** ExxonMobil is preparing to join the power generation business, seeing an opportunity to support the electricity supply for energy-intensive data centers. The company on Dec. 11 said it is designing what was referred to as a “massive” natural gas-fired power plant that would be dedicated to producing power for data centers.
** ExxonMobil has announced plans to increase its oil and gas output by 18% by 2030, with a focus on expanding its operations in the US and Guyana. The plan includes raising annual project spending to between $28bn and $33bn from 2026 to 2030, according to a report by Reuters.
** U.S. LNG export growth is increasingly threatened by the inability to build infrastructure for a backlog of projects and additional, growing natural gas demand, executives said at an industry conference in Washington, DC, reported Natural Gas Intelligence.
** The Biden administration will increase Section 301 tariffs on solar energy components from China. The Office of the U.S. Trade Representative announced Wednesday such materials as solar wafers and polysilicon importants will face a 50% tariff rate effective Jan. 1.
** California’s Energy Commission voted this week in support of a $1.4 billion plan to increase EV use in the state. The plan calls for nearly 17,000 new electric vehicle charging stations as well as hydrogen refueling sites.
** The Environmental Protection Agency is awarding $135 million in grants to fund 13 projects in California to help the state wean off fossil fuels and phase out big rigs that run on diesel.
** U.S. Postmaster General Louis DeJoy defended plans to buy a rising number of electric delivery vehicles and said he did not plan to return funding earmarked for zero-emission models without legislation from Congress.
** A coalition of oil and gas trade associations, representing over 80% of U.S. domestic production, has issued an urgent call to House Speaker Mike Johnson for immediate action on permitting reform before the close of the 118th Congress. The coalition, comprised of Energy Workforce & Technology Council, Gulf Energy Alliance, International Association of Drilling Contractors, Independent Petroleum Association of America, National Ocean Industries Association, Texas Alliance of Energy Producers, U.S. Oil & Gas Association, and Western Energy Alliance, warns that delays in reform threaten America’s energy security and economic growth.
** U.S. investor Acadia Infrastructure Capital and companies including Microsoft are looking to help develop a $9 billion pipeline of renewable energy projects across the country, the project lead told Reuters.
World
** OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization of Petroleum Exporting Countries chopped projections for consumption growth in 2024 by 210,000 barrels a day to 1.6 million barrels a day, according to its monthly report.
** Chinese electric vehicle (EV) maker Nio will seek to improve efficiency and cost control as it seeks to spur sales growth that is two years behind schedule, its CEO said on Thursday.
** India will reach a decision soon on whether to impose import restrictions on metallurgical coke, a key ingredient in steelmaking, a source with direct knowledge of the matter told Reuters.
