U.S. ENERGY
Oil Companies Offered $300M for Gulf Drilling Rights
Oil companies offered $300 million for drilling rights in the Gulf of Mexico on Wednesday in the first of 30 planned sales under Republican efforts to ramp up U.S. fossil fuel production.
Exxon Cuts Low-Carbon Spending Plans
Exxon Mobil Corp. plans to cut planned spending on low-carbon projects by one-third, joining others in refocusing on fossil fuels. The company said it would increase earnings and cash flow by $5 billion by 2030.
Coons Accuses Trump Administration of Escalating Toward Venezuela War
Sen. Chris Coons (D-DE) accused President Donald Trump and Defense Secretary Pete Hegseth of “sleepwalking” the United States into a war with Venezuela to obtain the country’s oil and other resources.
California Rejects Plan to Shut Down Ivanpah Solar Project
Last week, California regulators rejected plans to shut down the Ivanpah Solar Project along Interstate 15 at the Nevada border. The plant—once a model for future clean energy—is now widely viewed as a $2.2 billion boondoggle.
Pennsylvania to Study Expanding Setbacks for Gas Drilling
Pennsylvania’s environmental regulator agreed to a petition from environmental groups and will study increasing setbacks between gas drilling sites and homes, schools, and hospitals.
Energy Secretary Highlights Advanced Nuclear Reactor Work
U.S. Energy Secretary Chris Wright touted progress on advanced nuclear reactors during a visit to the Idaho National Laboratory.
BLM Approves Lithium Exploration in Oregon
The Bureau of Land Management approved a lithium exploration project in southeast Oregon, sparking concerns about impacts to sage grouse and cutthroat trout.
WORLD
Oil Prices Ease Amid Russia-Ukraine Talks
Oil prices eased Thursday as investors shifted focus back to Russia-Ukraine peace talks and monitored fallout from a U.S. seizure of a sanctioned oil tanker off Venezuela.
Venezuela Condemns U.S. Seizure of Oil Tanker
Venezuela denounced the U.S. seizure of a Venezuelan oil tanker in the Atlantic, calling it “international piracy.” President Maduro said Venezuela would never become an “oil colony.” The Trump administration accuses Venezuela of funneling narcotics into the U.S.
IEA Reports 6.3% Growth in Crude and NGL Production
The International Energy Administration reports that production of crude oil, NGL and refinery feedstocks grew by 6.3% compared with the same month last year.
Ukraine Says Naval Drones Damaged Russian “Shadow Fleet” Tanker
A Ukrainian security source said naval drones attacked and damaged a Russian oil tanker, part of Russia’s “shadow fleet” used to move oil despite sanctions.
China Converts Thorium to Uranium in Reactor Breakthrough
A research team in China reportedly made a major step toward sustainable nuclear power. Scientists confirmed that an experimental thorium molten salt reactor in the Gobi Desert successfully converted thorium into usable uranium fuel, according to the South China Morning Post.