US and World energy headlines

** HighPeak Energy Inc. agreed on April 27 to acquire the Howard County, Texas, assets of Hannathon Petroleum LLC and other nonoperated working interest owners in a cash-and-stock deal estimated to be worth about $373.4 million. The bolt-on acquisition adds Midland Basin acreage largely contiguous to the company’s existing Signal Peak position where Chairman and CEO Jack Hightower said HighPeak began its strategic expansion last August.

** New York’s Assembly passes legislation to instate a cryptocurrency moratorium over emissions concerns, sending the bill to the state Senate.

** Florida Gov. Ron DeSantis cites inflation as he vetoes a utility-backed bill that would have stripped solar power subsidies for residential customers and allowed electric utilities to impose steep fees on solar panel owners.

** Virginia ranked fourth in the country for solar installations in 2021, and for the first time generated more power from solar than coal.

** Federal officials suspend a permit for a proposed Kentucky gas pipeline while they re-evaluate its potential effects on endangered bats.

** Ford is cutting 580 salaried employees and agency workers as it pivots from producing internal combustion vehicles to electric models.

** National Climate Adviser Gina McCarthy is saying the proposed $550 billion in energy and climate provisions might not be fully necessary given progress the administration has already made reported POLITICO.


** Germany, the main opponent of a full embargo on Russian oil imports into the European Union so far, has dropped its opposition to a ban, if given time to procure alternatives, government officials told The Wall Street Journal on Thursday.

** China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products. In the second half of the year, China processed slightly less crude oil and began exporting significantly less gasoline and diesel than in the first half of the year to ensure sufficient domestic supply.