** U.S. refining companies like Valero Energy and Marathon Petroleum are set to benefit even more from a potential Venezuelan oil resurgence than drillers, as they have the equipment to process the country’s viscous crude.
** Valero Refining Company will begin laying off hundreds of workers at its Benicia refinery this spring in California. In a regulatory letter filed Tuesday with state and local officials, Valero said it expects to permanently idle refinery processing units at the Benicia facility and lay off 237 of its 348 employees between March 15 and July 1.
** General Motors warned of rough financial results as a result of pulling back from the EV market, according to CNBC. The American automaker announced a $7.1 billion write-down in its fourth-quarter financial results. It noted $6 billion of that is related to weakening demand for electric vehicles.
** Logistic Land Investment will request rezoning for an additional 900 acres of land in Alabama for a $14.5 billion proposed data center project.
** A Virginia county board moves to roll back its decision last month exempting some data centers from the county’s special-use permitting process so long as they meet certain development standards.
** A Texas city council considers a 936-acre “major hyperscale data center” that received some opposition during a previous zoning commission hearing.
World
** Venezuela’s interim President Delcy Rodriguez said she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry.
** Germany is defying conventional wisdom with the progress of its solar energy adoption. Solar power’s share of electricity generation represented 18% of Germany’s electricity in 2025, which meant it passed coal (16%) and methane gas (14%) for the first time.
** Venezuela’s interim President Delcy Rodriguez said on Thursday she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry.