Additional energy headlines

** Exxon Mobil Corp on Monday said its first-quarter production results could top a seven-year quarterly record, with operating profits from pumping oil and gas of up to $9.3 billion according to Reuters.

** JPMorgan boss Jamie Dimon warned on Monday that the bank could lose about $1 billion on its Russia exposure, the first time it has detailed the extent of its potential losses resulting from the conflict in Ukraine.

** Cleanup continues from a pipeline that spilled 165,000 gallons of crude oil in southwestern Illinois more than three weeks ago.

** The Biden administration rolls out a new fuel economy rule that will require 8% efficiency increases in 2024 and 2025 model year vehicles, followed by 10% in 2026.

** North Carolina’s Supreme Court will soon rule whether homeowner associations can veto residents’ solar installations in the name of aesthetics.

** The federal Bureau of Land Management considers a 300 MW solar facility proposed on 7,000 acres in southwestern Utah.


** Exxon Mobil Corp. rose 0.6% in premarket trades on Monday. The company said it made a final investment decision for the Yellowtail development off the coast of Guyana after receiving government and regulatory approvals.

** Saudi Arabia raised oil prices for customers in all regions as Russia’s invasion of Ukraine continues to reverberate through markets.

** French President Emmanuel Macron on Monday said “his wish” is to see the European Union enact a total blockade on Russian oil and coal “this week” in response to Moscow’s “war crimes” in the Ukrainian town of Bucha, a Kyiv suburb.

** Lithuania has stopped importing gas from Russia as of the beginning of April, the country’s ministry of energy announced on Saturday. The former Soviet republic is the first European Union country to fully cut off supply from Russia’s Gazprom.

** Mexico, which has been subsidizing gasoline to soften price spikes, said on Saturday the policy would not apply in the U.S. border region this week, citing shortages as more Americans drive south to fill their tanks.