** Top U.S. oil producer Exxon Mobil’s planned acquisition of the No. 1 Permian shale producer Pioneer Natural Resources could further restrain output growth in the largest U.S. oilfield, squeezing pipeline companies and suppliers, executives and energy advisors said.
** Union workers at Mack Trucks went on strike Monday after voting down a five-year contract agreement that negotiators had reached with the company. The United Auto Workers said 4,000 unionized workers walked out at 7 a.m., adding to labor turmoil in the industry that has ensnared all three big Detroit automakers.
** Whales, dolphins and seals living in U.S. waters face major threats from warming ocean temperatures, rising sea levels and decreasing sea ice volumes associated with climate change, according to a first-of-its-kind assessment.
** Federal officials have issued a warning about a substantial safety violation at a South Carolina nuclear plant after cracks were discovered again in a backup emergency fuel line.
** California has filed a lawsuit against industry giants like ExxonMobil, Shell, and BP, as well as lobbying body the American Petroleum Institute, accusing them of misleading the public about the dangers of dirty energy.
World
** Israel’s gas shipments to Egypt fell by 20% as safety concerns prompted the shutdown of a key offshore field, threatening onward deliveries to Europe. Israel ordered the shutdown of the Tamar gas field run by Chevron Corp., citing safety concerns as fighting between its military forces and Hamas escalates.
** Hamas’ surprise assault on Israel will drive up oil prices and force global energy markets to “beg” Saudi Arabia to reverse its recent production cuts, according to Pierre Andurand. The legendary commodities trader said Saturday that the militant group’s raid will disrupt longer-term supplies, with Riyadh unlikely to start pumping out more crude until Brent hits $110 a barrel.
** OPEC raised its estimate for medium- and long-term demand for oil, and suggested trillions of dollars in spending would be needed to keep up with that higher demand.
** Chevron has asked Australia’s industrial tribunal to help resolve a “small number” of issues blocking a deal with unions at its two liquefied natural gas (LNG) facilities in Western Australia as workers announced plans to resume strikes next week.
** Expert teams at Slovenia’s only nuclear power plant Krsko (NEK), jointly owned by Slovenia and Croatia, have narrowed down the location of the leak which led to the plant’s shut down last week, the NEK said on Monday.
** Mexican state-owned oil company Pemex expects to process 1.16 million barrels of crude oil per day by the end of 2023, CEO Octavio Romero said on Monday, a goal which would represent significant growth from current refining levels.
** Kenya will ask China for US$1 billion to finance stalled infrastructure projects when President meets Chinese counterpart Xi Jinping in Beijing this month. Ruto will also seek loan restructuring, asking China for more time, “so we can pay slowly, and add us a little money so we can finish road construction”, his deputy said.
