Other energy reads

** U.S. climate envoy John Kerry on Tuesday urged the world to be “very skeptical” about claims from oil and gas producers that emerging technology soon will allow people to adequately capture the climate-wrecking fumes emitted by their cars, planes and businesses.

** West Virginia Sen. Shelley Moore Capito and Rep. Carol Miller have teamed to introduce a bill in their respective chambers to stop the U.S. EPA from implementing its proposed new greenhouse gas emissions rule for power plants — a rule they say would force the closure of coal-and gas-fired power plants.

** Oil prices will remain under pressure until the Fed eases up on monetary tightening, Bank of America said. Meanwhile, Saudi Arabia is trying to boost oil prices by cutting production. Energy markets are facing a “battle royale” between the top oil exporter and the Federal Reserve.

** The U.S. Environmental Protection Agency is expected to release a final rule on biofuel blending volume mandates for the years 2023-2025 by June 21, after seeking a one-week extension on a deadline for the rule, according to a court document on Tuesday.

** The $6.6 billion Mountain Valley natural gas pipeline moved another step closer to restarting construction after West Virginia environmental regulators issued a new water permit, the partnership building the pipe said in court papers.

** A joint venture between General Motors and Samsung will bring a $3.5 billion electric vehicle battery manufacturing plant and thousands of jobs to northern Indiana.



** Shell will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan.

** Global oil demand growth will taper off over the next few years as high prices and Russia’s invasion of Ukraine speed up the transition away from fossil fuels, the International Energy Agency said.

** Power outages are leaving Vietnamese homes and businesses without power for hours at a time, as a prolonged drought and high temperatures strain the fast-growing economy’s capacity to keep up.

** An operation is finally underway to transfer the oil from a stricken tanker off the coast of Yemen that maritime salvage experts have called a “ticking time bomb.”

** Nigeria’s state energy company should sell off assets including stakes in oil blocks to raise billions of dollars, a report prepared for the country’s new president proposes.