Energy quick reads

** The Senate has passed legislation that would expand and extend compensation for victims of U.S. nuclear testing — but it faces uncertain prospects going forward. It would revive legislation that is set to expire in June that compensates Americans exposed to radiation byWorld War II-era nuclear testing and Cold War-era uranium mining.

** The CEO of Rivian Automotive announced Thursday that the electric truck maker is pausing construction of its $5 billion manufacturing plant in Georgia to speed production and save money.

** Exxon Mobil CorporationXOM and QatarEnergy are reportedly in advanced discussions to divest their majority stake in Adriatic LNG, Italy’s largest liquefied natural gas (LNG) import terminal, to Vitol, per a Reuters report.

** TC Energy Corp’s Keystone oil pipeline, which transports heavy Canadian crude to the US Midwest and Gulf Coast, partially shut Thursday, sending oil futures higher in post-settlement trading.

** The United States is concerned about China’s ability to flood the electric vehicle market but U.S. incentives can increase the affordability of domestically-made EVs,  U.S. energy secretary said Jennifer Granholm.

** Some Chinese-made cranes used at US ports contain communications equipment with no clear purpose or record of their installation, according to a new congressional investigation that will heighten US concerns that the cranes could be used for surveillance or sabotage.


** Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices.

** Russians are feeling the effects of Ukrainian strikes on oil infrastructure “in their pockets” as a depot in the Kursk region became the latest site to be targeted. Russian officials said that the depot in the region which borders Ukraine exploded after it was hit early on Sunday morning.

** A major electrical transmission line proposal intended to carry power to New England from Canada through Vermont and New Hampshire has been canceled. Electric utility National Grid, one of the developers of the proposal, said in an emailed statement on Thursday that it “has determined that the project is not viable at this time.

** Chinese state-owned oil and gas giant CNOOC Ltd has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday. The reserve is located at CNOOC’s deepwater Kaiping South oilfield in the Pearl River Delta near Guangdong province, and contains light crude, the statement said.

** Europe is in urgent need of stronger measures to prepare healthcare systems, farming and critical infrastructure for increasingly severe climate change, a draft report by the European Environment Agency (EEA) said.