Latest news with #ISO
American Press
2 days ago
- Business
- American Press
Trump admin expands LNG authorizations in Gulf of America states
Commonwealth LNG is a LNG liquefaction and export facility located on the west bank of the Calcasieu Ship Channel at the mouth of the Gulf of Mexico near Cameron. The facility will have six 50,000 M3 modular storage tanks and will be able to accommodate vessels up to 216,000 M3. (Special to the American Press) By Bethany Blankley | The Center Square Under the Trump administration, the Department of Energy has so far issued five liquified natural gas (LNG) authorizations in the Gulf of America states of Louisiana, Texas and Florida. Under the first Trump administration, the U.S. became the largest LNG exporter in the world, led by the Gulf states of Louisiana and Texas. By 2023, Louisiana accounted for 61% of LNG exports, according to U.S. Energy Information Agency data. The new authorizations reverse Biden administration orders, including banning issuing new LNG export permits, which disproportionately negatively impacted Gulf states. 'Exporting American LNG strengthens the U.S. economy and supports American jobs while bolstering energy security around the world, and I am proud to be working with President Trump to get American energy exports back on track,' Energy Secretary Chris Wright said. The DOE's first LNG export authorization was the Commonwealth LNG project in Cameron Parish. Owned by Kimmeridge Texas Gas, LLC, its exports to non-free trade agreement countries are expected to top 1.2 billion cubic feet per day (Bcf/d) of LNG. The DOE said Commonwealth LNG exports 'are likely to yield economic benefits to the United States, diversify global LNG supplies, and improve energy security for U.S. allies and trading partners over the course of the export term through 2050.' A final authorization is expected later this year. The DOE's second authorization was issuing an 'Order on Rehearing,' reversing a Biden administration order that created greater regulatory burdens for using LNG as a marine fuel source, known as LNG bunkering. The reversal will benefit JAX LNG, a small-scale coastal LNG facility located at Dames Point near Jacksonville, Florida, impacted by the Biden-era directive. It dispenses LNG fuel to ships, including cruise ships, car carriers, petroleum tankers and container ships. The DOE withdrew exercise of its jurisdiction under the Natural Gas Act for ship-to-ship transfers of LNG for marine fuel use at a U.S. port, in U.S. waters, or in international waters, it said. It also left unchanged its authorization to JAX to export LNG via ISO container. The demand for LNG as marine fuel has increased as emissions regulations for shipping have increased. The number of LNG-fueled ships is expected to nearly double, reaching more than 1,200 vessels by 2028, according to an EIA January 2025 Quarterly Gas Report. The DOE's third LNG authorization extends an LNG export permit for Golden Pass LNG Terminal LLC, currently under construction in Sabine Pass, Texas. The project was first approved under the first Trump administration. Golden Pass, owned by QatarEnergy and ExxonMobil, is expected to begin exports this year. Once operational, it will be the ninth large-scale export terminal operating in the U.S., able to export up to 2.57 Bcf/d of LNG. The DOE's fourth authorization extended an LNG export permit for Delfin LNG LLC to construct a floating liquefied natural gas vessel off the coast of Louisiana after it was delayed by the Biden administration. Delfin, majority-owned by Fairwood Peninsula, Talisman Global Alternative Master, L.P. and Talisman Global Capital Master, L.P., is expected to reach a final investment decision later this year. The order extends the authorization date to June 1, 2029, for Delfin to begin exporting up to 1.8 Bcf/d of LNG to non-free trade agreement countries. The fifth and most recent authorization was for Port Arthur LNG Phase II in Jefferson County, Texas. Owned by Sempra Energy, it's projected to export 1.91 billion Bcf/d of LNG once completed. Port Arthur Phase I is currently under construction and expected to begin exporting LNG in 2027. Sempra also operates the Cameron LNG export terminal in Louisiana, which has been exporting LNG since 2019. It's currently constructing the Energia Costa Azul terminal in Mexico, which is slated to begin commercial export operations of U.S.-sourced LNG next year. All five authorizations bring the total volume of LNG exports to 11.45 Bcf/d, the DOE said. According to EIA's most recent Short-Term Energy Outlook, LNG exports are expected to reach record highs this year, averaging more than 15 Bcf/d, coinciding with record projected natural gas production of nearly 105 Bcf/d, led by Texas and Louisiana.
Boston Globe
4 days ago
- Business
- Boston Globe
Toys are getting pricier as tariffs kick in
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up ENERGY Advertisement Head of electric grid overseer ISO New England to retire Gordon van Welie is stepping down from ISO New England. Photo courtesy of ISO New England ISO New England chief executive Gordon van Welie is retiring on Jan. 1 after 24 years running the organization that oversees the region's electricity grid and wholesale power markets. The board of the Holyoke-based nonprofit is promoting its chief operating officer, Vamsi Chadalavada, to take over after van Welie retires. He'll oversee a staff of around 700 people and a budget of about $300 million. The organization is funded by fees from buyers and sellers in the wholesale electricity markets, as well as from companies that use regional transmission services. Van Welie first joined ISO New England in 2000 as its chief operating officer, not long after the organization was formed following the restructuring of New England's wholesale electricity markets. He has been an outspoken advocate for ensuring the grid system remains reliable even when under duress at times of extreme heat or cold, and in particular for improving coordination between the electric and natural gas industries toward that end. Van Welie, who is 63, said that while the electricity supply and demand outlook remains relatively stable for the next several years, there are changes afoot, including a new capacity market design at ISO, that make it an appropriate time to step aside and let a new leader take over. — JON CHESTO Advertisement HEALTH CARE Dr. Oz pushes drug middlemen to end rebates before Washington acts Medicare and Medicaid Administrator Mehmet Oz spoke during a news conference to discuss health insurance at the Department of Health and Human Services headquarters in Washington, D.C., on June 23. SAUL LOEB/AFP via Getty Images Prescription drug middlemen should end the complicated system of drug rebates before the government steps in to change it, Medicare and Medicaid chief Mehmet Oz said Tuesday. The remarks signal the Trump administration may revive attempts to eliminate the payments drugmakers send to pharmacy benefit managers after prescriptions are filled. In his first term in 2019, President Trump considered regulations that would have eliminated that system, but officials abandoned them before they went into effect. 'There's a possibility that we have a window now where the three big PBMs might actually consider doing away with the rebate-slash-kickback system,' Oz told a meeting hosted by Transparency-Rx, a coalition of smaller PBMs committed to more open pricing. The three largest companies in the industry, CVS Health Corp., UnitedHealth Group, and Cigna Group, handle about 80 percent of US prescriptions. Drug middlemen extract discounts from drugmakers in order to secure insurance coverage for medications. Drugmakers claim that pressure to give rebates to PBMs drives drug prices higher, while PBMs say they don't have control over setting drug prices. Oz suggested regulators and lawmakers could revamp the system 'fairly expeditiously, because there's a motivated group of people who want to do that.' Before the Trump administration regulates or Congress writes laws, Oz said it might be worth giving PBMs 'one last chance to fix it on their own.' Congress has considered bipartisan changes to how PBMs are paid in recent years, but none has become law yet. — BLOOMBERG NEWS Advertisement ECONOMY Powell reiterates Fed's wait-and-see approach before cutting rates The Marriner S. Eccles Federal Reserve building in Washington, D.C. Ting Shen/Bloomberg Jerome Powell, chair of the Federal Reserve, reaffirmed his view that the central bank can afford to be patient before cutting interest rates amid uncertainty about how President Trump's policies will impact the economy, despite a growing divide among officials about when and by how much to lower borrowing costs. Powell, who testified before the House Financial Services Committee on Tuesday, said that the Fed was in no rush to take any policy action given that the labor market remains solid, inflation is still elevated, and price pressures appear poised to intensify as a result of Trump's tariffs. 'For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,' Powell said, echoing a similar message sent last week after the Fed voted to hold rates steady for a fourth straight meeting. 'It's just a question about being prudent and careful,' he added during one exchange with a lawmaker. 'We don't see weakness in the labor market. If we did, that would change things.' He later told another lawmaker that if price pressures related to tariffs end up being less pronounced than feared, 'that'll matter for our policy.' — NEW YORK TIMES Advertisement ARTIFICIAL INTELLIGENCE Anthropic wins ruling on AI training in copyright lawsuit but must face trial on pirated books Claude, Anthropic's chatbot, accessed on a phone. JACKIE MOLLOY/NYT In a test case for the artificial intelligence industry, a federal judge has ruled that AI company Anthropic didn't break the law by training its chatbot Claude on millions of copyrighted books. But the company is still on the hook and must now go to trial over how it acquired those books by downloading them from online 'shadow libraries' of pirated copies. US District Judge William Alsup of San Francisco said in a ruling filed late Monday that the AI system's distilling from thousands of written works to be able to produce its own passages of text qualified as 'fair use' under US copyright law because it was 'quintessentially transformative.' 'Like any reader aspiring to be a writer, Anthropic's (AI large language models) trained upon works not to race ahead and replicate or supplant them — but to turn a hard corner and create something different,' Alsup wrote. But while dismissing a key claim made by the group of authors who sued the company for copyright infringement last year, Alsup also said Anthropic must still go to trial in December over its alleged theft of their works. 'Anthropic had no entitlement to use pirated copies for its central library,' Alsup wrote. — ASSOCIATED PRESS AVIATION US strikes on Iran add to global travel disruptions and flight cancellations An Emirates Boeing 777 at the gate at Dubai International Airport. Jon Gambrell/Associated Press The US entry into Israel's war with Iran caused travel disruptions to pile up globally this week — with flight cancellations continuing Tuesday, even after President Trump claimed a cease-fire was 'in effect.' Following unprecedented bombings ordered by Trump on three Iranian nuclear and military sites over the weekend, Iran on Monday launched a limited missile attack on US forces at Qatar's Al Udeid Air Base. Qatar, which was quick to condemn the attack, had temporarily closed its airspace just over an hour earlier. Airports and skies throughout the region have been on edge since Israel began the deadly war on June 13 — with a surprise barrage of attacks on Iran, which responded with its own missile and drone strikes. And in the days following the escalatory US strikes, more and more carriers canceled flights, particularly in Qatar and the United Arab Emirates, which sit just across the Persian Gulf from Iran. After a cease-fire was announced between Israel and Iran, some of those disruptions eased. But the truce appeared to be on shaky ground Tuesday, with Trump accusing both countries of violating the agreement — and many airlines have halted select routes through the middle of the week, citing safety concerns. — ASSOCIATED PRESS Advertisement
Time Business News
4 days ago
- Business
- Time Business News
Future of ISO Certification in Pakistan
As Pakistan's economy continues to evolve and integrate with global markets, the role of ISO certification is becoming increasingly significant. In 2025, businesses across industries are not only embracing ISO standards to meet compliance requirements but also using them as strategic tools for growth, innovation, and sustainability. This article explores the future of ISO certification in Pakistan, emerging trends, and key opportunities for businesses aiming to stay competitive and globally relevant. Traditionally, ISO certification in Pakistan was mostly sought after by large corporations or exporters. However, 2025 is witnessing a shift—small and medium-sized enterprises (SMEs) across sectors such as pharmaceuticals, construction, food, IT, and textiles are actively pursuing certifications like ISO 9001 (Quality), ISO 14001 (Environmental), and ISO 45001 (Occupational Health & Safety). This growing demand is driven by an increased focus on customer trust, supply chain requirements, and regulatory compliance. With Pakistan facing growing environmental challenges, certifications like ISO 14001 are gaining traction. In 2025, more companies are aligning their operations with environmental standards to reduce their carbon footprint, manage waste responsibly, and support sustainability goals. This trend is particularly strong in sectors like manufacturing, chemicals, and textiles. One of the major developments shaping the future of ISO certification is digitalization. Online training, cloud-based documentation, and virtual audits are now becoming standard practice. These digital tools are helping businesses streamline the certification process, improve record-keeping, and reduce costs. In 2025, AI-driven compliance tools and data analytics will further simplify how companies monitor performance against ISO standards. Global buyers now expect their suppliers to be ISO certified. Pakistani businesses aiming to participate in international supply chains are increasingly pursuing ISO certification to demonstrate credibility, efficiency, and quality assurance. This trend is opening doors for local businesses to enter foreign markets, particularly in the Middle East, Europe, and North America. As demand for ISO certification grows, so does the need for experienced consultants, auditors, and trainers. In 2025, there are significant opportunities for professionals who can guide companies through the certification process, help implement ISO management systems, and deliver training programs. The future of ISO certification in Pakistan is filled with potential. From enabling sustainable practices to supporting digital transformation and global competitiveness, ISO standards are becoming vital for business success. Companies that invest in certification now will not only ensure compliance but also position themselves as leaders in their industries. Looking to future-proof your business? Qdot provides expert ISO certification and consultancy services across Pakistan. Whether you need ISO 9001, ISO 14001, or ISO 45001, we deliver end-to-end support tailored to your industry. Contact us at 📧 info@ or 📞 +92 304 0749364 to get started. TIME BUSINESS NEWS
Yahoo
4 days ago
- Business
- Yahoo
Cherokee Insurance Company Selects Origami Risk's Cloud-Native Core P&C Platform to Transform Policy Admin, Billing and Claims
STERLING, Mich., June 24, 2025--(BUSINESS WIRE)--Cherokee Insurance Company, which provides a spectrum of casualty insurance coverages to transportation companies across the U.S. and Canada, today announced a major upgrade to its core processes with the selection of Origami Risk's cloud-native Software-as-a-Service (SaaS) platform for policy administration, billing and claims. "Origami's versatile, state-of-the-art solution will enable us to transform the core processes supporting all our business lines," said Brennan Lee, Executive Vice President, Cherokee Insurance. "In addition to gaining speed, efficiency and enhanced decision-making, we expect our adoption of Origami's scalable platform will enable us to deliver elevated service to our policyholders, agents and business partners throughout the U.S. and Canada." "We're pleased that Cherokee Insurance has selected our full suite of solutions, which facilitates more robust integration that will enable their teams to quickly achieve wider efficiencies across all their core processes," said Mike Kaplan, Chief Client Officer, Origami Risk. "Origami's innovative solutions have been developed to help carriers and other insurance providers drive efficiencies across critical functions, meet customer needs and improve overall performance." Origami Risk offers a full suite of end-to-end, integrated SaaS solutions for policy, rating, billing, loss control, claims administration, reporting and analytics. It also offers a full-service ISO and NCCI bureau content management solution and a comprehensive digital engagement experience for all internal and external stakeholders. About Cherokee Insurance Company For over 25 years, Cherokee Insurance Company has protected transportation businesses with our broad range of property and casualty insurance products. Cherokee is currently licensed by 47 states and the United States Department of Treasury. In addition, Cherokee's Canada Branch has Canadian federal and provincial insurance authorities. Since 2010, Cherokee's A.M. Best Company rating has been "A" (Excellent); the "A" rating is an independent opinion of Cherokee's financial strength and ability to meet ongoing insurance obligations. Cherokee currently manages over three quarters of a billion dollars of invested assets and writes over a quarter billion dollars in premiums annually. About Origami Risk Origami Risk empowers leaders in insurance, risk, and safety with a purpose-built, cloud-native platform that optimizes workflows for better data, better insights, and better collaboration. Through highly configurable solutions integrated on a single platform, Origami Risk supports the management of the full lifecycle of risk, from prevention to recovery — helping the experts reduce harm and loss, and respond more rapidly and effectively when it happens. Grounded in continuous innovation and a foundational focus on client success, Origami Risk is trusted by leading organizations to enable greater resilience as they build for the future. For more information, visit View source version on Contacts Al Modugno, 917-414-4569,
Time of India
4 days ago
- Business
- Time of India
Shri Hare-Krishna Sponge Iron IPO opens for subscription. All you need to know before subscribing
The initial public offering (IPO) of Shri Hare-Krishna Sponge Iron Ltd opens for subscription on Tuesday, June 24, 2025, and will close on Thursday, June 26. The Rs 29.91 crore IPO is entirely a fresh issue of 50.70 lakh equity shares, with a price band of Rs 56 to Rs 59 per share. Retail investors can apply for a minimum of one lot (2,000 shares). Ahead of the issue, the company raised Rs 8.5 crore from anchor investors on June 23, allocating 14.40 lakh shares. Incorporated in 2003, Shri Hare-Krishna Sponge Iron Ltd manufactures sponge iron used in steel production. Its plant, located in Raipur (Chhattisgarh), has a production capacity of 30,000 metric tonnes per annum. The facility holds ISO certifications for quality, environment, and occupational health and safety management. The Raipur-based firm plans to utilize the IPO proceeds to fund the setup of a captive power plant and for general corporate purposes. Post-issue, promoter shareholding will decline from 100% to 73.58%. For FY25, the company reported a revenue of Rs 83.6 crore and a profit after tax of Rs 9.2 crore, down 10% year-on-year. Live Events The company sells its products in Maharashtra, Madhya Pradesh, and Chhattisgarh and employs 92 full-time staff. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
