** Debris from a broken offshore wind turbine has for days been washing up on the Nantucket shore, prompting beach closures and frustrating locals at the peak of the summer season. The massive turbine blade – as long as a football field – was part of the Vineyard Wind farm off the coast of Massachusetts and its islands, Martha’s Vineyard and Nantucket.
** SunPower Corp. plunged to an all-time low after the solar company told dealers it would no longer support new installations and was halting shipments. The company has lost more than two-thirds of its market value this year as it contends with a decline in the rooftop solar industry as well as internal issues.
** California will be the first state to receive federal funds under a program to create regional networks, or “hubs,” that produce hydrogen as an energy source for vehicles, manufacturing and generating electricity, officials announced.
** The U.S. government announced that $325 million in federal funds will be available for solar and battery storage installations across Puerto Rico as the U.S. territory struggles with chronic power outages. The program, funded by the U.S. Department of Energy, will target community centers and healthcare facilities, as well as common areas in subsidized, multi-family housing.
** SLB and Halliburton Co., two of the world’s biggest oilfield service providers, said they see strong international demand for crude drilling after posting earnings that met or exceeded expectations, supporting their shift into overseas markets. While Halliburton met expectations with earnings per share, its sales of $5.8 billion were lower than analysts expected.
World
** Israeli jets struck an oil depot at al-Hudaydah Port in Yemen on Saturday sparking a large fire that officials said could be seen across the Middle East. The strike on Saturday afternoon came after Houthi rebels launched a drone attack at Israel killing one civilian and wounding eight others.
** Kremlin spokesman Dmitry Peskov on Friday called interruptions in Russian oil transit via Ukraine a “crisis” for the affected oil buyers, but said there was little scope for talks with the Ukrainian transit firms because the decision had been political.
** Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country’s upstream sector where it used to be a dominant producer, two sources with direct knowledge of the matter said.
** Chinese wind turbine-makers this month clinched their first order in Germany, as they build momentum in the European market and add to concern in the EU industry that it faces an existential threat. Tensions are high between Beijing and Brussels, the world’s two biggest wind markets, as the European Commission, the EU executive, has launched an investigation into whether Chinese players enjoy unfair subsidies reported Reuters.
** Search teams rescued nine crew members, mostly Indians, and recovered the body of another as they searched the Arabian Sea waters for others after an oil tanker capsized this week off the coast of Oman, Omani state media said.
** German Chancellor Olaf Scholz praised a tentative deal between Serbia and the European Union signed on Friday that paves the way for the disputed excavation of lithium, a mega project that could reduce Europe’s dependency on China but one that has been fiercely criticized by environmentalists and opposition groups.