** A Louisiana jury has ordered Chevron to pay more than $744 million in damages for destroying parts of the state’s coastal wetlands through its oil and gas operations, The Guardian reported.
** The federal government handed $7 billion to California to build a high-speed rail line, but the Golden State never laid a single foot of track, according to a new report. This prompted Transportation Secretary Sean Duffy to threaten that he may remove federal grants to the state’s High-Speed Rail Authority (CHSRA).
** The Solar Energy Industries Association reports Congress’ “big beautiful bill” could cost Florida up to 21,800 solar and storage jobs if clean energy tax credits aren’t restored.
** Canada’s Virmillion Energy is selling its Powder River Basin assets in Wyoming in an $88 million.
** Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, has agreed to acquire PowerTransitions, a utility-scale power developer in the US, from EnCap Investments. Partners Group plans to invest over USD 450 million of capital to accelerate the Company’s future growth.
** New Era Helium, Inc., a next-gen exploration and production platform in the Permian Basin, announced that the Texas Critical Data Centers, LLC joint venture has entered into a non-binding Memorandum of Understanding with PowerForward Energy Solutions to provide 250MW of on-site generation capacity to power its planned AI and high-performance computing campus in Ector County, Texas.
** Enterprise Products Partners said on June 4 it received notice that the U.S. Commerce Department intends to deny its requests to export three proposed cargoes of ethane, totaling around 2.2 MMbbl, to China. The move could pressure U.S. ethane exports, and force producers to seek alternate buyers and raise costs for Chinese petrochemical firms, which rely almost exclusively on U.S. producers for ethane imports.
World
** India’s coal-fired electricity generation in May fell at the fastest pace in five years, as overall power demand declined for the first time since August and renewable energy generation rose to a record high, a Reuters analysis of government data showed.
** On Wednesday, July 2, 2025, more than 100 senior leaders from Alberta’s energy, AI, cloud, and infrastructure sectors will gather at Platform Calgary for the Energy & AI Data Centre Executive Breakfast – a curated leadership session launching Calgary Stampede week with a bold focus on Alberta’s emergence as a global AI infrastructure powerhouse.
** TotalEnergies announces the signature of an agreement with Shell Brasil Petróleo Ltda to exchange its 20% non-operated interest in the Gato do Mato project for an additional 3% interest in Lapa, a producing Brazilian offshore oil field. Upon closing, TotalEnergies will increase its stake in Lapa to 48% (Operator), alongside Shell (27%) and Repsol Sinopec (25%).
** A former coal-mining region of Germany could offer a glimpse of Appalachia’s future as the coal industry continues to decline, although unlike Germany, the U.S. has no comprehensive plan for transitioning the region’s economy.
** Solar-powered microgrids kept parts of Puerto Rico powered during a widespread April outage, but the U.S. Energy Department plans to redirect $365 million previously earmarked for rooftop solar to boost the island’s troubled grid.
