Latest news with #Wealth
Observer
12 hours ago
- Business
- Observer
PDO leads Oman's energy transition with breakthrough net zero projects
MUSCAT: Petroleum Development Oman (PDO), the largest producer of oil and gas in the Sultanate of Oman, is spearheading an ambitious and innovative transition toward a Net Zero future by 2050, underscoring its unwavering commitment to sustainability, energy efficiency, and climate responsibility. As published in the July edition of Wealth, a newsletter by the Ministry of Energy and Minerals, PDO's strategic roadmap reflects a clear alignment with Oman Vision 2040 and global goals for decarbonisation, as it pushes ahead with a series of integrated projects that merge energy production with significant emissions reduction. Among its most notable initiatives is a pioneering pilot project in the Dhulaima field, which marks a major milestone in carbon management and enhanced oil recovery (EOR). In a move that reflects a paradigm shift in the application of sustainable production technologies, PDO has successfully deployed carbon dioxide (CO₂) injection into the Upper Shu'aiba reservoir—an area previously considered inaccessible due to the limitations of conventional water injection and low rock permeability. The results were promising, with the CO₂ injection yielding a positive pressure response and no gas breakthrough, demonstrating both technical feasibility and reservoir stability. This pilot not only opens access to substantial untapped oil reserves but also supports emissions reduction through a carbon capture, utilisation and storage (CCUS) framework. What sets the Dhulaima project apart is its rapid and efficient execution. Delivered within just 12 months, the initiative stands as a clear example of PDO's capability to carry out complex engineering tasks with exceptional coordination and precision. The achievement also highlights the dedication and collaboration of multidisciplinary teams who delivered the project on schedule, with an exemplary safety record and zero health or environmental incidents—a hallmark of operational excellence in Oman's energy sector. In parallel with its work in CCUS and EOR, PDO is expanding its investments in renewable energy to reduce its carbon footprint across all operations. The company has set a target of generating 30 per cent of its operational energy requirements from renewable sources by 2026, a key stepping stone in its broader Net Zero strategy. Several large-scale solar projects are currently underway. Among them are Riyah-1 and Riyah-2, which, with a combined capacity of 200 megawatts, represent the first projects of their kind globally to be undertaken by an oil and gas company. Once operational in the last quarter of 2026, they are expected to offset around 740,000 tonnes of carbon dioxide emissions annually. Another major development is the North Concession photovoltaic solar project, also with a capacity of 100 megawatts and expected to be commissioned in the second quarter of 2026. This project alone will contribute to a reduction of more than 220,000 tonnes of emissions each year. Meanwhile, PDO's Amin photovoltaic solar power plant, which became operational in 2020, has already delivered a cumulative reduction of over 1.1 million tonnes of carbon dioxide emissions. The Miraah solar thermal steam generation project also continues to support clean steam supply for enhanced oil recovery, ranking among the world's largest facilities of its kind. Complementing these are smaller-scale but equally impactful initiatives such as the Dhiyaa project in Al Jazir, which supplies solar power to public buildings while promoting renewable energy awareness within local communities. At PDO's Mina Al Fahal headquarters, the company has implemented a car park solar project, now in its third phase, which contributes to the reduction of approximately 1,800 tonnes of carbon dioxide equivalent emissions annually. Equally critical to PDO's environmental strategy is the sustainable management of produced water, which presents both operational challenges and emissions concerns due to its energy-intensive disposal requirements. PDO has adopted a nature-based solution through the Nimr Wetlands project, which uses reed beds to naturally purify water With a treatment capacity of 175,000 cubic metres per day, this project not only avoids the release of 113,000 tonnes of carbon dioxide annually but also supports biodiversity, having created a desert habitat for over 140 species of birds and animals. Additionally, the Rima Water Treatment Plant, launched in 2022, employs innovative biological processes to treat around 40,000 cubic metres of water daily. This initiative has resulted in energy savings equivalent to 10 megawatts, translating into a further reduction of 48,000 tonnes of carbon dioxide emissions each year.
Bloomberg
4 days ago
- Business
- Bloomberg
Harrow Pitches $75,000 Boarding School to NYC, International Parents
Wealth Spending & Earning Harrow International School New York, an outpost of the historic British academy, will open a co-ed campus on Long Island in September.
Economic Times
5 days ago
- Business
- Economic Times
Zepto co-founder Kaivalya Vohra leads Avendus-Hurun India list of Under-30 entrepreneurs
Kaivalya Vohra, 22-year-old co-founder of Zepto, has topped the inaugural Avendus Wealth Hurun India 2025 Under-30 list of entrepreneurs released on Thursday, alongside co-founder Aadit Palicha. The list features 79 young Indian founders and leaders who are building high-impact ventures and shaping the country's economic future. ADVERTISEMENT The Under-30 list recognises startup founders under the age of 30 across a range of sectors, from software services and healthcare to logistics and consumer goods. Among those featured are AVR Shree Smaran of AVR Swarna Mahal Jewellers, Arjun Deshpande of Generic Aadhaar, Shiva Sankeshwar of Vijayanand Travels, Rahul Rawat of space tech company Digantara, and Mihir Menda of RMZ Boston. Other names include co-founders of 10-minute grocery delivery app Swish, Ujjwal Sukheja, Saran S, and Aniket Shah, highlighting sustained investor interest in quick commerce despite operational headwinds. 'This is the inaugural edition of the Uth Series, which will further see Under-35 and Under-40 lists too,' said Apurva Sahijwani, Managing Director & CEO, Avendus Wealth Management. 'We begin this initiative with the Under-30 List, which highlights some of the country's most promising and youngest leaders. These entrepreneurs are building high-impact ventures and challenging conventional paths to success.'Only six women entrepreneurs feature in this edition, including Devanshi Kejriwal, Radhika Ambani, Ananya Birla, Vrushali Prasade, and Romita Mazumdar, working across AI healthcare, edtech, pharmaceuticals, microfinance, marketing tech, and beauty. Devika Gholap, 28, is the youngest woman in the cohort and is 'driving innovation in digital pathology via OptraSCAN.'Software Products & Services emerged as the most represented sector with 21 entrepreneurs, with ventures such as Perplexity, Zupee, and Pixis. Consumer Goods followed with 12 entrepreneurs, while Financial Services contributed 9, including leaders from BharatPe and Svatantra Microfin. ADVERTISEMENT Mumbai led the city-wise tally with 15 entrepreneurs, reaffirming its position as India's financial hub. Bengaluru followed with 14 and Gurugram with 7. According to the report, the entrepreneurs featured have collectively raised more than $5 billion in equity and $270 million in startup debt. Their companies have created over 64,000 jobs, underlining the economic contribution of the youth-led startup ecosystem. Beyond capital raised, the list recognises founders for building ventures with 'social relevance, innovation, and sustainable growth.' ADVERTISEMENT 'One of the most striking shifts we've seen in recent years is the changing face of entrepreneurship in India. Today's founders are starting earlier, scaling faster and bringing a global perspective to everything they do. In the process, they are transforming industries and expanding India's presence on the world stage,' Sahijwani said. Also read | MobiKwik shares down 61% from peak, charts hint at upside till Rs 300. Should you buy? ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Zepto co-founder Kaivalya Vohra leads Avendus-Hurun India list of Under-30 entrepreneurs
Kaivalya Vohra, 22-year-old co-founder of Zepto , has topped the inaugural Avendus Wealth Hurun India 2025 Under-30 list of entrepreneurs released on Thursday, alongside co-founder Aadit Palicha. The list features 79 young Indian founders and leaders who are building high-impact ventures and shaping the country's economic future. The Under-30 list recognises startup founders under the age of 30 across a range of sectors, from software services and healthcare to logistics and consumer goods. Among those featured are AVR Shree Smaran of AVR Swarna Mahal Jewellers, Arjun Deshpande of Generic Aadhaar, Shiva Sankeshwar of Vijayanand Travels, Rahul Rawat of space tech company Digantara, and Mihir Menda of RMZ Boston. Explore courses from Top Institutes in Select a Course Category healthcare Operations Management Finance Data Analytics Cybersecurity Digital Marketing Degree PGDM Healthcare Product Management Technology others Public Policy Data Science Management CXO Others MBA MCA Project Management Artificial Intelligence Design Thinking Data Science Leadership Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Other names include co-founders of 10-minute grocery delivery app Swish, Ujjwal Sukheja, Saran S, and Aniket Shah, highlighting sustained investor interest in quick commerce despite operational headwinds. 'This is the inaugural edition of the Uth Series, which will further see Under-35 and Under-40 lists too,' said Apurva Sahijwani, Managing Director & CEO, Avendus Wealth Management. 'We begin this initiative with the Under-30 List, which highlights some of the country's most promising and youngest leaders. These entrepreneurs are building high-impact ventures and challenging conventional paths to success.' Women entrepreneurs and sectoral mix Only six women entrepreneurs feature in this edition, including Devanshi Kejriwal, Radhika Ambani, Ananya Birla, Vrushali Prasade, and Romita Mazumdar, working across AI healthcare, edtech, pharmaceuticals, microfinance, marketing tech, and beauty. Devika Gholap, 28, is the youngest woman in the cohort and is 'driving innovation in digital pathology via OptraSCAN.' Live Events Software Products & Services emerged as the most represented sector with 21 entrepreneurs, with ventures such as Perplexity, Zupee, and Pixis. Consumer Goods followed with 12 entrepreneurs, while Financial Services contributed 9, including leaders from BharatPe and Svatantra Microfin. Urban and funding landscape Mumbai led the city-wise tally with 15 entrepreneurs, reaffirming its position as India's financial hub. Bengaluru followed with 14 and Gurugram with 7. According to the report, the entrepreneurs featured have collectively raised more than $5 billion in equity and $270 million in startup debt. Their companies have created over 64,000 jobs, underlining the economic contribution of the youth-led startup ecosystem. Beyond capital raised, the list recognises founders for building ventures with 'social relevance, innovation, and sustainable growth.' 'One of the most striking shifts we've seen in recent years is the changing face of entrepreneurship in India. Today's founders are starting earlier, scaling faster and bringing a global perspective to everything they do. In the process, they are transforming industries and expanding India's presence on the world stage,' Sahijwani said. Also read | MobiKwik shares down 61% from peak, charts hint at upside till Rs 300. Should you buy?
Bloomberg
10-07-2025
- Business
- Bloomberg
AI Capex Buildup Not Going Anywhere: UBS's Hoffmann-Burchardi
Stocks have room to rise despite tariff-induced volatility, says Ulrike Hoffmann-Burchardi, UBS Global Wealth CIO Americas and Global Head of Equities, on Open Interest. (Source: Bloomberg)
