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Jade Secures Preliminary Funding Deal for Mongolian CBM-to-LNG Project

Zhengzhou Langrun Intelligent Equipment Co Ltd has signed a non-binding letter of intent to provide up to $46 million (AUD 70 million) in financing for a coal bed methane (CBM)-to-liquefied natural gas (LNG) project by Jade Gas Holdings Ltd in Mongolia. The agreement is for the Red Lake gas field, part of the Australian company’s flagship project with the Mongolian government’s Erdenes Methane LLC to develop the Tavantolgoi XXXIII unconventional oil basin (TTCBM Project). Red Lake has 246 billion cubic feet of 2C gross unrisked contingent resources, according to Jade. The Chinese CBM-focused gas equipment manufacturer would fund drilling and production for the next 18 wells in the field, Jade said in a stock filing. Jade has already drilled seven Red Lake wells according to the company. The “non-dilutive financing” would also cover surface facilities for gathering, processing and liquefying gas produced from the field into LNG. The deal also includes “a low upfront capital outlay option, to be funded by future Jade revenue”, Jade said. The parties agreed to consider expanding the terms to accommodate all 175 gas production wells in Red Lake’s first-phase development. Phase 1 involves 20 production wells, including two that came online June, according to Jade. “Langrun’s expertise in the gas industry in China and in particular in CBM offers a great fit for Jade as the company seeks options to fast-track development of the Red Lake gas field and to optimize gas production for faster access to customer markets and ultimately early revenue”, Jade said. “Subject to agreement of definitive documentation, and government and regulator cooperation and other approvals, the Red Lake gas field could potentially be developed to cover purification, pipeline and other transport, compression (for potential production of CNG), liquefaction (for production of LNG), refueling station construction, enabling gas sales for vehicle,

Read More »

Var Energi Confirms Oil Discovery Near Goliat

Var Energi ASA on Thursday confirmed oil in the Zagato North appraisal well, located 10 kilometers (6.21 miles) north of its operated Goliat field on Norway’s side of the Barents Sea. Zagato North, or well 7122/8-4 S, yielded estimated gross recoverable resources of up to three million barrels of oil equivalent (MMboe) in the Klappmyss and Realgrunnen formations, according to a press release by the Stavanger, Norway-based oil and gas explorer and producer. The discovery is part of Production License 229, operated by Var Energi with a 65 percent stake with Equinor as partner holding 35 percent. It is the13th well drilled in the production license, awarded under the Barents Sea Project in 1997, the Norwegian Offshore Directorate (NOD) said separately. The partners are considering tying the discovery to existing Goliat infrastructure. The discovery had been proven February. The well aimed to delineate the 7122/8-3 S (Zagato) discovery in Lower Jurassic-Upper Triassic and Middle Triassic reservoir rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively. “Well 7122/8-4 S encountered an 11-meter [36.09 feet] oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 8.5 meters with good reservoir quality”, the NOD said. “The oil/water contact was encountered 1,523 meters below sea level. “Additional reservoir rocks were encountered in the Kobbe Formation totaling 48 meters with moderate reservoir quality, but the reservoirs were aquiferous. “An 80-meter oil column was also proven in the Klappmyss Fomation in sandstone layers totaling one meter with poor reservoir quality. The oil/water contact was not encountered. “The well was not formation-tested, but extensive data acquisition and sampling were carried out. “Appraisal well 7122/8-4 S was drilled to respective measured/vertical depths of 2986/2793 meters below sea level, and was terminated in the Klappmyss Formation in the Lower Triassic”. Zagato North, which has a

Read More »

A new kind of self-service: empowering utilities to shape their own tech

When utilities are empowered to meet their own tech needs, the whole system benefits. Across the energy industry, the idea of self-service has long been aimed at end-customers, helping them check their usage, change a tariff, or resolve an issue without calling a support team. But in an era of rapid digital transformation, a new kind of self-service is emerging: one aimed at utilities themselves.Today, it’s becoming increasingly critical that utilities must be able to serve their own tech needs, configuring their tech systems to build new products, refine processes, and connect systems without complicated, lengthy coding and other outside help. Independently configurable tech is about giving teams direct control of their tools so they can respond to challenges and innovate at speed. As grids decentralize and customer expectations rise, utilities can’t afford to get caught up in coding request tickets. Many utilities still struggle with cumbersome, disconnected and inflexible systems.  Now, fortunately, a new generation of integrated, configurable tech is here, laying the groundwork for utilities to champion their changing industry. Rigid tech is holding utilities back Clunky tech remains one of the biggest barriers to utility innovation. Many utilities still rely on a patchwork of disconnected legacy systems – for billing, metering, customer care, and field operations, to name a few. These systems are often siloed, with data held in a range of different forms and formats. Even relatively small updates – building a new rate, or tweaking a debt collection process – often demands weeks of specialist work across several siloed platforms, followed by more effort to stitch those updates together without breaking everything. This isn’t just slow and costly, it wears people down. Talented teams lose faith when they can’t fix what’s broken or move ideas forward. Empowering utilities to serve their own tech needs Bringing

Read More »

Crude Settles Higher

Oil eked out gains, rebounding slightly from the previous trading day’s sharp slump as traders weighed the outlook for a record surplus against supply risks from US sanctions. West Texas Intermediate rose 0.3% to settle under $59 a barrel after losing almost 4.2% on Wednesday, its biggest drop since June. Expectations for a long-awaited surplus were bolstered when the International Energy Agency flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by just over four million barrels a day next year.  Hours later, a US government report showed crude inventories rose 6.4 million barrels last week, the biggest increase since July and markedly higher than expected.  Both announcements came a day after producer group OPEC — which has been restoring idled capacity this year — said that global supply had topped demand in the third quarter, flipping its earlier estimate for the period from a shortfall. The bearish outlook for next year has weighed on oil prices afresh in recent days, with a key indicator — WTI’s prompt spread — sinking into contango. That pricing pattern, with the nearest contracts trading at discounts to further-out ones, signals ample short-term supplies, though it also clawed back into bearish territory on Thursday. At the same time, the Trump administration has moved to raise the pressure on Russia to end the war in Ukraine, including sanctions on Rosneft PJSC and Lukoil PJSC. With days to go until sanctions fully kick in, The Carlyle Group Inc. is exploring its options to buy Lukoil’s foreign assets, Reuters reported.  And bearish momentum on the news of rising US crude inventories was in part undercut by indications that product inventories fell across the board while exports picked up, a sign of resilient consumption at home and

Read More »

South Sudan Asks Crude Producers for $2.5B Pre-Payment

South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd. In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months. The two companies were in consortia with Petronas before the Malaysian multinational abandoned its assets in South Sudan, which were subsequently confiscated by the state-owned Nile Petroleum Corp. “We hope the agreement will be worked within one month from the date of receipt of this letter,” according to both leaked documents, which the ministry confirmed as authentic.  Both companies were not readily available to comment. The ministry said the leak “constitutes a gross violation of government confidentiality, ethics, and national security protocols.” State coffers in South Sudan — which relies on crude exports for more than 90% of government revenue — have run dry as a war in neighboring Sudan froze nearly the nation’s entire export. 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.

Read More »

2.4-GW New Jersey offshore wind project canceled by developer

An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing that the company’s 2.4-GW offshore wind project, Leading Light Wind, is canceled. Invenergy “has determined it cannot move forward with the project under the terms and conditions set out” when the BPU awarded it offshore wind renewable energy certificates in January of last year, the filing said. Invenergy “regrets this decision … and looks to the future for possible solicitations.” “The [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,” the filing said. Invenergy says it’s North America’s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030.  The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project’s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said. Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project. In its May filing, Invenergy said that “given ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.” The Friday filing said the company since concluded that it doesn’t see a path forward for doing so. “The Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant

Read More »

Jade Secures Preliminary Funding Deal for Mongolian CBM-to-LNG Project

Zhengzhou Langrun Intelligent Equipment Co Ltd has signed a non-binding letter of intent to provide up to $46 million (AUD 70 million) in financing for a coal bed methane (CBM)-to-liquefied natural gas (LNG) project by Jade Gas Holdings Ltd in Mongolia. The agreement is for the Red Lake gas field, part of the Australian company’s flagship project with the Mongolian government’s Erdenes Methane LLC to develop the Tavantolgoi XXXIII unconventional oil basin (TTCBM Project). Red Lake has 246 billion cubic feet of 2C gross unrisked contingent resources, according to Jade. The Chinese CBM-focused gas equipment manufacturer would fund drilling and production for the next 18 wells in the field, Jade said in a stock filing. Jade has already drilled seven Red Lake wells according to the company. The “non-dilutive financing” would also cover surface facilities for gathering, processing and liquefying gas produced from the field into LNG. The deal also includes “a low upfront capital outlay option, to be funded by future Jade revenue”, Jade said. The parties agreed to consider expanding the terms to accommodate all 175 gas production wells in Red Lake’s first-phase development. Phase 1 involves 20 production wells, including two that came online June, according to Jade. “Langrun’s expertise in the gas industry in China and in particular in CBM offers a great fit for Jade as the company seeks options to fast-track development of the Red Lake gas field and to optimize gas production for faster access to customer markets and ultimately early revenue”, Jade said. “Subject to agreement of definitive documentation, and government and regulator cooperation and other approvals, the Red Lake gas field could potentially be developed to cover purification, pipeline and other transport, compression (for potential production of CNG), liquefaction (for production of LNG), refueling station construction, enabling gas sales for vehicle,

Read More »

Var Energi Confirms Oil Discovery Near Goliat

Var Energi ASA on Thursday confirmed oil in the Zagato North appraisal well, located 10 kilometers (6.21 miles) north of its operated Goliat field on Norway’s side of the Barents Sea. Zagato North, or well 7122/8-4 S, yielded estimated gross recoverable resources of up to three million barrels of oil equivalent (MMboe) in the Klappmyss and Realgrunnen formations, according to a press release by the Stavanger, Norway-based oil and gas explorer and producer. The discovery is part of Production License 229, operated by Var Energi with a 65 percent stake with Equinor as partner holding 35 percent. It is the13th well drilled in the production license, awarded under the Barents Sea Project in 1997, the Norwegian Offshore Directorate (NOD) said separately. The partners are considering tying the discovery to existing Goliat infrastructure. The discovery had been proven February. The well aimed to delineate the 7122/8-3 S (Zagato) discovery in Lower Jurassic-Upper Triassic and Middle Triassic reservoir rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively. “Well 7122/8-4 S encountered an 11-meter [36.09 feet] oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 8.5 meters with good reservoir quality”, the NOD said. “The oil/water contact was encountered 1,523 meters below sea level. “Additional reservoir rocks were encountered in the Kobbe Formation totaling 48 meters with moderate reservoir quality, but the reservoirs were aquiferous. “An 80-meter oil column was also proven in the Klappmyss Fomation in sandstone layers totaling one meter with poor reservoir quality. The oil/water contact was not encountered. “The well was not formation-tested, but extensive data acquisition and sampling were carried out. “Appraisal well 7122/8-4 S was drilled to respective measured/vertical depths of 2986/2793 meters below sea level, and was terminated in the Klappmyss Formation in the Lower Triassic”. Zagato North, which has a

Read More »

A new kind of self-service: empowering utilities to shape their own tech

When utilities are empowered to meet their own tech needs, the whole system benefits. Across the energy industry, the idea of self-service has long been aimed at end-customers, helping them check their usage, change a tariff, or resolve an issue without calling a support team. But in an era of rapid digital transformation, a new kind of self-service is emerging: one aimed at utilities themselves.Today, it’s becoming increasingly critical that utilities must be able to serve their own tech needs, configuring their tech systems to build new products, refine processes, and connect systems without complicated, lengthy coding and other outside help. Independently configurable tech is about giving teams direct control of their tools so they can respond to challenges and innovate at speed. As grids decentralize and customer expectations rise, utilities can’t afford to get caught up in coding request tickets. Many utilities still struggle with cumbersome, disconnected and inflexible systems.  Now, fortunately, a new generation of integrated, configurable tech is here, laying the groundwork for utilities to champion their changing industry. Rigid tech is holding utilities back Clunky tech remains one of the biggest barriers to utility innovation. Many utilities still rely on a patchwork of disconnected legacy systems – for billing, metering, customer care, and field operations, to name a few. These systems are often siloed, with data held in a range of different forms and formats. Even relatively small updates – building a new rate, or tweaking a debt collection process – often demands weeks of specialist work across several siloed platforms, followed by more effort to stitch those updates together without breaking everything. This isn’t just slow and costly, it wears people down. Talented teams lose faith when they can’t fix what’s broken or move ideas forward. Empowering utilities to serve their own tech needs Bringing

Read More »

Crude Settles Higher

Oil eked out gains, rebounding slightly from the previous trading day’s sharp slump as traders weighed the outlook for a record surplus against supply risks from US sanctions. West Texas Intermediate rose 0.3% to settle under $59 a barrel after losing almost 4.2% on Wednesday, its biggest drop since June. Expectations for a long-awaited surplus were bolstered when the International Energy Agency flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by just over four million barrels a day next year.  Hours later, a US government report showed crude inventories rose 6.4 million barrels last week, the biggest increase since July and markedly higher than expected.  Both announcements came a day after producer group OPEC — which has been restoring idled capacity this year — said that global supply had topped demand in the third quarter, flipping its earlier estimate for the period from a shortfall. The bearish outlook for next year has weighed on oil prices afresh in recent days, with a key indicator — WTI’s prompt spread — sinking into contango. That pricing pattern, with the nearest contracts trading at discounts to further-out ones, signals ample short-term supplies, though it also clawed back into bearish territory on Thursday. At the same time, the Trump administration has moved to raise the pressure on Russia to end the war in Ukraine, including sanctions on Rosneft PJSC and Lukoil PJSC. With days to go until sanctions fully kick in, The Carlyle Group Inc. is exploring its options to buy Lukoil’s foreign assets, Reuters reported.  And bearish momentum on the news of rising US crude inventories was in part undercut by indications that product inventories fell across the board while exports picked up, a sign of resilient consumption at home and

Read More »

South Sudan Asks Crude Producers for $2.5B Pre-Payment

South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd. In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months. The two companies were in consortia with Petronas before the Malaysian multinational abandoned its assets in South Sudan, which were subsequently confiscated by the state-owned Nile Petroleum Corp. “We hope the agreement will be worked within one month from the date of receipt of this letter,” according to both leaked documents, which the ministry confirmed as authentic.  Both companies were not readily available to comment. The ministry said the leak “constitutes a gross violation of government confidentiality, ethics, and national security protocols.” State coffers in South Sudan — which relies on crude exports for more than 90% of government revenue — have run dry as a war in neighboring Sudan froze nearly the nation’s entire export. 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.

Read More »

2.4-GW New Jersey offshore wind project canceled by developer

An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing that the company’s 2.4-GW offshore wind project, Leading Light Wind, is canceled. Invenergy “has determined it cannot move forward with the project under the terms and conditions set out” when the BPU awarded it offshore wind renewable energy certificates in January of last year, the filing said. Invenergy “regrets this decision … and looks to the future for possible solicitations.” “The [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,” the filing said. Invenergy says it’s North America’s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030.  The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project’s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said. Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project. In its May filing, Invenergy said that “given ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.” The Friday filing said the company since concluded that it doesn’t see a path forward for doing so. “The Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant

Read More »

Jade Secures Preliminary Funding Deal for Mongolian CBM-to-LNG Project

Zhengzhou Langrun Intelligent Equipment Co Ltd has signed a non-binding letter of intent to provide up to $46 million (AUD 70 million) in financing for a coal bed methane (CBM)-to-liquefied natural gas (LNG) project by Jade Gas Holdings Ltd in Mongolia. The agreement is for the Red Lake gas field, part of the Australian company’s flagship project with the Mongolian government’s Erdenes Methane LLC to develop the Tavantolgoi XXXIII unconventional oil basin (TTCBM Project). Red Lake has 246 billion cubic feet of 2C gross unrisked contingent resources, according to Jade. The Chinese CBM-focused gas equipment manufacturer would fund drilling and production for the next 18 wells in the field, Jade said in a stock filing. Jade has already drilled seven Red Lake wells according to the company. The “non-dilutive financing” would also cover surface facilities for gathering, processing and liquefying gas produced from the field into LNG. The deal also includes “a low upfront capital outlay option, to be funded by future Jade revenue”, Jade said. The parties agreed to consider expanding the terms to accommodate all 175 gas production wells in Red Lake’s first-phase development. Phase 1 involves 20 production wells, including two that came online June, according to Jade. “Langrun’s expertise in the gas industry in China and in particular in CBM offers a great fit for Jade as the company seeks options to fast-track development of the Red Lake gas field and to optimize gas production for faster access to customer markets and ultimately early revenue”, Jade said. “Subject to agreement of definitive documentation, and government and regulator cooperation and other approvals, the Red Lake gas field could potentially be developed to cover purification, pipeline and other transport, compression (for potential production of CNG), liquefaction (for production of LNG), refueling station construction, enabling gas sales for vehicle,

Read More »

Var Energi Confirms Oil Discovery Near Goliat

Var Energi ASA on Thursday confirmed oil in the Zagato North appraisal well, located 10 kilometers (6.21 miles) north of its operated Goliat field on Norway’s side of the Barents Sea. Zagato North, or well 7122/8-4 S, yielded estimated gross recoverable resources of up to three million barrels of oil equivalent (MMboe) in the Klappmyss and Realgrunnen formations, according to a press release by the Stavanger, Norway-based oil and gas explorer and producer. The discovery is part of Production License 229, operated by Var Energi with a 65 percent stake with Equinor as partner holding 35 percent. It is the13th well drilled in the production license, awarded under the Barents Sea Project in 1997, the Norwegian Offshore Directorate (NOD) said separately. The partners are considering tying the discovery to existing Goliat infrastructure. The discovery had been proven February. The well aimed to delineate the 7122/8-3 S (Zagato) discovery in Lower Jurassic-Upper Triassic and Middle Triassic reservoir rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively. “Well 7122/8-4 S encountered an 11-meter [36.09 feet] oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 8.5 meters with good reservoir quality”, the NOD said. “The oil/water contact was encountered 1,523 meters below sea level. “Additional reservoir rocks were encountered in the Kobbe Formation totaling 48 meters with moderate reservoir quality, but the reservoirs were aquiferous. “An 80-meter oil column was also proven in the Klappmyss Fomation in sandstone layers totaling one meter with poor reservoir quality. The oil/water contact was not encountered. “The well was not formation-tested, but extensive data acquisition and sampling were carried out. “Appraisal well 7122/8-4 S was drilled to respective measured/vertical depths of 2986/2793 meters below sea level, and was terminated in the Klappmyss Formation in the Lower Triassic”. Zagato North, which has a

Read More »

A new kind of self-service: empowering utilities to shape their own tech

When utilities are empowered to meet their own tech needs, the whole system benefits. Across the energy industry, the idea of self-service has long been aimed at end-customers, helping them check their usage, change a tariff, or resolve an issue without calling a support team. But in an era of rapid digital transformation, a new kind of self-service is emerging: one aimed at utilities themselves.Today, it’s becoming increasingly critical that utilities must be able to serve their own tech needs, configuring their tech systems to build new products, refine processes, and connect systems without complicated, lengthy coding and other outside help. Independently configurable tech is about giving teams direct control of their tools so they can respond to challenges and innovate at speed. As grids decentralize and customer expectations rise, utilities can’t afford to get caught up in coding request tickets. Many utilities still struggle with cumbersome, disconnected and inflexible systems.  Now, fortunately, a new generation of integrated, configurable tech is here, laying the groundwork for utilities to champion their changing industry. Rigid tech is holding utilities back Clunky tech remains one of the biggest barriers to utility innovation. Many utilities still rely on a patchwork of disconnected legacy systems – for billing, metering, customer care, and field operations, to name a few. These systems are often siloed, with data held in a range of different forms and formats. Even relatively small updates – building a new rate, or tweaking a debt collection process – often demands weeks of specialist work across several siloed platforms, followed by more effort to stitch those updates together without breaking everything. This isn’t just slow and costly, it wears people down. Talented teams lose faith when they can’t fix what’s broken or move ideas forward. Empowering utilities to serve their own tech needs Bringing

Read More »

Crude Settles Higher

Oil eked out gains, rebounding slightly from the previous trading day’s sharp slump as traders weighed the outlook for a record surplus against supply risks from US sanctions. West Texas Intermediate rose 0.3% to settle under $59 a barrel after losing almost 4.2% on Wednesday, its biggest drop since June. Expectations for a long-awaited surplus were bolstered when the International Energy Agency flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by just over four million barrels a day next year.  Hours later, a US government report showed crude inventories rose 6.4 million barrels last week, the biggest increase since July and markedly higher than expected.  Both announcements came a day after producer group OPEC — which has been restoring idled capacity this year — said that global supply had topped demand in the third quarter, flipping its earlier estimate for the period from a shortfall. The bearish outlook for next year has weighed on oil prices afresh in recent days, with a key indicator — WTI’s prompt spread — sinking into contango. That pricing pattern, with the nearest contracts trading at discounts to further-out ones, signals ample short-term supplies, though it also clawed back into bearish territory on Thursday. At the same time, the Trump administration has moved to raise the pressure on Russia to end the war in Ukraine, including sanctions on Rosneft PJSC and Lukoil PJSC. With days to go until sanctions fully kick in, The Carlyle Group Inc. is exploring its options to buy Lukoil’s foreign assets, Reuters reported.  And bearish momentum on the news of rising US crude inventories was in part undercut by indications that product inventories fell across the board while exports picked up, a sign of resilient consumption at home and

Read More »

South Sudan Asks Crude Producers for $2.5B Pre-Payment

South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd. In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months. The two companies were in consortia with Petronas before the Malaysian multinational abandoned its assets in South Sudan, which were subsequently confiscated by the state-owned Nile Petroleum Corp. “We hope the agreement will be worked within one month from the date of receipt of this letter,” according to both leaked documents, which the ministry confirmed as authentic.  Both companies were not readily available to comment. The ministry said the leak “constitutes a gross violation of government confidentiality, ethics, and national security protocols.” State coffers in South Sudan — which relies on crude exports for more than 90% of government revenue — have run dry as a war in neighboring Sudan froze nearly the nation’s entire export. 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.

Read More »

2.4-GW New Jersey offshore wind project canceled by developer

An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing that the company’s 2.4-GW offshore wind project, Leading Light Wind, is canceled. Invenergy “has determined it cannot move forward with the project under the terms and conditions set out” when the BPU awarded it offshore wind renewable energy certificates in January of last year, the filing said. Invenergy “regrets this decision … and looks to the future for possible solicitations.” “The [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,” the filing said. Invenergy says it’s North America’s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030.  The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project’s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said. Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project. In its May filing, Invenergy said that “given ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.” The Friday filing said the company since concluded that it doesn’t see a path forward for doing so. “The Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant

Read More »

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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OpenAI’s new LLM exposes the secrets of how AI really works

ChatGPT maker OpenAI has built an experimental large language model that is far easier to understand than typical models. That’s a big deal, because today’s LLMs are black boxes: Nobody fully understands how they do what they do. Building a model that is more transparent sheds light on how LLMs work in general, helping researchers figure out why models hallucinate, why they go off the rails, and just how far we should trust them with critical tasks. “As these AI systems get more powerful, they’re going to get integrated more and more into very important domains,” Leo Gao, a research scientist at OpenAI, told MIT Technology Review in an exclusive preview of the new work. “It’s very important to make sure they’re safe.” This is still early research. The new model, called a weight-sparse transformer, is far smaller and far less capable than top-tier mass-market models like the firm’s GPT-5, Anthropic’s Claude, and Google DeepMind’s Gemini. At most it’s as capable as GPT-1, a model that OpenAI developed back in 2018, says Gao (though he and his colleagues haven’t done a direct comparison).    
But the aim isn’t to compete with the best in class (at least, not yet). Instead, by looking at how this experimental model works, OpenAI hopes to learn about the hidden mechanisms inside those bigger and better versions of the technology. It’s interesting research, says Elisenda Grigsby, a mathematician at Boston College who studies how LLMs work and who was not involved in the project: “I’m sure the methods it introduces will have a significant impact.” 
Lee Sharkey, a research scientist at AI startup Goodfire, agrees. “This work aims at the right target and seems well executed,” he says. Why models are so hard to understand OpenAI’s work is part of a hot new field of research known as mechanistic interpretability, which is trying to map the internal mechanisms that models use when they carry out different tasks. That’s harder than it sounds. LLMs are built from neural networks, which consist of nodes, called neurons, arranged in layers. In most networks, each neuron is connected to every other neuron in its adjacent layers. Such a network is known as a dense network. Dense networks are relatively efficient to train and run, but they spread what they learn across a vast knot of connections. The result is that simple concepts or functions can be split up between neurons in different parts of a model. At the same time, specific neurons can also end up representing multiple different features, a phenomenon known as superposition (a term borrowed from quantum physics). The upshot is that you can’t relate specific parts of a model to specific concepts. “Neural networks are big and complicated and tangled up and very difficult to understand,” says Dan Mossing, who leads the mechanistic interpretability team at OpenAI. “We’ve sort of said: ‘Okay, what if we tried to make that not the case?’” Instead of building a model using a dense network, OpenAI started with a type of neural network known as a weight-sparse transformer, in which each neuron is connected to only a few other neurons. This forced the model to represent features in localized clusters rather than spread them out. Their model is far slower than any LLM on the market. But it is easier to relate its neurons or groups of neurons to specific concepts and functions. “There’s a really drastic difference in how interpretable the model is,” says Gao. Gao and his colleagues have tested the new model with very simple tasks. For example, they asked it to complete a block of text that opens with quotation marks by adding matching marks at the end.  

It’s a trivial request for an LLM. The point is that figuring out how a model does even a straightforward task like that involves unpicking a complicated tangle of neurons and connections, says Gao. But with the new model, they were able to follow the exact steps the model took. “We actually found a circuit that’s exactly the algorithm you would think to implement by hand, but it’s fully learned by the model,” he says. “I think this is really cool and exciting.” Where will the research go next? Grigsby is not convinced the technique would scale up to larger models that have to handle a variety of more difficult tasks.     Gao and Mossing acknowledge that this is a big limitation of the model they have built so far and agree that the approach will never lead to models that match the performance of cutting-edge products like GPT-5. And yet OpenAI thinks it might be able to improve the technique enough to build a transparent model on a par with GPT-3, the firm’s breakthrough 2021 LLM.  “Maybe within a few years, we could have a fully interpretable GPT-3, so that you could go inside every single part of it and you could understand how it does every single thing,” says Gao. “If we had such a system, we would learn so much.”

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Google DeepMind is using Gemini to train agents inside Goat Simulator 3

Google DeepMind has built a new video-game-playing agent called SIMA 2 that can navigate and solve problems in a wide range of 3D virtual worlds. The company claims it’s a big step toward more general-purpose agents and better real-world robots.    Google DeepMind first demoed SIMA (which stands for “scalable instructable multiworld agent”) last year. But SIMA 2 has been built on top of Gemini, the firm’s flagship large language model, which gives the agent a huge boost in capability. The researchers claim that SIMA 2 can carry out a range of more complex tasks inside virtual worlds, figure out how to solve certain challenges by itself, and chat with its users. It can also improve itself by tackling harder tasks multiple times and learning through trial and error. “Games have been a driving force behind agent research for quite a while,” Joe Marino, a research scientist at Google DeepMind, said in a press conference this week. He noted that even a simple action in a game, such as lighting a lantern, can involve multiple steps: “It’s a really complex set of tasks you need to solve to progress.”
The ultimate aim is to develop next-generation agents that are able to follow instructions and carry out open-ended tasks inside more complex environments than a web browser. In the long run, Google DeepMind wants to use such agents to drive real-world robots. Marino claimed that the skills SIMA 2 has learned, such as navigating an environment, using tools, and collaborating with humans to solve problems, are essential building blocks for future robot companions. Unlike previous work on game-playing agents such as AlphaZero, which beat a Go grandmaster in 2016, or AlphaStar, which beat 99.8% of ranked human competition players at the video game StarCraft 2 in 2019, the idea behind SIMA is to train an agent to play an open-ended game without preset goals. Instead, the agent learns to carry out instructions given to it by people.
Humans control SIMA 2 via text chat, by talking to it out loud, or by drawing on the game’s screen. The agent takes in a video game’s pixels frame by frame and figures out what actions it needs to take to carry out its tasks. Like its predecessor, SIMA 2 was trained on footage of humans playing eight commercial video games, including No Man’s Sky and Goat Simulator 3, as well as three virtual worlds created by the company. The agent learned to match keyboard and mouse inputs to actions. Hooked up to Gemini, the researchers claim, SIMA 2 is far better at following instructions (asking questions and providing updates as it goes) and figuring out for itself how to perform certain more complex tasks.   Google DeepMind tested the agent inside environments it had never seen before. In one set of experiments, researchers asked Genie 3, the latest version of the firm’s world model, to produce environments from scratch and dropped SIMA 2 into them. They found that the agent was able to navigate and carry out instructions there. The researchers also used Gemini to generate new tasks for SIMA 2. If the agent failed, at first Gemini generated tips that SIMA 2 took on board when it tried again. Repeating a task multiple times in this way often allowed SIMA 2 to improve by trial and error until it succeeded, Marino said. Git gud SIMA 2 is still an experiment. The agent struggles with complex tasks that require multiple steps and more time to complete. It also remembers only its most recent interactions (to make SIMA 2 more responsive, the team cut its long-term memory). It’s also still nowhere near as good as people at using a mouse and keyboard to interact with a virtual world. Julian Togelius, an AI researcher at New York University who works on creativity and video games, thinks it’s an interesting result. Previous attempts at training a single system to play multiple games haven’t gone too well, he says. That’s because training models to control multiple games just by watching the screen isn’t easy: “Playing in real time from visual input only is ‘hard mode,’” he says. In particular, Togelius calls out GATO, a previous system from Google DeepMind, which—despite being hyped at the time—could not transfer skills across a significant number of virtual environments.  

Still, he is open-minded about whether or not SIMA 2 could lead to better robots. “The real world is both harder and easier than video games,” he says. It’s harder because you can’t just press A to open a door. At the same time, a robot in the real world will know exactly what its body can and can’t do at any time. That’s not the case in video games, where the rules inside each virtual world can differ. Others are more skeptical. Matthew Guzdial, an AI researcher at the University of Alberta, isn’t too surprised that SIMA 2 can play many different video games. He notes that most games have very similar keyboard and mouse controls: Learn one and you learn them all. “If you put a game with weird input in front of it, I don’t think it’d be able to perform well,” he says. Guzdial also questions how much of what SIMA 2 has learned would really carry over to robots. “It’s much harder to understand visuals from cameras in the real world compared to games, which are designed with easily parsable visuals for human players,” he says. Still, Marino and his colleagues hope to continue their work with Genie 3 to allow the agent to improve inside a kind of endless virtual training dojo, where Genie generates worlds for SIMA to learn in via trial and error guided by Gemini’s feedback. “We’ve kind of just scratched the surface of what’s possible,” he said at the press conference.  

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The Download: AI to measure pain, and how to deal with conspiracy theorists

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. AI is changing how we quantify pain Researchers around the world are racing to turn pain—medicine’s most subjective vital sign—into something a camera or sensor can score as reliably as blood pressure.The push has already produced PainChek—a smartphone app that scans people’s faces for tiny muscle movements and uses artificial intelligence to output a pain score—which has been cleared by regulators on three continents and has logged more than 10 million pain assessments. Other startups are beginning to make similar inroads. The way we assess pain may finally be shifting, but when algorithms measure our suffering, does that change the way we treat it? Read the full story.
—Deena Mousa This story is from the latest print issue of MIT Technology Review magazine, which is full of fascinating stories about our bodies. If you haven’t already, subscribe now to receive future issues once they land.
How to help friends and family dig out of a conspiracy theory black hole —Niall Firth  Someone I know became a conspiracy theorist seemingly overnight. It was during the pandemic. They suddenly started posting daily on Facebook about the dangers of covid vaccines and masks, warning of an attempt to control us.As a science and technology journalist, I felt that my duty was to respond. I tried, but all I got was derision. Even now I still wonder: Are there things I could have done differently to talk them back down and help them see sense?  I gave Sander van der Linden, professor of social psychology in society at the University of Cambridge, a call to ask: What would he advise if family members or friends show signs of having fallen down the rabbit hole? Read the full story. This story is part of MIT Technology Review’s series “The New Conspiracy Age,” on how the present boom in conspiracy theories is reshaping science and technology. Check out the rest of the series here. It’s also part of our How To series, giving you practical advice to help you get things done.  If you’re interested in hearing more about how to survive in the age of conspiracies, join our features editor Amanda Silverman and executive editor Niall Firth for a subscriber-exclusive Roundtable conversation with conspiracy expert Mike Rothschild. It’s at 1pm ET on Thursday November 20—register now to join us!

Google is still aiming for its “moonshot” 2030 energy goals —Casey Crownhart Last week, we hosted EmTech MIT, MIT Technology Review’s annual flagship conference in Cambridge, Massachusetts. As you might imagine, some of this climate reporter’s favorite moments came in the climate sessions. I was listening especially closely to my colleague James Temple’s discussion with Lucia Tian, head of advanced energy technologies at Google. They spoke about the tech giant’s growing energy demand and what sort of technologies the company is looking to to help meet it. In case you weren’t able to join us, let’s dig into that session and consider how the company is thinking about energy in the face of AI’s rapid rise. Read the full story. This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here. The must-reads
I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 ChatGPT is now “warmer and more conversational”But it’s also slightly more willing to discuss sexual and violent content. (The Register)+ ChatGPT has a very specific writing style. (WP $)+ The looming crackdown on AI companionship. (MIT Technology Review)
2 The US could deny visas to visitors with obesity, cancer or diabetesAs part of its ongoing efforts to stem the flow of people trying to enter the country. (WP $)3 Microsoft is planning to create its own AI chipAnd it’s going to use OpenAI’s internal chip-building plans to do it. (Bloomberg $)+ The company is working on a colossal data center in Atlanta. (WSJ $) 4 Early AI agent adopters are convinced they’ll see a return on their investment soon Mind you, they would say that. (WSJ $)+ An AI adoption riddle. (MIT Technology Review)5 Waymo’s robotaxis are hitting American highwaysUntil now, they’ve typically gone out of their way to avoid them. (The Verge)+ Its vehicles will now reach speeds of up to 65 miles per hour. (FT $)+ Waymo is proving long-time detractor Elon Musk wrong. (Insider $) 6 A new Russian unit is hunting down Ukraine’s drone operatorsIt’s tasked with killing the pilots behind Ukraine’s successful attacks. (FT $)+ US startup Anduril wants to build drones in the UAE. (Bloomberg $)+ Meet the radio-obsessed civilian shaping Ukraine’s drone defense. (MIT Technology Review) 7 Anthropic’s Claude successfully controlled a robot dogIt’s important to know what AI models may do when given access to physical systems. (Wired $) 8 Grok briefly claimed Donald Trump won the 2020 US electionAs reliable as ever, I see. (The Guardian) 9 The Northern Lights are playing havoc with satellitesSolar storms may look spectacular, but they make it harder to keep tabs on space. (NYT $)+ Seriously though, they look amazing. (The Atlantic $)+ NASA’s new AI model can predict when a solar storm may strike. (MIT Technology Review)
10 Apple users can now use digital versions of their passportsBut it’s strictly for internal flights within the US only. (TechCrunch) Quote of the day “I hope this mistake will turn into an experience.”
—Vladimir Vitukhin, chief executive of the company behind Russia’s first anthropomorphic robot AIDOL, offers a philosophical response to the machine falling flat on its face during a reveal event, the New York Times reports. One more thing Welcome to the oldest part of the metaverseHeadlines treat the metaverse as a hazy dream yet to be built. But if it’s defined as a network of virtual worlds we can inhabit, its oldest corner has been already running for 25 years.It’s a medieval fantasy kingdom created for the online role-playing game Ultima Online. It was the first to simulate an entire world: a vast, dynamic realm where players could interact with almost anything, from fruit on trees to books on shelves.Ultima Online has already endured a quarter-century of market competition, economic turmoil, and political strife. So what can this game and its players tell us about creating the virtual worlds of the future? Read the full story.  —John-Clark Levin 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.) + Unlikely duo Sting and Shaggy are starring together in a New York musical.+ Barry Manilow was almost in Airplane!? That would be an entirely different kind of flying, altogether ✈️+ What makes someone sexy? Well, that depends.+ Keep an eye on those pink dolphins, they’re notorious thieves.

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Google is still aiming for its “moonshot” 2030 energy goals

Last week, we hosted EmTech MIT, MIT Technology Review’s annual flagship conference in Cambridge, Massachusetts. Over the course of three days of main-stage sessions, I learned about innovations in AI, biotech, and robotics.  But as you might imagine, some of this climate reporter’s favorite moments came in the climate sessions. I was listening especially closely to my colleague James Temple’s discussion with Lucia Tian, head of advanced energy technologies at Google.  They spoke about the tech giant’s growing energy demand and what sort of technologies the company is looking to to help meet it. In case you weren’t able to join us, let’s dig into that session and consider how the company is thinking about energy in the face of AI’s rapid rise.  I’ve been closely following Google’s work in energy this year. Like the rest of the tech industry, the company is seeing ballooning electricity demand in its data centers. That could get in the way of a major goal that Google has been talking about for years. 
See, back in 2020, the company announced an ambitious target: by 2030, it aimed to run on carbon-free energy 24-7. Basically, that means Google would purchase enough renewable energy on the grids where it operates to meet its entire electricity demand, and the purchases would match up so the electricity would have to be generated when the company was actually using energy. (For more on the nuances of Big Tech’s renewable-energy pledges, check out James’s piece from last year.) Google’s is an ambitious goal, and on stage, Tian said that the company is still aiming for it but acknowledged that it’s looking tough with the rise of AI. 
“It was always a moonshot,” she said. “It’s something very, very hard to achieve, and it’s only harder in the face of this growth. But our perspective is, if we don’t move in that direction, we’ll never get there.” Google’s total electricity demand more than doubled from 2020 to 2024, according to its latest Environmental Report. As for that goal of 24-7 carbon-free energy? The company is basically treading water. While it was at 67% for its data centers in 2020, last year it came in at 66%.  Not going backwards is something of an accomplishment, given the rapid growth in electricity demand. But it still leaves the company some distance away from its finish line. To close the gap, Google has been signing what feels like constant deals in the energy space. Two recent announcements that Tian talked about on stage were a project involving carbon capture and storage at a natural-gas plant in Illinois and plans to reopen a shuttered nuclear power plant in Iowa.  Let’s start with carbon capture. Google signed an agreement to purchase most of the electricity from a new natural-gas plant, which will capture and store about 90% of its carbon dioxide emissions.  That announcement was controversial, with critics arguing that carbon capture keeps fossil-fuel infrastructure online longer and still releases greenhouse gases and other pollutants into the atmosphere.  One question that James raised on stage: Why build a new natural-gas plant rather than add equipment to an already existing facility? Tacking on equipment to an operational plant would mean cutting emissions from the status quo, rather than adding entirely new fossil-fuel infrastructure.  The company did consider many existing plants, Tian said. But, as she put it, “Retrofits aren’t going to make sense everywhere.” Space can be limited at existing plants, for example, and many may not have the right geology to store carbon dioxide underground. 

“We wanted to lead with a project that could prove this technology at scale,” Tian said. This site has an operational Class VI well, the type used for permanent sequestration, she added, and it also doesn’t require a big pipeline buildout.  Tian also touched on the company’s recent announcement that it’s collaborating with NextEra Energy to reopen Duane Arnold Energy Center, a nuclear power plant in Iowa. The company will purchase electricity from that plant, which is scheduled to reopen in 2029.  As I covered in a story earlier this year, Duane Arnold was basically the final option in the US for companies looking to reopen shuttered nuclear power plants. “Just a few years back, we were still closing down nuclear plants in this country,” Tian said on stage.  While each reopening will look a little different, Tian highlighted the groups working to restart the Palisades plant in Michigan, which was the first reopening to be announced, last spring. “They’re the real heroes of the story,” she said. I’m always interested to get a peek behind the curtain at how Big Tech is thinking about energy. I’m skeptical but certainly interested to see how Google’s, and the rest of the industry’s, goals shape up over the next few years.  This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here.

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The Download: how to survive a conspiracy theory, and moldy cities

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. What it’s like to be in the middle of a conspiracy theory (according to a conspiracy theory expert) —Mike Rothschild is a journalist and an expert on the growth and impact of conspiracy theories and disinformation.It’s something of a familiar cycle by now: Tragedy hits; rampant misinformation and conspiracy theories follow. It’s often even more acute in the case of a natural disaster, when conspiracy theories about what “really” caused the calamity run right into culture-war-driven climate change denialism. Put together, these theories obscure real causes while elevating fake ones.I’ve studied these ideas extensively, having spent the last 10 years writing about conspiracy theories and disinformation as a journalist and researcher. I’ve covered everything from the rise of QAnon to whether Donald Trump faked his assassination attempt. I’ve written three books, testified to Congress, and even written a report for the January 6th Committee.  Still, I’d never lived it. Not until my house in Altadena, California, burned down. Read the full story.
This story is part of MIT Technology Review’s series “The New Conspiracy Age,” on how the present boom in conspiracy theories is reshaping science and technology. Check out the rest of the series here. It’s also featured in this week’s MIT Technology Review Narrated podcast, which we publish each week on Spotify and Apple Podcasts.  If you’d like to hear more from Mike, he’ll be joining our features editor Amanda Silverman and executive editor Niall Firth for a subscriber-exclusive Roundtable conversation exploring how we can survive in the age of conspiracies. It’s at 1pm ET on Thursday November 20—register now to join us!
This startup thinks slime mold can help us design better cities It is a yellow blob with no brain, yet some researchers believe a curious organism known as slime mold could help us build more resilient cities.Humans have been building cities for 6,000 years, but slime mold has been around for 600 million. The team behind a new startup called Mireta wants to translate the organism’s biological superpowers into algorithms that might help improve transit times, alleviate congestion, and minimize climate-related disruptions in cities worldwide. Read the full story. —Elissaveta M. Brandon This story is from the latest print issue of MIT Technology Review magazine, which is full of fascinating stories about our bodies. If you haven’t already, subscribe now to receive future issues once they land. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology.

1 US government officials are skipping COP30And American corporate executives are following their lead. (NYT $)+ Protestors stormed the climate talks in Brazil. (The Guardian)+ Gavin Newsom took aim at Donald Trump’s climate policies onstage. (FT $) 2 The UK may assess AI models for their ability to generate CSAMIts government has suggested amending a legal bill to enable the tests. (BBC)+ US investigators are using AI to detect child abuse images made by AI. (MIT Technology Review) 3 Google is suing a group of Chinese hackersIt claims they’re selling software to enable criminal scams. (FT $)+ The group allegedly sends colossal text message phishing attacks. (CBS News)4 A major ‘cryptoqueen’ criminal has been jailedQian Zhimin used money stolen from Chinese pensioners to buy cryptocurrency now worth billions. (BBC)+ She defrauded her victims through an elaborate ponzi scheme. (CNN) 5 Carbon capture’s creators fear it’s being misusedOverreliance on the method could breed overconfidence and cause countries to delay reducing emissions. (Bloomberg $)+ Big Tech’s big bet on a controversial carbon removal tactic. (MIT Technology Review) 6 The UK will use AI to phase out animal testing3D bioprinted human tissues could also help to speed up the process. (The Guardian)+ But the AI boom is looking increasingly precarious. (WSJ $) 7 Louisiana is dealing with a whooping cough outbreakTwo infants have died to date from the wholly preventative disease. (Undark) 8 Here’s how ordinary people use ChatGPTEmotional support and discussions crop up regularly.(WP $)+ It’s surprisingly easy to stumble into a relationship with an AI chatbot. (MIT Technology Review) 9 Inside the search for lost continentsA newly-discovered mechanism is shedding light on why they may have vanished. (404 Media)+ How environmental DNA is giving scientists a new way to understand our world. (MIT Technology Review)
10 AI is taking Gen Z’s entry-level jobsEspecially in traditionally graduate-friendly consultancies. (NY Mag $)+ What the Industrial Revolution can teach us about how to handle AI. (Knowable Magazine)+ America’s corporate boards are stumbling in the dark. (WSJ $)
Quote of the day “We can’t eat money.” —Nato, an Indigenous leader from the Tupinamba community, tells Reuters why they are protesting at the COP30 climate summit in Brazil against any potential sale of their land. One more thing How K-pop fans are shaping elections around the globeBack in the early ‘90s, Korean pop music, known as K-pop, was largely conserved to its native South Korea. It’s since exploded around the globe into an international phenomenon, emphasizing choreography and elaborate performance.It’s made bands like Girls Generation, EXO, BTS, and Blackpink into household names, and inspired a special brand of particularly fierce devotion in their fans.Now, those same fandoms have learned how to use their digital skills to advocate for social change and pursue political goals—organizing acts of civil resistance, donating generously to charity, and even foiling white supremacist attempts to spread hate speech. Read the full story.—Soo Youn
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.) + These sucker fish are having the time of their lives hitching a ride on a whale.+ Next time you fly, ditch the WiFi. I know I will.+ I love this colossal interactive gif.+ The hottest scent in perfumery right now? Smelling like a robot, apparently.

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Improving VMware migration workflows with agentic AI

In partnership withEPAM For years, many chief information officers (CIOs) looked at VMware-to-cloud migrations with a wary pragmatism. Manually mapping dependencies and rewriting legacy apps mid-flight was not an enticing, low-lift proposition for enterprise IT teams. But the calculus for such decisions has changed dramatically in a short period of time. Following recent VMware licensing changes, organizations are seeing greater uncertainty around the platform’s future. At the same time, cloud-native innovation is accelerating. According to the CNCF’s 2024 Annual Survey, 89% of organizations have already adopted at least some cloud-native techniques, and the share of companies reporting nearly all development and deployment as cloud-native grew sharply from 2023 to 2024 (20% to 24%). And market research firm IDC reports that cloud providers have become top strategic partners for generative AI initiatives. This is all happening amid escalating pressure to innovate faster and more cost-effectively to meet the demands of an AI-first future. As enterprises prepare for that inevitability, they are facing compute demands that are difficult, if not prohibitively expensive, to maintain exclusively on-premises. Download the full article.
This content was produced by Insights, the custom content arm of MIT Technology Review. It was not written by MIT Technology Review’s editorial staff. This content was researched, designed, and written by human writers, editors, analysts, and illustrators. This includes the writing of surveys and collection of data for surveys. AI tools that may have been used were limited to secondary production processes that passed thorough human review.

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Jade Secures Preliminary Funding Deal for Mongolian CBM-to-LNG Project

Zhengzhou Langrun Intelligent Equipment Co Ltd has signed a non-binding letter of intent to provide up to $46 million (AUD 70 million) in financing for a coal bed methane (CBM)-to-liquefied natural gas (LNG) project by Jade Gas Holdings Ltd in Mongolia. The agreement is for the Red Lake gas field, part of the Australian company’s flagship project with the Mongolian government’s Erdenes Methane LLC to develop the Tavantolgoi XXXIII unconventional oil basin (TTCBM Project). Red Lake has 246 billion cubic feet of 2C gross unrisked contingent resources, according to Jade. The Chinese CBM-focused gas equipment manufacturer would fund drilling and production for the next 18 wells in the field, Jade said in a stock filing. Jade has already drilled seven Red Lake wells according to the company. The “non-dilutive financing” would also cover surface facilities for gathering, processing and liquefying gas produced from the field into LNG. The deal also includes “a low upfront capital outlay option, to be funded by future Jade revenue”, Jade said. The parties agreed to consider expanding the terms to accommodate all 175 gas production wells in Red Lake’s first-phase development. Phase 1 involves 20 production wells, including two that came online June, according to Jade. “Langrun’s expertise in the gas industry in China and in particular in CBM offers a great fit for Jade as the company seeks options to fast-track development of the Red Lake gas field and to optimize gas production for faster access to customer markets and ultimately early revenue”, Jade said. “Subject to agreement of definitive documentation, and government and regulator cooperation and other approvals, the Red Lake gas field could potentially be developed to cover purification, pipeline and other transport, compression (for potential production of CNG), liquefaction (for production of LNG), refueling station construction, enabling gas sales for vehicle,

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Var Energi Confirms Oil Discovery Near Goliat

Var Energi ASA on Thursday confirmed oil in the Zagato North appraisal well, located 10 kilometers (6.21 miles) north of its operated Goliat field on Norway’s side of the Barents Sea. Zagato North, or well 7122/8-4 S, yielded estimated gross recoverable resources of up to three million barrels of oil equivalent (MMboe) in the Klappmyss and Realgrunnen formations, according to a press release by the Stavanger, Norway-based oil and gas explorer and producer. The discovery is part of Production License 229, operated by Var Energi with a 65 percent stake with Equinor as partner holding 35 percent. It is the13th well drilled in the production license, awarded under the Barents Sea Project in 1997, the Norwegian Offshore Directorate (NOD) said separately. The partners are considering tying the discovery to existing Goliat infrastructure. The discovery had been proven February. The well aimed to delineate the 7122/8-3 S (Zagato) discovery in Lower Jurassic-Upper Triassic and Middle Triassic reservoir rocks in the Realgrunnen Subgroup and the Kobbe Formation respectively. “Well 7122/8-4 S encountered an 11-meter [36.09 feet] oil column in the Tubaen Formation in the Realgrunnen Subgroup in reservoir rocks totaling 8.5 meters with good reservoir quality”, the NOD said. “The oil/water contact was encountered 1,523 meters below sea level. “Additional reservoir rocks were encountered in the Kobbe Formation totaling 48 meters with moderate reservoir quality, but the reservoirs were aquiferous. “An 80-meter oil column was also proven in the Klappmyss Fomation in sandstone layers totaling one meter with poor reservoir quality. The oil/water contact was not encountered. “The well was not formation-tested, but extensive data acquisition and sampling were carried out. “Appraisal well 7122/8-4 S was drilled to respective measured/vertical depths of 2986/2793 meters below sea level, and was terminated in the Klappmyss Formation in the Lower Triassic”. Zagato North, which has a

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A new kind of self-service: empowering utilities to shape their own tech

When utilities are empowered to meet their own tech needs, the whole system benefits. Across the energy industry, the idea of self-service has long been aimed at end-customers, helping them check their usage, change a tariff, or resolve an issue without calling a support team. But in an era of rapid digital transformation, a new kind of self-service is emerging: one aimed at utilities themselves.Today, it’s becoming increasingly critical that utilities must be able to serve their own tech needs, configuring their tech systems to build new products, refine processes, and connect systems without complicated, lengthy coding and other outside help. Independently configurable tech is about giving teams direct control of their tools so they can respond to challenges and innovate at speed. As grids decentralize and customer expectations rise, utilities can’t afford to get caught up in coding request tickets. Many utilities still struggle with cumbersome, disconnected and inflexible systems.  Now, fortunately, a new generation of integrated, configurable tech is here, laying the groundwork for utilities to champion their changing industry. Rigid tech is holding utilities back Clunky tech remains one of the biggest barriers to utility innovation. Many utilities still rely on a patchwork of disconnected legacy systems – for billing, metering, customer care, and field operations, to name a few. These systems are often siloed, with data held in a range of different forms and formats. Even relatively small updates – building a new rate, or tweaking a debt collection process – often demands weeks of specialist work across several siloed platforms, followed by more effort to stitch those updates together without breaking everything. This isn’t just slow and costly, it wears people down. Talented teams lose faith when they can’t fix what’s broken or move ideas forward. Empowering utilities to serve their own tech needs Bringing

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Crude Settles Higher

Oil eked out gains, rebounding slightly from the previous trading day’s sharp slump as traders weighed the outlook for a record surplus against supply risks from US sanctions. West Texas Intermediate rose 0.3% to settle under $59 a barrel after losing almost 4.2% on Wednesday, its biggest drop since June. Expectations for a long-awaited surplus were bolstered when the International Energy Agency flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by just over four million barrels a day next year.  Hours later, a US government report showed crude inventories rose 6.4 million barrels last week, the biggest increase since July and markedly higher than expected.  Both announcements came a day after producer group OPEC — which has been restoring idled capacity this year — said that global supply had topped demand in the third quarter, flipping its earlier estimate for the period from a shortfall. The bearish outlook for next year has weighed on oil prices afresh in recent days, with a key indicator — WTI’s prompt spread — sinking into contango. That pricing pattern, with the nearest contracts trading at discounts to further-out ones, signals ample short-term supplies, though it also clawed back into bearish territory on Thursday. At the same time, the Trump administration has moved to raise the pressure on Russia to end the war in Ukraine, including sanctions on Rosneft PJSC and Lukoil PJSC. With days to go until sanctions fully kick in, The Carlyle Group Inc. is exploring its options to buy Lukoil’s foreign assets, Reuters reported.  And bearish momentum on the news of rising US crude inventories was in part undercut by indications that product inventories fell across the board while exports picked up, a sign of resilient consumption at home and

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South Sudan Asks Crude Producers for $2.5B Pre-Payment

South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd. In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months. The two companies were in consortia with Petronas before the Malaysian multinational abandoned its assets in South Sudan, which were subsequently confiscated by the state-owned Nile Petroleum Corp. “We hope the agreement will be worked within one month from the date of receipt of this letter,” according to both leaked documents, which the ministry confirmed as authentic.  Both companies were not readily available to comment. The ministry said the leak “constitutes a gross violation of government confidentiality, ethics, and national security protocols.” State coffers in South Sudan — which relies on crude exports for more than 90% of government revenue — have run dry as a war in neighboring Sudan froze nearly the nation’s entire export. 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.

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2.4-GW New Jersey offshore wind project canceled by developer

An attorney representing Invenergy told the New Jersey Board of Public Utilities in a Friday filing that the company’s 2.4-GW offshore wind project, Leading Light Wind, is canceled. Invenergy “has determined it cannot move forward with the project under the terms and conditions set out” when the BPU awarded it offshore wind renewable energy certificates in January of last year, the filing said. Invenergy “regrets this decision … and looks to the future for possible solicitations.” “The [BPU] is well aware that the offshore wind industry has experienced economic and regulatory conditions that have made the development of new offshore wind energy projects extremely difficult,” the filing said. Invenergy says it’s North America’s largest privately-held developer, owner and operator of clean energy solutions, with 36 GW of projects under its belt. Leading Light Wind was being developed off the coast of New Jersey and was set to become operational in 2030.  The filing cites financial, supply chain and regulatory obstacles as reasons the project is no longer viable. Invenergy and the project’s co-sponsor, energyRe, sought several delays from the BPU as they failed to meet filing deadlines due to issues like an inability to find a turbine supplier, it said. Invenergy was granted a stay last September, then extended that stay three more times before filing about its intention to abandon the project. In its May filing, Invenergy said that “given ongoing market and policy uncertainty, Leading Light Wind will continue to focus on meeting its lease obligations.” The Friday filing said the company since concluded that it doesn’t see a path forward for doing so. “The Company has invested considerable time and financial resources in the development of [Leading Light Wind] and remains firmly of the view that [Leading Light Wind], and offshore wind energy development, can provide significant

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