** A further decline in Russian oil supply is likely to spark a global recession, Bank of America said Friday. The bank warned oil prices could hit $150 a barrel, and an energy crisis could ensue, if supplies fall sharply.
** The American oil and gas supermajor, Chevron Corporation CVX, recently announced that it closed an agreement to join Talos Energy TALO and Carbonvert Inc. in a joint venture for the development of the Bayou Bend carbon capture and sequestration (“CCS”) project situated off the Texas Gulf Coast.
** The federal Bureau of Land Management approves PacifiCorp’s 416-mile Gateway South transmission line that would carry Wyoming wind power to Utah.
** Alaska utility officials say a plan to invest more than $200 million to upgrade the Railbelt power grid will expedite renewable power development.
** The U.S. Interior Department advances a proposed offshore wind lease sale for two areas totaling 373,268 acres along the central and northern California coast.
** Kansas City considers amending its building codes to make new developments more energy efficient and prepare for electrification.
** North Dakota officials intervene to start cleaning up abandoned bags of a radioactive hydraulic fracturing byproduct that have started to leak into a nearby river.
World
** The European Union’s plans to impose an oil embargo on Russia appeared on the verge of collapse ahead of a summit meeting of member states’ leaders later Monday.
** Austrian Chancellor Karl Nehammer said Russian President Vladimir Putin told him on Friday that Moscow would meet its natural gas delivery commitments to Austria and was ready to discuss a prisoner swap with Ukraine.
** Fresh off of the US targeting a series of companies involved in an Iran-linked oil smuggling network, the US has now seized an oil tanker near Greece, taking the Iranian oil within to be sent to the US.
** The European Union proposed banning seaborne oil from Russia while delaying restrictions on imports from a key pipeline in an effort to satisfy Hungarian objections and clinch an agreement on a stalled sanctions package that would target Moscow for its war in Ukraine.
** Serbian President Aleksandar Vucic has refused to explicitly condemn Russia’s invasion of Ukraine, and his country has not joined Western sanctions against Moscow according to the Associated Press.