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** The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp’s record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry.

** The Bureau of Land Management announced plans to lease nearly 21,000 acres of national public land in Montana and North Dakota to oil and gas companies. It also released an environmental review for the upcoming May 2023 sale in New Mexico.

** The Biden administration is on track to telegraph support for a scaled-back drilling plan at ConocoPhillips’s proposed Willow project in northwest Alaska, over the objections of environmentalists who say the world can’t afford to burn the estimated 600 million barrels of oil it could yield.

** The White House announced it is renominating Laura Daniel-Davis to serve as the Assistant Secretary for Land and Minerals Management at the Interior Department.This marks the third time Daniel-Davis has been submitted to the Senate.

** Freeport LNG asked U.S. regulators for approval to add natural gas to one of the three idled units at its liquefied natural gas (LNG) export plant in Texas, a milestone in efforts to restore production after a seven-month outage, according to a federal filing made available on Tuesday.

** U.S. natural gas futures dropped about 6% to a 21-month low on Monday on milder weather forecasts that should cut expected heating demand through the middle of February.

** New York is buying an unusually large amount of gasoline and diesel from India — a country that has become a top outlet for sanctioned Russian oil. About 89,000 barrels per day of Indian gasoline and diesel will reach New York this month, the most in nearly four years.

** The Biden administration on Tuesday announced the awarding of $1.2 billion in grant funding for nine massive transportation projects across the country, the first wave of $5 billion in award decisions that will be based in part on how these projects advance environmental and “equity” goals.

** The American Petroleum Institute (API) announced the promotion of Holly Hopkins to Vice President of Upstream Policy. In this role, Hopkins will lead API’s efforts concerning the legislative and regulatory issues surrounding the exploration and production of oil and natural gas.



** Wind and solar power generated a record 22.3% of the European Union’s electricity in 2022, topping the amount generated from gas (19.9%) for the first time, according to a report released Tuesday.

**  Bangladesh purchased a liquefied natural gas shipment after an eight-month hiatus, the latest sign that plummeting prices are making the fuel affordable again for energy-starved emerging nations.