Energy quick reads

** The Biden administration announced it would delay part of its signature climate plan to slash planet-warming pollution from the power sector. The Environmental Protection Agency said it would carve existing gas plants out of a proposed regulation to cut emissions from power plants.

** The Biden administration finalized energy efficiency regulations targeting residential clothes washers and dryers in an effort to curb carbon emissions, as part of its broad climate agenda. Under the regulations, certain less-efficient models of washers and dryers will be barred from being sold, according to DOE.

** New opposition has emerged surrounding a power plant Minnesota Power, Dairyland Power Cooperative, and Basin Electric Power Cooperative are teaming to build along the banks of the Nemadji River in Superior, Wisconsin.

** A company shuts down its 425-employee electric bus manufacturing facility in southern California, citing supply chain constraints and rising costs. 

** Wall Street’s top regulator will vote on March 6 on whether to adopt rules requiring U.S.-listed companies to report climate-related risks, the agency said in a notice on Wednesday, in a potentially major overhaul of U.S. disclosure rules.

** Low U.S. natural gas prices will hurt Tellurian Inc’s ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its liquefied natural gas export (LNG) project, analysts said.

** U.S. energy major Exxon Mobil said that trader salaries would be adjusted based on benchmarking and will include performance bonuses at the end of the year and long-term incentives as compensation.


** A ship attacked by Yemen’s Houthi rebels has sunk in the Red Sea after days of taking on water, officials said Saturday, the first vessel to be fully destroyed as part of their campaign over Israel’s war against Hamas in the Gaza Strip.

** Boeing said it had reached a $51 million settlement with the U.S. State Department for numerous export violations including Chinese employees in China improperly downloading documents related to U.S. Defense Department programs.

** Global energy majors Exxon Mobil and Shell will work with Singapore to develop a cross-border carbon capture and storage (CCS) project, both companies said on Friday.

** China’s manufacturing activity in February shrank for a fifth straight month, an official survey showed on Friday, raising pressure on Beijing to roll out more stimulus measures as the parliament prepares for a key annual meeting next week.

** Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the Petroleum Exporting Countries’ (OPEC) estimate for 2024.

** Mexican cement maker Cemex will start using a new manufacturing method that will reduce its consumption of a key intermediary ingredient and cut carbon dioxide (CO2) emissions, the company said.

** Canada will expedite the approval process for new nuclear projects, but will not exclude them from the federal environmental review as requested by the province of Ontario, Energy and Natural Resources Minister Jonathan Wilkinson said.