** The Biden administration will waive sanctions on the corporate entity and CEO overseeing the construction of Russia’s Nord Stream 2 pipeline into Germany, according to two sources briefed on the decision. The decision indicates the Biden administration is not willing to compromise its relationship with Germany over this pipeline and contradict’s Biden’s campaign rhetoric in which he criticized Trump for being soft on Russia.
** The offshore oil industry boat that sank last month claiming 13 lives off the coast of Louisiana had begun to lower its legs and was trying to turn to face heavy winds when it sank according to a preliminary NTSB report.
** Four Ohio lawmakers — including a Republican and two Democrats from northwest Ohio — pleaded with Michigan Gov. Gretchen Whitmer on Tuesday to back down from her effort to close the controversial Line 5 pipeline that runs along the Straits of Mackinac. So far, Governor Whitmer has given no indication she is willing to do that.
** Iran looks to begin as soon as next month crude oil exports from the Jask terminal on the Sea of Oman, without the need to have tankers travel through the Strait of Hormuz, a top industry official said on Wednesday.
** Air France-KLM flew a biofuel-powered Airbus A350 from Paris to Montreal on Tuesday, demonstrating the airline’s readiness to adopt low-emissions fuel despite deep industry divisions over the pace of its adoption.
** Top asset manager BlackRock could determine the outcome of a proxy fight between Exxon Mobil and a hedge fund seeking to reshape the oil giant’s board and future direction.
** Lexus just reached the milestone of two million units of electrified vehicles (EV) sold globally since its introduction of a hybrid vehicle in 2005, up to the end of April 2021.
** California electric vehicle startup Canoo is being investigated by the Securities and Exchange Commission over a recent merger, the company’s CEO said Monday.
** U.S. climate envoy John Kerry on Wednesday urged countries that have not yet set how they plan to limit global warming to 1.5 degrees Celsius, particularly those in Asia, to join the United States and others in doing so.
** China’s accelerated crude oil stockpiling could be coming to an end with oil at $70 and the possibility that strategic reserves are close to capacity, suggesting that the world’s largest oil importer could slow down crude builds and crude imports.
** Leading Taiwanese automotive parts supplier Hota Industrial Manufacturing is planning its first US plant as it bets demand for electric vehicles will continue to accelerate. Its plan includes building three new factories in its home market and more than tripling production capacity by 2025.
** Fossil fuel companies may become increasingly vulnerable to cyberattacks over the next decade, as investors turn away from traditional energy producers in favor of renewables, according to John LaForge, head of real asset strategy at Wells Fargo Investment Institute.