** Crescent Energy Co. has closed on its divestment of non-operated Permian Basin assets for $83 million as part of the company’s plans to sell $250 million of non-core divestures, Crescent CEO David Rockecharlie said April 22.
** Activist investor Elliott Investment Management should back down from its push to break up energy company Phillips 66 because it is conflicted from a separate effort to acquire one of the group’s rivals, Phillips 66 said in a letter on Monday. The salvo is the latest in a bitter spat between Phillips 66 and Elliott that is due to come to a head at a shareholder meeting next month.
** Tesla argues it’s continuing to make progress on its Gigafactory Texas despite laying off 7% of its workforce last year.
** In the wake of the Trump administration’s latest moves against offshore wind, Massachusetts communities that were preparing for an economic boost from the industry worry about whether expected jobs and economic benefits will ever materialize.
** New York state announces $30 million for a program that provides rebates to consumers who lease or buy new EVs, and increases incentives for the installation of chargers at multifamily buildings, hotels, and other workplaces.
** Platte River Power Authority plans to develop a 100 MW lithium iron phosphate battery storage system in northeast Colorado.
** A group of powerhouse companies — Cisco, Biogen, IDEXX Laboratories, and Waters Corporation — is making a bold move toward a smarter, more stable energy future. Together, they’ve secured more than 170 megawatts of affordable solar energy from two upcoming solar farms in Texas, according to Sustainability Roundtable.
World
** The share of OPEC oil in India’s imports fell to a record low in fiscal year 2024-25 as refiners continued to gorge on cheaper oil from Russia, the top oil supplier to New Delhi for the third straight year, data obtained from trade and industry sources showed according to Reuters.
** On Monday, the U.S. Department of Commerce slapped high tariffs on solar panels and their related products coming from four Southeast Asian countries, Malaysia, Vietnam, Thailand, and Cambodia, accusing manufacturers there of dumping products on the U.S. market. The announcement ends a yearlong trade probe initiated under the Biden administration.
** A plan to build a nuclear power plant will continue in Myanmar, a war-torn Southeast Asian country partly devastated by a massive earthquake in March, the Russian state-owned firm leading the project told Reuters.
** More than 70 Chinese and international automotive brands will showcase more than 100 new or refreshed models at the Shanghai auto show this week, intensifying already cutthroat competition in the world’s premier market for electric vehicles and hybrids.
** India, the world’s second-biggest producer of crude steel, on Monday imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.
