US judge dismisses Michigan climate lawsuit against oil companies
The US court dismissed a?antitrust suit in which Michigan accused the four major oil companies of colluding to?prevent competition in renewable energy, including electric cars, on Tuesday. This decision was in line with previous rulings in similar situations. US District Judge Jane Beckering, in Grand Rapids, rejected the lawsuit that Michigan Attorney General Dana Nessel filed in January against BP and Exxon, Shell, Chevron. The judge said that antitrust laws do not protect against any of the damages for which Michigan sought to seek a remedy except for overcharges on energy.
Nth Cycle signs $1 billion mineral offtake agreement with Glencore before public listing
Nth Cycle, a US metals refinery startup, has signed an offtake agreement worth $1 billion with Glencore. The deal is to supply the commodities giant with minerals such as lithium and other essential minerals extracted from used batteries. The US battery recycling industry is awash with deals for 10 years, as governments and companies race to secure domestic resources of minerals essential for electric vehicle batteries. The agreement was signed at Glencore offices in New York on Tuesday, the first time it has been reported. This is at a moment when critical minerals will be a focus of this week's United Nations General Assembly.
US Russia sanctions bill reduces tariffs on China, India
The U.S. Senate on Tuesday released an updated version of the Russia sanctions legislation, championed?by the late Senator Lindsey Graham. This revised bill eases the original proposal?s?tariff?threat to China, India, and other importers?of Russian oil and gas. The bill, which is supported by both Republican senators and Democratic Senators, aims to impose sanctions against Russian officials, and use tariffs as a way to pressure China and India into reducing their dependency on Russia as a supplier of energy. Graham, who passed away suddenly on Saturday…
US Russia sanctions bill reduces tariffs on China, India
The Republican and Democratic U.S. Senators unveiled a revised version of the 'Russian sanctions legislation' championed by late Senator Lindsey Graham. They sought to impose sanctions on Russian officials, and to use tariffs to pressurize China and India into reducing their dependency on Russian oil and natural gas. Graham, who passed away suddenly on Saturday had announced just one day before that he and Republican?President Donald Trump had agreed to push forward the bill more than a full year after it was first introduced. Senate aides reported that the bill had 26 co-sponsors, including both Republicans and Democrats. They expected to see more in a few hours.
Sources: Haleon is among the bidders for Thorne supplements manufacturer
Haleon, a consumer health company, bid on Thorne U.S. Supplements firm, according to sources. This was done at a moment when Haleon hoped to expand into the approximately $70 billion U.S. Haleon, a consumer health company, bid for Thorne U.S. supplements firm on Friday. This was at a time when Haleon was hoping to expand in the roughly $70 billion?U.S. market. Thorne is a private equity firm owned by LVMH, L Catterton, that was acquired in 2023 for $680'million. Investment bankers have been exploring a possible sale and have?attracted strategic interests, including a Haleon bid, according to two sources familiar with the situation. Thorne declined to comment.
Dominion exceeds its quarterly profit expectations on increased Virginia power demand
Dominion Energy, a U.S. utility company, beat Wall Street's first-quarter profit estimates on Friday due to higher demand for power in Virginia. Data centers are expected to increase electricity consumption in the U.S. in the coming two years as they break out of a two-decade period of flat demand. The S&P 500 index tracking utilities increased 7.5% in the quarter ending March 31. The segment's operating profit rose by 19.4% in the first quarter to $670 millions. However, the segment's South Carolina segment saw a decline of?17.1%, to $126million. Richmond-based Dominion Energy said that it had contracted almost 51 gigawatts of data center capacity by March.
Suniva, a US solar cell manufacturer, invests $350 million to expand in South Carolina
Suniva, a U.S.-based solar manufacturer, announced on Tuesday that it would invest $350 millions?into a South Carolina cellular factory. Production will begin in early 2027. The new facility represents a significant expansion of the United States’ capacity to produce solar cells. These are?the building blocks that make up solar panels, which convert sunlight into electricity. Suniva stated that the project is scheduled to open during the second quarter 2027, and it will create over 550 new jobs. Due to the new U.S. policy that prohibits Chinese factories from obtaining federal tax credits for clean energy, American-made solar panel components and their components are in high demand.
First Solar shares fall after poor sales forecast amid policy uncertainties
On Wednesday, shares of First 'Solar' fell 12.8% and reached their lowest level since September last year. The company had forecast sales that were below Wall Street estimates due to uncertainty in the U.S. political environment as well as delays with permits under the Trump administration. According to data compiled and analyzed by LSEG, the solar panel manufacturer said on Tuesday that it expects its 2026 net sales will be between $4.9 billion and $5.2 billion. This compares to an average analyst estimate of $6 billion. In a Tuesday post-earnings call, executives said that they expect a total impact from tariffs of between $125 and $135 million for this year.
First Solar shares fall after weak sales forecast amid policy uncertainties
First Solar shares fell 16.7% on Wednesday in premarket trade after the company predicted annual sales below Wall Street expectations due to uncertainty and delays caused by the Trump administration's U.S. policies. According to LSEG data, the'solar 'panel manufacturer expects its net sales in 2026 to range between $4.9 and $5.2 billion. This compares to an average analyst estimate of $6 billion. Solar industry is facing tariff pressures and a halt on major project approvals under the current administration. This is part of a new agenda that focuses on coal, oil, and nuclear energy, diverging from Joe Biden's green policies.
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills. MP Materials has ambitious plans for producing magnets in the next few years. This is backed by a deal signed with the U.S. Government that included billions of dollars.
Utility Duke Energy sells Tennessee Natural Gas Business for $2.48 Billion
Duke Energy announced on Tuesday that it will sell its Tennessee Natural Gas Distribution business to Spire, for $2.48 Billion in cash. The utility is looking to streamline operations while releasing capital to invest in upgrades to the electric grid. The company stated that approximately $800 million will be used to reduce debt at Piedmont Natural Gas. The remaining $1.5 billion is expected to support Duke's five-year $83 billion capital plan focusing on grid modernization, energy transition and grid modernization. Dumoulin Smith said that this simplification would improve operational efficiency as Duke Energy navigates through its energy transition strategy.
South Carolina's Republican Governor asks that Trump's offshore drilling plan exclude South Carolina
The Republican Governor of South Carolina appealed Monday to the Trump Administration to exclude his state from an impending plan for offshore oil and natural gas production. The letter was sent as the Administration wrapped up a 45 day request for public input on a federal offshore leasing program. This could include new zones, such as in the Arctic or elsewhere, to maximize domestic energy production. The current plan for five years, which was developed by former president Joe Biden's administration, only includes three sales of rights to develop oil and gas in the Gulf of Mexico. Congress mandated five-year offshore leasing programs have had between 11 and 40 sales in the past.
US to develop AI on Energy Department Lands
On Thursday, the administration of Donald Trump announced that it had identified 16 sites in the U.S. Department of Energy where data centers and energy plants to support artificial intelligence could be built. The rapid growth of AI has led to a boom in the demand for power in the United States, which is unprecedented in 20 years. Big Tech companies and utilities are scrambling to build data centers and new power plants. The DOE stated that the potential sites were positioned to allow rapid construction of data centers, with in-place infrastructure and the ability for fast-tracking permits for new energy production such as nuclear reactors.
US Supreme Court dismisses state climate lawsuits against oil companies
The U.S. Supreme Court on Monday rejected a bid from 19 Republican-led state led by Alabama, to stop five Democratic-led state from pursuing lawsuits against major oil companies for deceiving public about the role that fossil fuels played in climate change. The justices refused to hear a case filed directly at the Supreme Court by Republican attorneys general. This case targeted cases filed against Exxon Mobil and other companies such as Chevron, ConocoPhillips Shell, BP, Shell, ConocoPhillips. These lawsuits were brought by California, Connecticut Minnesota, New Jersey, and Rhode Island. The Supreme Court hears appeals from lower courts in almost all cases.
Sources say that Tesla's former China plant head will join renewable energy company Envision
Two sources with knowledge of the situation said that Tesla's former China Plant Manager is expected to join Chinese renewable energy company Envision. One source said that Song Gang, who announced Wednesday his departure from Tesla, will be taking on supply chain management duties for Envision. Envision and Song didn't immediately respond to separate comments. Tesla did not reply to a question about Song's departure. Envision, headquartered in Shanghai, is the largest wind turbine company in the world. It also has research centers in Denmark, the U.S. and Germany.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Government Shutdown: Atlantic Seismic Permitting Blocked by Judge
A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration's energy agenda.Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to a motion filed by a range of conservation and business groups and coastal cities opposed to the adminstration's efforts to expand U.S. offshore drilling.The Justice Department had sought a delay in the court proceedings arguing that it did not have the resources it needed to work on the case during the shutdown.Gergel said in his decision that he would grant the stay…
U.S. Oil Firms Restoring Operations in Storm-tossed Gulf of Mexico
Oil producers on Thursday were checking Gulf of Mexico production platforms and beginning to return crews to more than 90 offshore facilities evacuated this week as Hurricane Michael moved through the Gulf.Production shut-ins that temporarily halted 42 percent of Gulf oil output and nearly a third of natural gas production was restarting in some areas.BP Plc conducted its first flyovers on Wednesday to check the status of four platforms that were evacuated, said spokesman Jason Ryan.Restarting production can take several days. Producers lost about 1.7 million barrels of oil through Wednesday as a result of shut-ins and the figure is expected to rise.
U.S. Approves Williams' Atlantic Sunrise Natgas Pipe for Service
U.S. federal energy regulators on Thursday approved a request by Williams Cos Inc's Transcontinental Gas Pipe Line Co (Transco) unit to put the Atlantic Sunrise natural gas pipeline from Pennsylvania to South Carolina into service.The U.S. Federal Energy Regulatory Commission (FERC) said in a filing approving the startup of the nearly $3 billion project that Transco has "adequately stabilized the areas disturbed by construction and that restoration is proceeding satisfactorily."Atlantic Sunrise is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania…