s actions against individuals or entities involved in the trade of Iran’s non-crude energy exports. LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, the Treasury said in a statement. Tehran and Washington have restarted talks over Iran’s nuclear program, with Iranian officials asking for guarantees that US sanctions will be lifted in order to address US concerns. China is a big buyer of Iranian LPG. The Islamic Republic was the No. 2 source for China’s imports of propane, a type of LPG, last year, according to the Energy Information Administration. The US was China’s biggest propane supplier, though that relationship is now threatened by the trade war between the two countries that’s already disrupted flows. Washington has long targeted Iran’s crude exports. Several rounds of sanctions have impacted how the country’s oil was delivered to buyers in China, though flows appear to have recovered. China’s purchases of Iranian oil are often labeled as coming from Malaysia, with the barrels transferred between ships in the waters off the Southeast Asian nation in order to mask their origins. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed. MORE FROM THIS AUTHOR

Read More »

Calpine, Constellation, others seek settlement talks over PJM colocation rules

Calpine, Constellation Energy Generation, LS Power and generator trade groups on Tuesday asked the Federal Energy Regulatory Commission to order settlement talks to resolve issues surrounding the PJM Interconnection’s rules for colocating data centers at power plants. FERC should declare that PJM’s colocation rules should be replaced because they lack adequate clarity or consistency on the rates, terms or conditions of service, according to the joint filing by the Electric Power Supply Association; the PJM Power Providers Group, or P3; Calpine; Cogentrix Energy Power Management; Constellation; and LS Power. The request for 90 days of settlement talks is in response to FERC’s review of PJM’s colocation rules that was launched by a “show cause” order on Feb. 20. “The Commission should direct parties to this settlement process to identify an acceptable replacement rate that reasonably establishes the services, if any, used by co-located loads, and allocates any costs to such loads (or the generator serving them) consistent with cost causation principles,” the companies and trade groups said. PJM and transmission owners appear to expect that FERC will order settlement talks, according to the companies and trade groups. In responses to FERC’s show cause order, PJM offered alternate approaches to colocation that would need stakeholder input and PJM transmission owners said they “anticipate the potential for further discussion regarding possible changes to tariffs,” the companies and trade groups noted. “An attempt to settle these disputes is clearly worth the effort,” the companies and trade groups said. “There is value to a prompt resolution of these heavily contested co-location issues to ensure that the United States does not fall behind in the Artificial Intelligence revolution.” Colocation arrangements where large loads such as data centers are sited at power plants are becoming popular, but clarity about the rules for the practice is needed,

Read More »

Industry Body Looks at March Texas Upstream Employment

According to the Texas Independent Producers and Royalty Owners Association’s (TIPRO) analysis, direct Texas upstream employment for March totaled 204,400. That’s what TIPRO said in a statement sent to Rigzone by the TIPRO team recently, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS). In the statement, TIPRO highlighted that the March figure was “a decrease of 700 industry positions from February employment numbers, subject to revisions”. TIPRO noted in the statement that this represented a decline of 900 jobs in the services sector and an increase of 200 jobs in oil and gas extraction. “TIPRO’s new workforce data still indicated strong job postings for the Texas oil and natural gas industry,” the organization said in its statement. “According to the association, there were 10,120 active unique jobs postings for the Texas oil and natural gas industry last month, including 3,458 new postings,” it added. “In comparison, the state of California had 2,777 unique job postings in March, followed by New York (2,892), Florida (1,781), and Colorado (1,438). TIPRO reported a total of 53,285 unique job postings nationwide last month within the oil and natural gas sector,” it continued. In its statement, TIPRO noted that, among the 19 specific industry sectors it uses to define the Texas oil and natural gas industry, “Gasoline Stations with Convenience Stores led in the ranking for unique job listings in March with 2,806 postings, followed by Support Activities for Oil and Gas Operations (2,247), and Petroleum Refineries (820)”. The leading three cities by total unique oil and natural gas job postings were Houston, with 2,212 postings, Midland, with 635 postings, and Odessa, with 412 postings, TIPRO highlighted in its statement. The top three companies ranked by unique job postings in March were Cefco, with 1,200, Love’s, with 726, and Energy Transfer, with 307, according to TIPRO. “Of the top ten companies listed by

Read More »

Iberdrola Puts Onstream 3 Solar Projects in US

Spain’s Iberdrola S.A., through its unit Avangrid, commenced commercial operations at the True North Solar photovoltaic plant and started exporting energy from its Camino and Powell Creek solar farms in the United States. True North Solar, with over 488,000 solar panels and a capacity of 321 MW, can provide energy for nearly 60,000 U.S. homes. This makes it the largest photovoltaic project for the company in the United States, Iberdrola said. The initiative represents a $369 million investment (EUR 340 million) and has created around 300 jobs during peak construction, mainly occupied by residents, according to the company. The Camino Solar facility in California will begin commercial operation in late spring, the company said. It is equipped with 105,000 panels and represents an investment of $100 million (more than EUR 90 million). The 200-MW Powel Creek facility features 300,000 panels. Iberdrola said it is the company’s second project in the state of Ohio following the construction of the 304-MW Blue Creek in 2012. Iberdrola said Avangrid turned to U.S. companies during the construction of these projects. “In addition, Camino Solar has generated $15 million in state taxes (around EUR 14 million), Powell Creek $31 million (more than EUR 27 million) and True North Solar more than $40 million (more than EUR 37 million), directly benefiting public services and surrounding communities, especially schools”, the company said. True North’s production has expanded Avangrid’s installed capacity in the state of Texas, where it has been operating for more than 15 years, Iberdrola said. The company now has seven projects and a combined installed capacity of nearly 1.6 gigawatts (GW). True North supports the operations of Meta, with which it has signed a long-term power purchase agreement. True North Solar will also supply energy to Meta’s upcoming data center in the city of Temple,

Read More »

DOE makes $46.7M loan disbursement to support Palisades nuclear restart

The U.S. Department of Energy has made a third loan disbursement to Holtec International to assist with the company’s plan to restart the shuttered Palisades nuclear plant in Michigan, the agency announced Tuesday. The Biden administration finalized an up to $1.52 billion loan guarantee for the project in September. The most recent disbursement totals about $46.7 million, DOE said. Holtec is on track to restart operations at Palisades in October and the Nuclear Regulatory Commission expects to issue a final decision on the required licensing actions by July 31. “America needs to utilize all forms of energy that grow our economy, create new jobs, and secure energy independence,” Energy Secretary Chris Wright said in a statement. A “nuclear renaissance is just around the corner.” Palisades will be the United States’ first commercial nuclear reactor to be shuttered and restarted, DOE said. The reactor will provide 800 MW of “affordable, reliable baseload power in Michigan when completed.” Palisades was shuttered by Entergy in May 2022 due to difficult financial conditions. Holtec acquired the plant the following month. Initially Holtec had intended to decommission the plant but announced in September 2023 that it would instead work toward restarting operations.  Data centers for artificial intelligence are driving up electricity demand projections, leading the U.S. to invest in new nuclear resources.  Deloitte expects data centers to consume about 30%, or 11 GW to 19 GW, of the estimated 35 GW to 65 GW of new nuclear capacity added over the next decade through a combination of power uprates at operational plants, restarts of recently-retired reactors, and new reactor deployments at greenfield and existing power plant sites.

Read More »

Baker Hughes Posts $402MM Q1 Profit

Baker Hughes Co. has reported $402 million in net income for the first quarter (Q1), down $777 million from the prior three-month period and $53 million against Q1 2024. Net earnings adjusted for nonrecurring or extraordinary items fell 27 percent quarter-on-quarter but rose 19 percent year-on-year to $509 million, or 51 cents per share. Adjustments totaled $108 million. The adjusted figure beat the average estimate of 47 cents from analysts surveyed by Zacks. The Houston, Texas-based oilfield and energy tech heavyweight closed higher at $38.36 on Nasdaq on results day. Meanwhile Baker Hughes’ adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 21 percent sequentially but grew 10 percent year-over-year to $1.04 billion. Adjustments totaled $140 million. The quarter-on-quarter decline in adjusted net income and adjusted EBITDA primarily resulted from lower volumes in both the oilfield services and equipment (OFSE) segment and the industrial and energy technology (IET) segment. The decrease in volumes was partially offset by “productivity and structural cost-out initiatives”, Baker Hughes said in an online statement. “The year-over-year increase in adjusted net income and adjusted EBITDA was driven by increased volume in IET including higher proportionate growth in Gas Technology Equipment and productivity, structural cost-out initiatives and higher pricing in both segments, partially offset by decreased volume and business mix in OFSE and cost inflation in both segments”. Revenue totaled $6.43 billion, down 13 percent sequentially but stable year-on-year. Operating activities in the January-March 2025 period generated $709 million in cash flow. Free cash flow landed at $454 million. “In our IET segment, we booked $3.2 billion of orders, including our first data center awards, totaling more than 350 MW of power solutions for this rapidly evolving market”, highlighted chair and chief executive Lorenzo Simonelli. “In addition to expanding opportunities for data centers, we have a strong pipeline

Read More »

USA Widens Sanctions on Iran to Target Lucrative Gas Exports

The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to foreign markets, some of his trading companies, an LPG tanker, and his son, Meisam Emamjomeh. It marks a step-up in Washington’s actions against individuals or entities involved in the trade of Iran’s non-crude energy exports. LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, the Treasury said in a statement. Tehran and Washington have restarted talks over Iran’s nuclear program, with Iranian officials asking for guarantees that US sanctions will be lifted in order to address US concerns. China is a big buyer of Iranian LPG. The Islamic Republic was the No. 2 source for China’s imports of propane, a type of LPG, last year, according to the Energy Information Administration. The US was China’s biggest propane supplier, though that relationship is now threatened by the trade war between the two countries that’s already disrupted flows. Washington has long targeted Iran’s crude exports. Several rounds of sanctions have impacted how the country’s oil was delivered to buyers in China, though flows appear to have recovered. China’s purchases of Iranian oil are often labeled as coming from Malaysia, with the barrels transferred between ships in the waters off the Southeast Asian nation in order to mask their origins. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed. MORE FROM THIS AUTHOR

Read More »

Calpine, Constellation, others seek settlement talks over PJM colocation rules

Calpine, Constellation Energy Generation, LS Power and generator trade groups on Tuesday asked the Federal Energy Regulatory Commission to order settlement talks to resolve issues surrounding the PJM Interconnection’s rules for colocating data centers at power plants. FERC should declare that PJM’s colocation rules should be replaced because they lack adequate clarity or consistency on the rates, terms or conditions of service, according to the joint filing by the Electric Power Supply Association; the PJM Power Providers Group, or P3; Calpine; Cogentrix Energy Power Management; Constellation; and LS Power. The request for 90 days of settlement talks is in response to FERC’s review of PJM’s colocation rules that was launched by a “show cause” order on Feb. 20. “The Commission should direct parties to this settlement process to identify an acceptable replacement rate that reasonably establishes the services, if any, used by co-located loads, and allocates any costs to such loads (or the generator serving them) consistent with cost causation principles,” the companies and trade groups said. PJM and transmission owners appear to expect that FERC will order settlement talks, according to the companies and trade groups. In responses to FERC’s show cause order, PJM offered alternate approaches to colocation that would need stakeholder input and PJM transmission owners said they “anticipate the potential for further discussion regarding possible changes to tariffs,” the companies and trade groups noted. “An attempt to settle these disputes is clearly worth the effort,” the companies and trade groups said. “There is value to a prompt resolution of these heavily contested co-location issues to ensure that the United States does not fall behind in the Artificial Intelligence revolution.” Colocation arrangements where large loads such as data centers are sited at power plants are becoming popular, but clarity about the rules for the practice is needed,

Read More »

Industry Body Looks at March Texas Upstream Employment

According to the Texas Independent Producers and Royalty Owners Association’s (TIPRO) analysis, direct Texas upstream employment for March totaled 204,400. That’s what TIPRO said in a statement sent to Rigzone by the TIPRO team recently, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS). In the statement, TIPRO highlighted that the March figure was “a decrease of 700 industry positions from February employment numbers, subject to revisions”. TIPRO noted in the statement that this represented a decline of 900 jobs in the services sector and an increase of 200 jobs in oil and gas extraction. “TIPRO’s new workforce data still indicated strong job postings for the Texas oil and natural gas industry,” the organization said in its statement. “According to the association, there were 10,120 active unique jobs postings for the Texas oil and natural gas industry last month, including 3,458 new postings,” it added. “In comparison, the state of California had 2,777 unique job postings in March, followed by New York (2,892), Florida (1,781), and Colorado (1,438). TIPRO reported a total of 53,285 unique job postings nationwide last month within the oil and natural gas sector,” it continued. In its statement, TIPRO noted that, among the 19 specific industry sectors it uses to define the Texas oil and natural gas industry, “Gasoline Stations with Convenience Stores led in the ranking for unique job listings in March with 2,806 postings, followed by Support Activities for Oil and Gas Operations (2,247), and Petroleum Refineries (820)”. The leading three cities by total unique oil and natural gas job postings were Houston, with 2,212 postings, Midland, with 635 postings, and Odessa, with 412 postings, TIPRO highlighted in its statement. The top three companies ranked by unique job postings in March were Cefco, with 1,200, Love’s, with 726, and Energy Transfer, with 307, according to TIPRO. “Of the top ten companies listed by

Read More »

Iberdrola Puts Onstream 3 Solar Projects in US

Spain’s Iberdrola S.A., through its unit Avangrid, commenced commercial operations at the True North Solar photovoltaic plant and started exporting energy from its Camino and Powell Creek solar farms in the United States. True North Solar, with over 488,000 solar panels and a capacity of 321 MW, can provide energy for nearly 60,000 U.S. homes. This makes it the largest photovoltaic project for the company in the United States, Iberdrola said. The initiative represents a $369 million investment (EUR 340 million) and has created around 300 jobs during peak construction, mainly occupied by residents, according to the company. The Camino Solar facility in California will begin commercial operation in late spring, the company said. It is equipped with 105,000 panels and represents an investment of $100 million (more than EUR 90 million). The 200-MW Powel Creek facility features 300,000 panels. Iberdrola said it is the company’s second project in the state of Ohio following the construction of the 304-MW Blue Creek in 2012. Iberdrola said Avangrid turned to U.S. companies during the construction of these projects. “In addition, Camino Solar has generated $15 million in state taxes (around EUR 14 million), Powell Creek $31 million (more than EUR 27 million) and True North Solar more than $40 million (more than EUR 37 million), directly benefiting public services and surrounding communities, especially schools”, the company said. True North’s production has expanded Avangrid’s installed capacity in the state of Texas, where it has been operating for more than 15 years, Iberdrola said. The company now has seven projects and a combined installed capacity of nearly 1.6 gigawatts (GW). True North supports the operations of Meta, with which it has signed a long-term power purchase agreement. True North Solar will also supply energy to Meta’s upcoming data center in the city of Temple,

Read More »

Phillips exits FERC, leaving a seat for Trump to fill

Willie Phillips, Federal Energy Regulatory Commission commissioner and former chair, has resigned from the five-member agency, giving President Donald Trump a vacant seat to fill. The move leaves FERC with two Democrats and two Republicans. Phillips, a Democrat, was sworn in as a FERC commissioner on Dec. 3, 2021. He served as chair from Jan. 3, 2023, until January 20. His term was set to end on June 30, 2026. FERC Chairman Mark Christie said in a statement on Tuesday that Phillips was a “dedicated and selfless” public servant. “He and I worked together on many contentious issues to find common ground and get things done to serve the public interest,” Christie said. During Phillips’ tenure as agency head, his stated top priorities were grid reliability, transmission expansion and environmental justice and equity. Under Phillips’ leadership, FERC issued key rulemakings on grid interconnection reform and transmission planning and cost allocation. The agency also expanded its Office of Public Participation to make it easier for the public to take part in FERC proceedings and bolstered its environmental justice efforts. “There’s a general view that he did a good job as chairman,” William Scherman, a partner at Vinson & Elkins, said Tuesday, noting Phillips had bipartisan support. “Willie was somebody who brought a renewed focus on collegiality and accommodation of different points of view.” Although having four sitting commissioners opens the possibility for deadlocked, 2-2 votes, Scherman, who previously worked at FERC as general counsel and chief of staff, said he doubts that will be a problem for the agency. The remaining members, Christie and Lindsay See, both Republicans, and David Rosner and Judy Chang, Democrats, appear to work well together, he said. “They’re all smart and hard-working and competent people who are trying to do the right thing, even when they don’t

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Microsoft will invest $80B in AI data centers in fiscal 2025

And Microsoft isn’t the only one that is ramping up its investments into AI-enabled data centers. Rival cloud service providers are all investing in either upgrading or opening new data centers to capture a larger chunk of business from developers and users of large language models (LLMs).  In a report published in October 2024, Bloomberg Intelligence estimated that demand for generative AI would push Microsoft, AWS, Google, Oracle, Meta, and Apple would between them devote $200 billion to capex in 2025, up from $110 billion in 2023. Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025. Both figures, though, are way higher than Microsoft’s 2020 capital expenditure of “just” $17.6 billion. The majority of the increased spending is tied to cloud services and the expansion of AI infrastructure needed to provide compute capacity for OpenAI workloads. Separately, last October Amazon CEO Andy Jassy said his company planned total capex spend of $75 billion in 2024 and even more in 2025, with much of it going to AWS, its cloud computing division.

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John Deere unveils more autonomous farm machines to address skill labor shortage

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Self-driving tractors might be the path to self-driving cars. John Deere has revealed a new line of autonomous machines and tech across agriculture, construction and commercial landscaping. The Moline, Illinois-based John Deere has been in business for 187 years, yet it’s been a regular as a non-tech company showing off technology at the big tech trade show in Las Vegas and is back at CES 2025 with more autonomous tractors and other vehicles. This is not something we usually cover, but John Deere has a lot of data that is interesting in the big picture of tech. The message from the company is that there aren’t enough skilled farm laborers to do the work that its customers need. It’s been a challenge for most of the last two decades, said Jahmy Hindman, CTO at John Deere, in a briefing. Much of the tech will come this fall and after that. He noted that the average farmer in the U.S. is over 58 and works 12 to 18 hours a day to grow food for us. And he said the American Farm Bureau Federation estimates there are roughly 2.4 million farm jobs that need to be filled annually; and the agricultural work force continues to shrink. (This is my hint to the anti-immigration crowd). John Deere’s autonomous 9RX Tractor. Farmers can oversee it using an app. While each of these industries experiences their own set of challenges, a commonality across all is skilled labor availability. In construction, about 80% percent of contractors struggle to find skilled labor. And in commercial landscaping, 86% of landscaping business owners can’t find labor to fill open positions, he said. “They have to figure out how to do

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2025 playbook for enterprise AI success, from agents to evals

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More 2025 is poised to be a pivotal year for enterprise AI. The past year has seen rapid innovation, and this year will see the same. This has made it more critical than ever to revisit your AI strategy to stay competitive and create value for your customers. From scaling AI agents to optimizing costs, here are the five critical areas enterprises should prioritize for their AI strategy this year. 1. Agents: the next generation of automation AI agents are no longer theoretical. In 2025, they’re indispensable tools for enterprises looking to streamline operations and enhance customer interactions. Unlike traditional software, agents powered by large language models (LLMs) can make nuanced decisions, navigate complex multi-step tasks, and integrate seamlessly with tools and APIs. At the start of 2024, agents were not ready for prime time, making frustrating mistakes like hallucinating URLs. They started getting better as frontier large language models themselves improved. “Let me put it this way,” said Sam Witteveen, cofounder of Red Dragon, a company that develops agents for companies, and that recently reviewed the 48 agents it built last year. “Interestingly, the ones that we built at the start of the year, a lot of those worked way better at the end of the year just because the models got better.” Witteveen shared this in the video podcast we filmed to discuss these five big trends in detail. Models are getting better and hallucinating less, and they’re also being trained to do agentic tasks. Another feature that the model providers are researching is a way to use the LLM as a judge, and as models get cheaper (something we’ll cover below), companies can use three or more models to

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OpenAI’s red teaming innovations define new essentials for security leaders in the AI era

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More OpenAI has taken a more aggressive approach to red teaming than its AI competitors, demonstrating its security teams’ advanced capabilities in two areas: multi-step reinforcement and external red teaming. OpenAI recently released two papers that set a new competitive standard for improving the quality, reliability and safety of AI models in these two techniques and more. The first paper, “OpenAI’s Approach to External Red Teaming for AI Models and Systems,” reports that specialized teams outside the company have proven effective in uncovering vulnerabilities that might otherwise have made it into a released model because in-house testing techniques may have missed them. In the second paper, “Diverse and Effective Red Teaming with Auto-Generated Rewards and Multi-Step Reinforcement Learning,” OpenAI introduces an automated framework that relies on iterative reinforcement learning to generate a broad spectrum of novel, wide-ranging attacks. Going all-in on red teaming pays practical, competitive dividends It’s encouraging to see competitive intensity in red teaming growing among AI companies. When Anthropic released its AI red team guidelines in June of last year, it joined AI providers including Google, Microsoft, Nvidia, OpenAI, and even the U.S.’s National Institute of Standards and Technology (NIST), which all had released red teaming frameworks. Investing heavily in red teaming yields tangible benefits for security leaders in any organization. OpenAI’s paper on external red teaming provides a detailed analysis of how the company strives to create specialized external teams that include cybersecurity and subject matter experts. The goal is to see if knowledgeable external teams can defeat models’ security perimeters and find gaps in their security, biases and controls that prompt-based testing couldn’t find. What makes OpenAI’s recent papers noteworthy is how well they define using human-in-the-middle

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Three Aberdeen oil company headquarters sell for £45m

Three Aberdeen oil company headquarters have been sold in a deal worth £45 million. The CNOOC, Apache and Taqa buildings at the Prime Four business park in Kingswells have been acquired by EEH Ventures. The trio of buildings, totalling 275,000 sq ft, were previously owned by Canadian firm BMO. The financial services powerhouse first bought the buildings in 2014 but took the decision to sell the buildings as part of a “long-standing strategy to reduce their office exposure across the UK”. The deal was the largest to take place throughout Scotland during the last quarter of 2024. Trio of buildings snapped up London headquartered EEH Ventures was founded in 2013 and owns a number of residential, offices, shopping centres and hotels throughout the UK. All three Kingswells-based buildings were pre-let, designed and constructed by Aberdeen property developer Drum in 2012 on a 15-year lease. © Supplied by CBREThe Aberdeen headquarters of Taqa. Image: CBRE The North Sea headquarters of Middle-East oil firm Taqa has previously been described as “an amazing success story in the Granite City”. Taqa announced in 2023 that it intends to cease production from all of its UK North Sea platforms by the end of 2027. Meanwhile, Apache revealed at the end of last year it is planning to exit the North Sea by the end of 2029 blaming the windfall tax. The US firm first entered the North Sea in 2003 but will wrap up all of its UK operations by 2030. Aberdeen big deals The Prime Four acquisition wasn’t the biggest Granite City commercial property sale of 2024. American private equity firm Lone Star bought Union Square shopping centre from Hammerson for £111m. © ShutterstockAberdeen city centre. Hammerson, who also built the property, had originally been seeking £150m. BP’s North Sea headquarters in Stoneywood, Aberdeen, was also sold. Manchester-based

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2025 ransomware predictions, trends, and how to prepare

Zscaler ThreatLabz research team has revealed critical insights and predictions on ransomware trends for 2025. The latest Ransomware Report uncovered a surge in sophisticated tactics and extortion attacks. As ransomware remains a key concern for CISOs and CIOs, the report sheds light on actionable strategies to mitigate risks. Top Ransomware Predictions for 2025: ● AI-Powered Social Engineering: In 2025, GenAI will fuel voice phishing (vishing) attacks. With the proliferation of GenAI-based tooling, initial access broker groups will increasingly leverage AI-generated voices; which sound more and more realistic by adopting local accents and dialects to enhance credibility and success rates. ● The Trifecta of Social Engineering Attacks: Vishing, Ransomware and Data Exfiltration. Additionally, sophisticated ransomware groups, like the Dark Angels, will continue the trend of low-volume, high-impact attacks; preferring to focus on an individual company, stealing vast amounts of data without encrypting files, and evading media and law enforcement scrutiny. ● Targeted Industries Under Siege: Manufacturing, healthcare, education, energy will remain primary targets, with no slowdown in attacks expected. ● New SEC Regulations Drive Increased Transparency: 2025 will see an uptick in reported ransomware attacks and payouts due to new, tighter SEC requirements mandating that public companies report material incidents within four business days. ● Ransomware Payouts Are on the Rise: In 2025 ransom demands will most likely increase due to an evolving ecosystem of cybercrime groups, specializing in designated attack tactics, and collaboration by these groups that have entered a sophisticated profit sharing model using Ransomware-as-a-Service. To combat damaging ransomware attacks, Zscaler ThreatLabz recommends the following strategies. ● Fighting AI with AI: As threat actors use AI to identify vulnerabilities, organizations must counter with AI-powered zero trust security systems that detect and mitigate new threats. ● Advantages of adopting a Zero Trust architecture: A Zero Trust cloud security platform stops

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The Download: introducing the Creativity issue

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Introducing: the Creativity issue The university computer lab may seem like an unlikely center for creativity. We tend to think of creativity as happening more in the artist’s studio or writers’ workshop. But throughout history, very often our greatest creative leaps—and I would argue that the web and its descendants represent one such leap—have been due to advances in technology. But the key to artistic achievement has never been the technology itself. It has been the way artists have applied it to express our humanity.This latest issue of our magazine, which was entirely produced by human beings using computers, explores creativity and the tension between the artist and technology. We hope you enjoy reading it as much as we enjoyed putting it together. —Mat Honan, editor in chief
Here’s just a taste of what you can expect: + AI is warping our expectations of music. New diffusion AI models that make songs from scratch are complicating our definitions of authorship and human creativity. Read the full story.+ Meet the researchers testing the “Armageddon” approach to asteroid defense. Read the full story.
+ How the federal government is tracking changes in the supply of street drugs. A new harm reduction initiative is helping prevent needless deaths. Read the full story.+ How AI is ushering in a new era of co-creativity, laying the groundwork for a future in which humans and machines create things together. Read the full story. + South Korea’s graphic artists are divided over whether AI will immortalize their work or threaten their creativity. + A new biosensor can detect bird flu in just five minutes. Read the full story. MIT Technology Review Narrated: Quantum computing is taking on its biggest challenge—noise For a while researchers thought they’d have to make do with noisy, error-prone systems, at least in the near term. That’s starting to change.This is our latest story to be turned into a MIT Technology Review Narrated podcast, which we’re publishing each week on Spotify and Apple Podcasts. Just navigate to MIT Technology Review Narrated on either platform, and follow us to get all our new content as it’s released. Join us today to chat about brain-computer interfaces

Brain-computer interfaces are electrodes implanted into the brain to send neural commands to computers, primarily to assist paralyzed people, and our readers recently named them as the 11th Breakthrough Technology of 2025 in our annual list. So what are the next steps for companies like Neuralink, Synchron, and Neuracle? And will they be able to help paralyzed people at scale?Join our editor at large David Rotman and senior editor for biomedicine Antonio Regalado today for an exclusive subscriber-only Roundtable discussion exploring the past, present, and future of brain-computer interfaces. Register here to tune in at 1pm ET this afternoon! The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 OpenAI is interested in buying Chrome from Google ChatGPT’s head of product Nick Turley said folding its tech into Chrome would improve it greatly. (Bloomberg $)+ It would be just one of many prospective buyers. (Insider $)+ Turley would also be happy with a distribution deal with Google. (The Information $) 2 Instagram’s founder says Meta starved it of resourcesKevin Systrom believes Mark Zuckerberg saw the app as a threat to Facebook. (NYT $)+ It sounds as if the pair had a strained relationship. (The Verge) 3 Elon Musk will step back from DOGE next month In his absence, Tesla’s profits have plummeted. (WP $)+ But he’ll still spend a day or so a week working on US government matters. (CNBC)+ There’s no denying that his political activities have damaged Tesla’s brand. (WSJ $)+ DOGE’s tech takeover threatens the safety and stability of our critical data. (MIT Technology Review) 4 Chinese scientists and students are under scrutiny in the USIt’s a repeat of the China Initiative program launched under Trump’s first Presidency. (WSJ $)+ US universities are starting to push back against government overreach. (Ars Technica)+ The FBI accused him of spying for China. It ruined his life. (MIT Technology Review)
5 Rare earth elements aren’t so rare after allWhich is bad news for China. (Wired $)+ But China’s export curbs are harming Tesla’s Optimus robot production. (Reuters)+ This rare earth metal shows us the future of our planet’s resources. (MIT Technology Review) 6 How to wean yourself off fossil fuelsMassive home batteries are an intriguing energy alternative. (Vox)
7 A new mission to grow food in space has blasted offScientists are investigating creating food from single cells in orbit. (BBC)+ Future space food could be made from astronaut breath. (MIT Technology Review) 8 It’s time to bid farewell to SkypeRIP to the OG video calling platform. (Rest of World)  9 Analysts are using AI to psychologically profile top soccer players ⚽And also to spot bright young talent. (The Guardian) 10 Saving the world’s seeds is a tricky business 🌱They’re the first line of defense against extinction. (Knowable Magazine)+ The weeds are winning. (MIT Technology Review) Quote of the day
“Stuffing Chrome with even more AI crap is one way to spur browser innovation, I guess.” —Tech critic Paris Marx isn’t convinced that OpenAI buying Chrome would improve it, in a post on Bluesky. The big story
How gamification took over the worldIt’s a thought that occurs to every video-game player at some point: What if the weird, hyper-focused state I enter when playing in virtual worlds could somehow be applied to the real one?Often pondered during especially challenging or tedious tasks in meatspace (writing essays, say, or doing your taxes), it’s an eminently reasonable question to ask. Life, after all, is hard. And while video games are too, there’s something almost magical about the way they can promote sustained bouts of superhuman concentration and resolve.For some, this phenomenon leads to an interest in flow states and immersion. For others, it’s simply a reason to play more games. For a handful of consultants, startup gurus, and game designers in the late 2000s, it became the key to unlocking our true human potential. But instead of liberating us, gamification turned out to be just another tool for coercion, distraction, and control. Read the full story. —Bryan Gardiner We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + Succession creator Jesse Armstrong’s new film Mountainhead looks intriguing.+ Domestic cats have a much more complicated history than we previously realized.+ If you enjoyed the new vampire flick Sinners, you’ll love these Indian folk horrors.+ This hispi cabbage side dish looks incredible.

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3 Things Caiwei Chen is into right now

A new play about OpenAI I recently saw Doomers, a new play by Matthew Gasda about the aborted 2023 coup at OpenAI, here represented by a fictional company called MindMesh. The action is set almost entirely in a meeting room; the first act follows executives immediately after the firing of company CEO Seth (a stand-in for Sam Altman), and the second re-creates the board negotiations that determined his fate. It’s a solid attempt to capture the zeitgeist of Silicon Valley’s AI frenzy and the world’s moral panic over artificial intelligence, but the rapid-fire, high-stakes exchanges mean it sometimes seems to get lost in its own verbosity. Themed dinner parties and culinary experiments The vastness of Chinese cuisine defies easy categorization, and even in a city with no shortage of options, I often find myself cooking—not just to recapture something closer to home, but to create a home unlike one that ever existed. Recently, I’ve been experimenting with a Chinese take on the charcuterie board—pairing toasted steamed buns, called mantou, with furu, a fermented tofu spread that is sharp, pungent, and full of umami. Sewing and copying my own clothes I started sewing three years ago, but only in the past year have I begun making clothes from scratch. As a lover of vintage fashion—especially ’80s silhouettes—I started out with old patterns I found on Etsy. But recently, I tried something new: copying a beloved dress I bought in a thrift store in Beijing years ago. Doing this is quite literally a process of reverse-engineering—­pinning the garment down, tracing its seams, deconstructing its logic, and rebuilding it. At times my brain feels like an old Mac hitting its GPU limit. But when it works, it feels like a small act of magic. It’s an exercise in certainty, the very thing that drew me to fashion in the first place—a chance to inhabit something that feels like an extension of myself.

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Seeing AI as a collaborator, not a creator

The reason you are reading this letter from me today is that I was bored 30 years ago.  I was bored and curious about the world and so I wound up spending a lot of time in the university computer lab, screwing around on Usenet and the early World Wide Web, looking for interesting things to read. Soon enough I wasn’t content to just read stuff on the internet—I wanted to make it. So I learned HTML and made a basic web page, and then a better web page, and then a whole website full of web things. And then I just kept going from there. That amateurish collection of web pages led to a journalism internship with the online arm of a magazine that paid little attention to what we geeks were doing on the web. And that led to my first real journalism job, and then another, and, well, eventually this journalism job.  But none of that would have been possible if I hadn’t been bored and curious. And more to the point: curious about tech.  The university computer lab may seem at first like an unlikely center for creativity. We tend to think of creativity as happening more in the artist’s studio or writers’ workshop. But throughout history, very often our greatest creative leaps—and I would argue that the web and its descendants represent one such leap—have been due to advances in technology. 
There are the big easy examples, like photography or the printing press, but it’s also true of all sorts of creative inventions that we often take for granted. Oil paints. Theaters. Musical scores. Electric synthesizers! Almost anywhere you look in the arts, perhaps outside of pure vocalization, technology has played a role.   But the key to artistic achievement has never been the technology itself. It has been the way artists have applied it to express our humanity. Think of the way we talk about the arts. We often compliment it with words that refer to our humanity, like soul, heart, and life; we often criticize it with descriptors such as sterile, clinical, or lifeless. (And sure, you can love a sterile piece of art, but typically that’s because the artist has leaned into sterility to make a point about humanity!)
All of which is to say I think that AI can be, will be, and already is a tool for creative expression, but that true art will always be something steered by human creativity, not machines.  I could be wrong. I hope not.  This issue, which was entirely produced by human beings using computers, explores creativity and the tension between the artist and technology. You can see it on our cover illustrated by Tom Humberstone, and read about it in stories from James O’Donnell, Will Douglas Heaven, Rebecca Ackermann, Michelle Kim, Bryan Gardiner, and Allison Arieff.  Yet of course, creativity is about more than just the arts. All of human advancement stems from creativity, because creativity is how we solve problems. So it was important to us to bring you accounts of that as well. You’ll find those in stories from Carrie Klein, Carly Kay, Matthew Ponsford, and Robin George Andrews. (If you’ve ever wanted to know how we might nuke an asteroid, this is the issue for you!)   We’re also trying to get a little more creative ourselves. Over the next few issues, you’ll notice some changes coming to this magazine with the addition of some new regular items (see Caiwei Chen’s “3 Things” for one such example). Among those changes, we are planning to solicit and publish more regular reader feedback and answer questions you may have about technology. We invite you to get creative and email us: [email protected]. As always, thanks for reading.

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$42.1 million poured into startup offering energy-efficient solutions for costly and unwieldy operational data and AI workloads

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Hyperscale data warehouse vendor Ocient announced today that it has raised $42.1 million as the second extension of its series B funding to accelerate the development and delivery of energy-efficient solutions for costly and unwieldy operational data and AI workloads. The funding infusion doesn’t just add to the Chicago startup’s already hefty war chest; it sharpens a mission to make hyperscale analytics radically cheaper and greener at the very moment enterprises fear ballooning data‑center power bills.  The new round increases the company’s total funding to $159.4 million. The latest round was led by climate-savvy backers such as Blue Bear Capital and Allstate Strategic Ventures — a signal that investors now view data-platform efficiency as a climate issue as much as a performance one.  Ocient CEO Chris Gladwin told VentureBeat that Ocient’s architecture already delivers “ten‑to‑one price‑performance gains” on multi‑petabyte workloads, and plans are underway to carry that advantage into new verticals from automotive telemetry to climate modeling. The startup has doubled its revenues for three consecutive years and appointed Henry Marshall, formerly CFO at space-infrastructure firm Loft Orbital, to steer its financial operations, signaling that Ocient is entering a formal growth stage. A funding round framed by climate economics The $42.1 million top‑up follows the $49.4 million raise in March 2024 that lifted Ocient’s invested capital to $119 million and marked 109 percent year‑over‑year revenue growth. Alongside its new investors, the company retains support from Greycroft and OCA Ventures, with Buoyant Ventures backing the extension for its “differentiated approach to delivering energy‑efficient analytics.” Gladwin linked the round to a broader mission: “Enterprises are grappling with complex data ecosystems, energy availability, and the pressure to control costs while proving business value,” he

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More accurate coding: Researchers adapt Sequential Monte Carlo for AI-generated code

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Coding with the help of AI models continues to gain popularity, but many have highlighted issues that arise when developers rely on coding assistants.  However, researchers from MIT, McGill University, ETH Zurich, Johns Hopkins University, Yale and the Mila-Quebec Artificial Intelligence Institute have developed a new method for ensuring that AI-generated codes are more accurate and useful. This method spans various programming languages and instructs the large language model (LLM) to adhere to the rules of each language. The group found that by adapting new sampling methods, AI models can be guided to follow programming language rules and even enhance the performance of small language models (SLMs), which are typically used for code generation, surpassing that of large language models. In the paper, the researchers used Sequential Monte Carlo (SMC) to “tackle a number of challenging semantic parsing problems, guiding generation with incremental static and dynamic analysis.” Sequential Monte Carlo refers to a family of algorithms that help figure out solutions to filtering problems.  João Loula, co-lead writer of the paper, said in an interview with MIT’s campus paper that the method “could improve programming assistants, AI-powered data analysis and scientific discovery tools.” It can also cut compute costs and be more efficient than reranking methods.  The researchers noted that AI-generated code can be powerful, but it can also often lead to code that disregards the semantic rules of programming languages. Other methods to prevent this can distort models or are too time-consuming.  Their method makes the LLM adhere to programming language rules by discarding code outputs that may not work early in the process and “allocate efforts towards outputs that more most likely to be valid and accurate.” Adapting SMC to

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SWiRL: The business case for AI that thinks like your best problem-solvers

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Researchers from Stanford University and Google DeepMind have unveiled Step-Wise Reinforcement Learning (SWiRL), a technique designed to enhance the ability of large language models (LLMs) to tackle complex tasks requiring multi-step reasoning and tool use.  As the interest in AI agents and LLM tool use continues to increase, this technique could offer substantial benefits for enterprises looking to integrate reasoning models into their applications and workflows. The challenge of multi-step problems Real-world enterprise applications often involve multi-step processes. For example, planning a complex marketing campaign may involve market research, internal data analysis, budget calculation and reviewing customer support tickets. This requires online searches, access to internal databases and running code. Traditional reinforcement learning (RL) methods used to fine-tune LLMs, such as Reinforcement Learning from Human Feedback (RLHF) or RL from AI Feedback (RLAIF), typically focus on optimizing models for single-step reasoning tasks.  The lead authors of the SWiRL paper, Anna Goldie, research scientist at Google DeepMind, and Azalia Mirhosseini, assistant professor of computer science at Stanford University, believe that current LLM training methods are not suited for the multi-step reasoning tasks that real-world applications require. “LLMs trained via traditional methods typically struggle with multi-step planning and tool integration, meaning that they have difficulty performing tasks that require retrieving and synthesizing documents from multiple sources (e.g., writing a business report) or multiple steps of reasoning and arithmetic calculation (e.g., preparing a financial summary),” they told VentureBeat. Step-Wise Reinforcement Learning (SWiRL) SWiRL tackles this multi-step challenge through a combination of synthetic data generation and a specialized RL approach that trains models on entire sequences of actions.  As the researchers state in their paper, “Our goal is to teach the model how to decompose

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Baker Hughes Posts $402MM Q1 Profit

Baker Hughes Co. has reported $402 million in net income for the first quarter (Q1), down $777 million from the prior three-month period and $53 million against Q1 2024. Net earnings adjusted for nonrecurring or extraordinary items fell 27 percent quarter-on-quarter but rose 19 percent year-on-year to $509 million, or 51 cents per share. Adjustments totaled $108 million. The adjusted figure beat the average estimate of 47 cents from analysts surveyed by Zacks. The Houston, Texas-based oilfield and energy tech heavyweight closed higher at $38.36 on Nasdaq on results day. Meanwhile Baker Hughes’ adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 21 percent sequentially but grew 10 percent year-over-year to $1.04 billion. Adjustments totaled $140 million. The quarter-on-quarter decline in adjusted net income and adjusted EBITDA primarily resulted from lower volumes in both the oilfield services and equipment (OFSE) segment and the industrial and energy technology (IET) segment. The decrease in volumes was partially offset by “productivity and structural cost-out initiatives”, Baker Hughes said in an online statement. “The year-over-year increase in adjusted net income and adjusted EBITDA was driven by increased volume in IET including higher proportionate growth in Gas Technology Equipment and productivity, structural cost-out initiatives and higher pricing in both segments, partially offset by decreased volume and business mix in OFSE and cost inflation in both segments”. Revenue totaled $6.43 billion, down 13 percent sequentially but stable year-on-year. Operating activities in the January-March 2025 period generated $709 million in cash flow. Free cash flow landed at $454 million. “In our IET segment, we booked $3.2 billion of orders, including our first data center awards, totaling more than 350 MW of power solutions for this rapidly evolving market”, highlighted chair and chief executive Lorenzo Simonelli. “In addition to expanding opportunities for data centers, we have a strong pipeline

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USA Widens Sanctions on Iran to Target Lucrative Gas Exports

The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to foreign markets, some of his trading companies, an LPG tanker, and his son, Meisam Emamjomeh. It marks a step-up in Washington’s actions against individuals or entities involved in the trade of Iran’s non-crude energy exports. LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, the Treasury said in a statement. Tehran and Washington have restarted talks over Iran’s nuclear program, with Iranian officials asking for guarantees that US sanctions will be lifted in order to address US concerns. China is a big buyer of Iranian LPG. The Islamic Republic was the No. 2 source for China’s imports of propane, a type of LPG, last year, according to the Energy Information Administration. The US was China’s biggest propane supplier, though that relationship is now threatened by the trade war between the two countries that’s already disrupted flows. Washington has long targeted Iran’s crude exports. Several rounds of sanctions have impacted how the country’s oil was delivered to buyers in China, though flows appear to have recovered. China’s purchases of Iranian oil are often labeled as coming from Malaysia, with the barrels transferred between ships in the waters off the Southeast Asian nation in order to mask their origins. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed. MORE FROM THIS AUTHOR

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Calpine, Constellation, others seek settlement talks over PJM colocation rules

Calpine, Constellation Energy Generation, LS Power and generator trade groups on Tuesday asked the Federal Energy Regulatory Commission to order settlement talks to resolve issues surrounding the PJM Interconnection’s rules for colocating data centers at power plants. FERC should declare that PJM’s colocation rules should be replaced because they lack adequate clarity or consistency on the rates, terms or conditions of service, according to the joint filing by the Electric Power Supply Association; the PJM Power Providers Group, or P3; Calpine; Cogentrix Energy Power Management; Constellation; and LS Power. The request for 90 days of settlement talks is in response to FERC’s review of PJM’s colocation rules that was launched by a “show cause” order on Feb. 20. “The Commission should direct parties to this settlement process to identify an acceptable replacement rate that reasonably establishes the services, if any, used by co-located loads, and allocates any costs to such loads (or the generator serving them) consistent with cost causation principles,” the companies and trade groups said. PJM and transmission owners appear to expect that FERC will order settlement talks, according to the companies and trade groups. In responses to FERC’s show cause order, PJM offered alternate approaches to colocation that would need stakeholder input and PJM transmission owners said they “anticipate the potential for further discussion regarding possible changes to tariffs,” the companies and trade groups noted. “An attempt to settle these disputes is clearly worth the effort,” the companies and trade groups said. “There is value to a prompt resolution of these heavily contested co-location issues to ensure that the United States does not fall behind in the Artificial Intelligence revolution.” Colocation arrangements where large loads such as data centers are sited at power plants are becoming popular, but clarity about the rules for the practice is needed,

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Industry Body Looks at March Texas Upstream Employment

According to the Texas Independent Producers and Royalty Owners Association’s (TIPRO) analysis, direct Texas upstream employment for March totaled 204,400. That’s what TIPRO said in a statement sent to Rigzone by the TIPRO team recently, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS). In the statement, TIPRO highlighted that the March figure was “a decrease of 700 industry positions from February employment numbers, subject to revisions”. TIPRO noted in the statement that this represented a decline of 900 jobs in the services sector and an increase of 200 jobs in oil and gas extraction. “TIPRO’s new workforce data still indicated strong job postings for the Texas oil and natural gas industry,” the organization said in its statement. “According to the association, there were 10,120 active unique jobs postings for the Texas oil and natural gas industry last month, including 3,458 new postings,” it added. “In comparison, the state of California had 2,777 unique job postings in March, followed by New York (2,892), Florida (1,781), and Colorado (1,438). TIPRO reported a total of 53,285 unique job postings nationwide last month within the oil and natural gas sector,” it continued. In its statement, TIPRO noted that, among the 19 specific industry sectors it uses to define the Texas oil and natural gas industry, “Gasoline Stations with Convenience Stores led in the ranking for unique job listings in March with 2,806 postings, followed by Support Activities for Oil and Gas Operations (2,247), and Petroleum Refineries (820)”. The leading three cities by total unique oil and natural gas job postings were Houston, with 2,212 postings, Midland, with 635 postings, and Odessa, with 412 postings, TIPRO highlighted in its statement. The top three companies ranked by unique job postings in March were Cefco, with 1,200, Love’s, with 726, and Energy Transfer, with 307, according to TIPRO. “Of the top ten companies listed by

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Iberdrola Puts Onstream 3 Solar Projects in US

Spain’s Iberdrola S.A., through its unit Avangrid, commenced commercial operations at the True North Solar photovoltaic plant and started exporting energy from its Camino and Powell Creek solar farms in the United States. True North Solar, with over 488,000 solar panels and a capacity of 321 MW, can provide energy for nearly 60,000 U.S. homes. This makes it the largest photovoltaic project for the company in the United States, Iberdrola said. The initiative represents a $369 million investment (EUR 340 million) and has created around 300 jobs during peak construction, mainly occupied by residents, according to the company. The Camino Solar facility in California will begin commercial operation in late spring, the company said. It is equipped with 105,000 panels and represents an investment of $100 million (more than EUR 90 million). The 200-MW Powel Creek facility features 300,000 panels. Iberdrola said it is the company’s second project in the state of Ohio following the construction of the 304-MW Blue Creek in 2012. Iberdrola said Avangrid turned to U.S. companies during the construction of these projects. “In addition, Camino Solar has generated $15 million in state taxes (around EUR 14 million), Powell Creek $31 million (more than EUR 27 million) and True North Solar more than $40 million (more than EUR 37 million), directly benefiting public services and surrounding communities, especially schools”, the company said. True North’s production has expanded Avangrid’s installed capacity in the state of Texas, where it has been operating for more than 15 years, Iberdrola said. The company now has seven projects and a combined installed capacity of nearly 1.6 gigawatts (GW). True North supports the operations of Meta, with which it has signed a long-term power purchase agreement. True North Solar will also supply energy to Meta’s upcoming data center in the city of Temple,

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DOE makes $46.7M loan disbursement to support Palisades nuclear restart

The U.S. Department of Energy has made a third loan disbursement to Holtec International to assist with the company’s plan to restart the shuttered Palisades nuclear plant in Michigan, the agency announced Tuesday. The Biden administration finalized an up to $1.52 billion loan guarantee for the project in September. The most recent disbursement totals about $46.7 million, DOE said. Holtec is on track to restart operations at Palisades in October and the Nuclear Regulatory Commission expects to issue a final decision on the required licensing actions by July 31. “America needs to utilize all forms of energy that grow our economy, create new jobs, and secure energy independence,” Energy Secretary Chris Wright said in a statement. A “nuclear renaissance is just around the corner.” Palisades will be the United States’ first commercial nuclear reactor to be shuttered and restarted, DOE said. The reactor will provide 800 MW of “affordable, reliable baseload power in Michigan when completed.” Palisades was shuttered by Entergy in May 2022 due to difficult financial conditions. Holtec acquired the plant the following month. Initially Holtec had intended to decommission the plant but announced in September 2023 that it would instead work toward restarting operations.  Data centers for artificial intelligence are driving up electricity demand projections, leading the U.S. to invest in new nuclear resources.  Deloitte expects data centers to consume about 30%, or 11 GW to 19 GW, of the estimated 35 GW to 65 GW of new nuclear capacity added over the next decade through a combination of power uprates at operational plants, restarts of recently-retired reactors, and new reactor deployments at greenfield and existing power plant sites.

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