Energy quick reads

** Permian rivals Diamondback Energy and Endeavor Energy Resources are close to finalizing a merger that would create an oil and gas company that could be valued at more than $50 billion, the Wall Street Journal reported on Sunday.

** California’s plan to lower electricity rates and relieve the burden on low-income households, in particular, is sparking conflict among lawmakers, utilities and clean energy advocates.

** Ford Motor Co. announced this week during the 2023 earnings call the automaker is reviewing what customers like and actually use to determine which features on vehicles may be excessive or unnecessary. Say goodbye to the driver-assist parallel parking feature.

** Walmart and Energizer were ordered by a U.S. judge to face lawsuits by consumers and retailers accusing them of violating antitrust law by conspiring to raise prices of disposable batteries.

** The Biden administration looks to bar imports of “smart cars” from China over data security concerns, including all electric vehicles and parts coming from the country.

** While electric vehicle sales continue to grow, the pace is slower than what executives predicted, causing layoffs at auto and battery plants.


** Coal India reported a higher-than-expected third-quarter profit on Monday as the state-run miner cranked up production to meet surging demand for electricity in the country as well as declared a second interim dividend.

** Japan’s Honda Motor reported a sharp rise in operating profit for the December quarter and lifted its annual outlook, helped by robust sales in the United States, a more profitable product mix and a weaker yen.

** Campaigners have slammed plans to build one of the largest battery storage facilities in Europe on their doorstep as “outrageous”. Energy company Statera proposed building 900 storage containers on 26 acres of land in the village of Granborough, Buckinghamshire.

** Following the UN’s COP28 climate talks in oil-fuelled Dubai, the COP29 conference is headed for the historic cradle of oil, Azerbaijan, which is in the midst of a gas boom.

** Chile is embarking on a European hunt for investors in solar, wind and green hydrogen technologies as it looks to decarbonise copper mines and other industries reliant on fossil fuels.

** The French government said on Monday it was halting for the rest of this year a programme to subsidise low earners leasing an electric car, after demand far exceeded initial plans.