** The White House could suspend summertime blending rules applying to all grades of gasoline in an effort to combat high prices at the pump, reported Reuters. The rules, which help reduce smog in the hotter months, require refiners and blenders to avoid lower-cost butane during the summer, though the sources said a final decision has not been made yet.
** The Treasury Department is expected to renew Chevron Corp.’s license to operate in Venezuela, returning the oil major to some of the terms it had with the country in 2020, which did not limit the company’s drilling, processing or shipping from Venezuela.
** U.S. climate envoy John Kerry told the World Economic Forum on Tuesday that the global energy crisis wrought by the war in Ukraine should not deepen the world’s dependence on fossil fuels causing climate change.
** The SEC just fined investment adviser BNY Mellon $1.5 million for allegedly misstating and omitting information.
** The upcoming Atlantic hurricane season is likely to be another unusually active one, according to the new National Oceanic and Atmospheric Administration outlook.
** TotalEnergies is acquiring 50% of Clearway Energy Group, a big U.S. renewable power company. It’s TotalEnergies’ biggest move yet in the U.S. renewables market, the energy giant said.
** Stellantis, parent company of Chrysler and Jeep, and Samsung are jointly investing $2.5 billion to build a large battery manufacturing plant in Indiana that’s slated to open in 2025, they said Tuesday.
** “The highest court in Massachusetts ruled Tuesday the state attorney general can pursue a civil lawsuit that accused Exxon Mobil of misleading investors about its products and their impact on the climate.”
** The U.S. Environmental Protection Agency is proposing restrictions that would hinder plans for a copper and gold mine in Alaska’s Bristol Bay region, the latest in a long-running dispute over efforts by developers to advance a mine in a region known for its salmon runs.
World
** A couple of dozen climate protesters disrupted Shell PLC’s annual general meeting on Tuesday, chanting slogans and holding banners as Shell Chair Andrew Mckenzie tried to start the meeting.
** The European Union is about to agree on a Russian oil embargo within days, Germany’s Economy Ministry Robert Habeck told media.
** Oil prices have soared past $110 a barrel since Russia’s invasion of Ukraine led to an energy crisis. Saudi Arabia’s foreign minister told the World Economic Forum that it won’t take any further action to calm markets.
** The volume of Russian crude oil currently in tankers at sea is three times higher than the pre-war average, news agency Reuters reports, citing data from energy analytics firm Vortexa.
