** The Federal Energy Regulatory Commission gave an Exxon Mobil and Qatar Energy LNG joint venture a 3-year extension to finish building their Golden Pass LNG plant. The extension was granted due to delays caused when lead construction contractor Zachry Holdings filed for bankruptcy in March, according to a Federal Energy Regulatory Commision filing.
** Valero Energy Corporation reported net income attributable to Valero stockholders of $364 million, or $1.14 per share, for the third quarter of 2024, compared to $2.6 billion, or $7.49 per share, for the third quarter of 2023.
** US coal production totaled about 9.7 million short tons in the past week, 0.5% more than the previous week but nearly 13% lower than the comparable week in 2023.
** The owner and manager of the cargo ship that caused the Baltimore bridge collapse have agreed to pay more than $100 million to settle a lawsuit brought by the Justice Department, officials said.
** The U.S. Interior Department gave final approval to ioneer’s Rhyolite Ridge lithium mine in Nevada, the first domestic source of the battery metal to be permitted by President Joe Biden’s administration and one that will become a key supplier to Ford and other electric vehicle manufacturers.
World
** An overturned fuel tanker exploded in Majia, Jigawa State, northern Nigeria, resulting in the deaths of at least 153 individuals and injuring over 100 on the night of October 15, 2024. The tanker tipped over on a major highway, causing locals to rush to the scene to gather the spilling gasoline that was flowing into a nearby drainage ditch.
** The European Commission is offering 85 net-zero projects a share of €4.8 billion ($5.2 billion) in grants from the latest round of the EU Innovation Fund. Some of the projects will contribute to 3 GW of new solar manufacturing capacity.
** Cuba’s large-scale blackouts that left 10 million people without power this month may not have happened if the government had built out more solar power to boost its failing electric grid as promised, some experts say. In a nation with plentiful sunshine, Cuban officials have long had the opportunity to encourage solar power as one solution to national energy problems, reported the Associated Press.
** Indonesia said it recently drove a Chinese coast guard ship out of its waters in the South China Sea. It said the Chinese ship disrupted an Indonesian oil and gas company surveying the waters.
** A new UN report warns that the world faces catastrophic climate consequences under current policies. It says the world is on a path to warm more than 3 degrees Celsius – or 5.4 degrees Fahrenheit – by the end of the century. That’s double the 1.5 degrees Celsius cap that countries agreed to in Paris nearly a decade ago.
** Iran’s military forces will get a large influx of cash thanks to a booming energy economy, despite Western sanctions. The regime’s upcoming 2025 budget will triple the amount of oil revenue allocated to its armed forces.