Energy briefs

** Former President Donald Trump is more than happy to fulfill the oil and gas industry’s wish list if he’s reelected — but he has an asking price. Trump reportedly solicited top oil and gas executives to give $1 billion for his campaign to return to the White House, vowing in return to undo many of President Joe Biden’s green energy policies if he is elected in November.

** Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration’s environmental rules and policies at a meeting with top U.S. oil executives, where he also asked them to raise $1 billion for his presidential campaign, the Washington Post reported.

** A U.S. auto safety agency said it has “significant safety concerns” over Ford Motor’s recall of more than 42,000 SUVs over concerns fuel leaks could lead to an engine fire.

** Enbridge (ENB) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.

** Enbridge Inc. is offering up new space on a crude pipeline running to the Texas oil port of Corpus Christi, a top exporting hub that’s currently suffering from constrained pipeline capacity.

** The administration should stop approvals of deepwater oil export facilities and reevaluate its approval process, the Sierra Club wrote on behalf of nearly 20 environmental and community groups in a letter Thursday to the White House and the Department of Transportation. The department in April quietly approved a deepwater port off the coast of Texas proposed by Enterprise Products Partners with the capacity to export 2 million barrels of oil a day.


** Ukraine broke records with a long-distance strike on Russia on Thursday, hitting a target 746 miles from the border. A Ukrainian defence source said the drone attack, which hit an oil refinery in the Russian republic of Bashkortostan, was the SBU security service’s work and was carried out at a “record range”.

** A green energy founder pulled out of a $100 million Neom contract after he realized that the Saudis were bulldozing villages to make way for the megacity. Malcolm Aw, the CEO and founder of Solar Water, told Business Insider that he initially got involved with Neom to help realize its ambitions as a pioneering green energy “eco-city.”

** Only months remain until the last coal power plant in Britain is shut down, nearly 60 years after it was first opened. Its closure is being celebrated, as it leads the country to reaching its goal of banning coal power throughout the United Kingdom.

** Together, coal and gas generated 21 percent of electricity in the EU last month, a new low that reflects the rapid adoption of renewable power. The buildout of wind and solar in Europe is continuing apace, while hydropower is recovering from an extended drought.

** China’s car exports surged to a record high in April, data showed on Friday, as domestic sales slipped 5.8% from a year earlier amid intensifying price competition and consumers’ caution about spending on big items during a shaky economic recovery.