Energy briefs

** Exxon Mobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major’s second-quarter earnings. The oil major would be reporting its first earnings after closing the acquisition of Pioneer Natural Resources for $60 billion, with the combined operations making it the largest oil producer in the Permian basin.

** California must retire existing heavy-duty trucks to meet the state’s 2045 carbon neutrality goals, in addition to promoting the purchase of zero-emissions vehicles (ZEVs), a new study has found. Stricter policies that cover both the rollout of zero-emissions trucks and the early retirement of gas-guzzlers could slash cumulative greenhouse gas emissions by 64 percent, according to the study, published on Monday in Environmental Research: Infrastructure and Sustainability.

** -The Federal Aviation Administration said on Monday it is requiring inspections of 2,600 Boeing 737 airplanes because passenger oxygen masks could fail during an emergency due to a retention strap.

** Lucid Group reported second-quarter deliveries above market expectations on Monday, as price cuts helped boost demand for its luxury electric sedans. Demand for electric vehicles has grown at a slower-than-expected pace in the past year, pressured by high borrowing costs, economic uncertainties and consumer preference for hybrid alternatives.

** The Federal Motor Carrier Safety Administration ordered a California trucking company with a history of safety violations to cease operations after a crash in Colorado killed one person and injured others. Monique Trucking, owned by Manrique Agramon, was served the order from the FMCSA last week after the agency declared the carrier to be “an imminent hazard to public safety.”

** A record $7 billion in attorneys’ fees for three firms that successfully challenged Elon Musk‘s $56 billion Tesla pay package provides an incentive for lawyers to hold corporate boards accountable, an attorney for a company shareholder told a Delaware judge on Monday.


**  Porsche is sticking to its guns in its transition of some models to electric vehicles, despite a recent weakness in demand for battery-powered cars, the carmaker’s head of production told magazine Automobilwoche.

** Automaker Stellantis’ output in Italy could drop by around a third this year if the government’s recently introduced purchase incentives don’t boost demand, especially for electric vehicles, the FIM-CISL union said on Monday.

** A bright future is dawning in China as the world’s largest solar tower project (by expected tower capacity) recently broke ground — and it’s a major win for people and the planet alike. Recently, Northwest Engineering Corporation Limited announced that construction has officially begun on the milestone 200-megawatt solar tower in Delingha, according to Renewable Energy Magazine.

** China’s electric vehicle giant BYD will open a factory in Turkey, a government source told AFP on Monday, as the company continues its international expansion. “BYD will open a plant in Turkey,” the source said, adding the details would be announced by President Recep Tayyip Erdogan.

**  Brazil’s state-controlled oil company is raising domestic gasoline prices for the first time in 11 months as crude prices have climbed and the value of the nation’s currency slides.