** Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns and a business that it says has become overcomplicated. Its $53 billion acquisition of Hess has been stalled due to an arbitration battle with larger rival Exxon Mobil.
** Coterra Energy Inc. announced that Dan O. Dinges and Robert S. Boswell plan to retire from the Board of Directors at the end of their current term and not stand for re-election at Coterra’s 2025 annual meeting of stockholders. Dinges served as Chairman, President, and Chief Executive Officer of Cabot Oil & Gas for 20 years. Boswell served as Chairman and Chief Executive Officer of several private and public exploration and production companies over the past 40 years.
** French energy company EDF withdraws from a planned 1,510-turbine wind farm off New Jersey, citing “significant evolutions” in U.S. offshore wind policy.
** Electric generators report that they plan to retire 8.1 GW of coal-fired capacity in 2025, or 4.7% of the total U.S. coal fleet that was in operation at the end of 2024. Coal retirements decreased to 4.0 GW last year, less than the 9.8 GW of coal capacity retired in each of the last 10 years.
** Kentucky officials confirm the state will continue to invest in electric vehicle stations despite Trump’s suspension of nearly $70 million in federal funding for that purpose.
** The federal government will unfreeze more than $2 billion in funding for Pennsylvania, mostly for environmental projects like plugging abandoned gas wells or making low-income housing more energy-efficient, Gov. Josh Shapiro says.
** Puerto Rico’s newly elected governor threatens to terminate the contract of a private company that’s managed the island’s power grid since taking over from the troubled state-owned utility.
World
** OPEC+ is expected to revive some curtailed crude production in April following US President Donald Trump’s appeals to the group to lower prices, said Jason Prior, Bank of America Corp.’s head of oil trading.
** Guyana’s government expects a consortium led by U.S. oil major Exxon Mobil to brief officials by the end of March on plans to develop offshore gas, the country’s vice president told Reuters.
** The Christian Democratic Union Party’s win in Germany ensures that Europe’s biggest economy is likely to continue to lead on climate change. Experts on Germany expect the new government to emphasize industrial policy over climate change.