Today's Energy Pulse
Scania pilots megawatt‑scale V2G for heavy‑duty electric trucks
Scania demonstrated one of the first vehicle‑to‑grid systems for heavy‑duty electric trucks using the Megawatt Charging System (MCS). The pilot showed bi‑directional power flow, allowing trucks parked at depots to feed electricity back to the grid, with real‑time communication between the truck, charger and energy‑management platform enabling dynamic charging and discharging. The test marks a step toward integrating large‑capacity EVs into grid balancing.
Also developing:
US LNG Feed Gas Flows Retreat From April Highs as Terminal Work Weighs on Demand
U.S. LNG feed‑gas nominations slipped below 17 billion cubic feet per day, retreating from April’s peak levels. The decline is driven by a Freeport LNG outage that trimmed Texas terminal flows and continued reduced nominations at the Corpus Christi facility. Extended commissioning and maintenance at several export terminals further weigh on near‑term demand, leaving overall feed‑gas volumes under pressure. Analysts see the trend as a short‑term headwind for U.S. LNG exporters.
Oil Little Changed as Trump Visits China
Oil prices held steady on Wednesday, with Brent at $107.47 a barrel and WTI at $102.04, as traders watched a fragile cease‑fire in the Middle East and President Donald Trump’s summit with Xi Jinping in Beijing. The International Energy Agency...
Oil Price Spike Turmoil Far From over, IEA Says as Inventories Are Depleted at “Record Pace"
The International Energy Agency warned that oil market turmoil will persist as inventories shrink at a record pace following the February war in the Middle East. Global supply fell an additional 1.8 million barrels per day in April, bringing cumulative losses...
Eni Says Its Biodiesel Successfully Tested on Cruise Ship
Eni’s biofuel arm Enilive successfully ran a 2,000‑hour test on MSC Opera using 100% hydrogenated vegetable oil (HVO) without any engine modifications. The trial recorded a 16% drop in NOx and roughly an 80% reduction in lifecycle greenhouse‑gas emissions versus conventional...
Mexico’s Oil Obsession Is Killing Its Petrochemical Sector
Mexico’s petrochemical push under President Sheinbaum’s Plan México hit a snag when Braskem’s $5.2 billion polyethylene complex in Veracruz fell to 70 % capacity due to Pemex’s chronic ethane shortfall. Pemex supplied only half the agreed feedstock by 2021, prompting penalties and near‑litigation....
France’s Mantle8 Raises €31 Million to Fund the World’s Most Advanced Natural Hydrogen Exploration and Drilling Campaign
Mantle8, a Grenoble‑based natural hydrogen explorer, closed a €31 million (≈$33.5 million) Series A round, bringing total capital to €37 million (≈$40 million). The funding, led by Sandwater and backed by Breakthrough Energy Ventures, Bpifrance’s Ecotechnologies 2 fund, IP Group, Wind Capital and Calderion, will finance...
South Korea Is Coming to America’s Nuclear Rescue
South Korea's state‑owned Korea Hydro & Nuclear Power (KHNP) signed a memorandum of understanding with Southern Company's nuclear division to cooperate on engineering nuclear power stations. The agreement centers on technology exchanges, joint workshops and best‑practice sharing, without direct financing....
Chevron, TotalEnergies Advance Nigeria Offshore Plans
Meren Energy, holding stakes in Chevron's Ikija and Agbami fields, has accelerated its appraisal and infill drilling schedule to the fourth quarter of 2024, moving it up from a 2027 timeline. The move comes as Nigeria's deep‑water offshore output has...
Growatt Launches C&I Storage System with 95% Depth of Discharge
Chinese inverter and battery maker Growatt has launched the RISE 261H‑XH, an all‑in‑one hybrid energy storage system for commercial and industrial use. The platform delivers 261 kWh of lithium‑iron‑phosphate storage with a 95 % depth‑of‑discharge and is offered in 50 kW, 63 kW, 85 kW...
Running the Numbers – Russia’s April Budget Windfall
Russia’s April budget received an unexpected boost as oil and gas tax receipts surged, more than tripling the February collection of Rb393 bn ($5.1 bn). The windfall, driven by higher Brent prices and a rebound in exports after the Iran crisis, pushed...
Iranian Drone Strikes Threaten UAE Petrochemical Hub, Prompting Raw‑Material Cost Concerns
Iranian drone strikes on Fujairah’s port and logistics facilities have exposed the United Arab Emirates’ petrochemical trade hub to new risks, prompting manufacturers to brace for higher raw‑material prices. The attacks underscore how regional conflict can ripple through global supply...
India Set to Scale Back Russian Oil Imports if US Waiver Lapses
India may be forced to cut Russian crude imports if the U.S. sanctions waiver expires on May 16. Imports have surged to a record 2.3 million barrels per day this month, but could fall to about 1.9 million barrels without a renewal. Indian...
Fervo Energy Prices Upsized $1.9 B IPO, Targeting $7.4 B Valuation for Geothermal Power
Fervo Energy priced an upsized Nasdaq IPO of 70 million shares at $27 each, raising roughly $1.9 billion and valuing the company at $7.4 billion. The deal, led by JPMorgan, BofA, RBC and Barclays, underscores growing investor confidence in geothermal electricity as a...
UAE Leaves OPEC+ After Six Decades, Prompting New Gulf Oil Dynamics
The United Arab Emirates announced its exit from OPEC+ after nearly six decades of membership, freeing it from collective production quotas. The move underscores a strategic shift toward greater autonomy and could spark volatility in global oil markets, affecting other...
Iran War Is $29 Billion Quagmire As Trump Heads To China
The U.S. war with Iran has already cost taxpayers $29 billion, while the International Energy Agency reports over a billion barrels of Gulf oil stranded, creating a sharp supply shock. Gasoline prices in the United States remain above $4.50 per gallon...
DOE Releases 53 Million Barrels From Strategic Petroleum Reserve to Tame Gas Prices
The U.S. Department of Energy announced a loan of 53 million barrels of crude from the Strategic Petroleum Reserve to major refiners, aiming to ease record‑high gasoline prices. The move follows earlier releases that have already loaned about 80 million barrels and...
Policy, Not Tech, Unlocks Grid’s 100 GW Potential
What is missing is not technology. It is not engineering. It is the interruptible tariff structures and regulatory frameworks that let utilities offer flexible interconnection agreements at scale. Utah's SB 132 created one. Ohio's HB 15 moved toward one. These...
Austin Energy Enters the Next Phase of Decarbonization
In this episode of the Energy Capital Podcast, Austin Energy’s General Manager Stuart Riley and COO Lisa Martin discuss how the municipally‑owned utility operates as a vertically integrated, non‑opt‑in entity within ERCOT and leverages that structure to prioritize customer‑centric, decarbonization...
EU Carbon Trading Revamp to Boost Revenue Return to Industry, Commissioner Says
The European Commission announced a revamp of the EU Emissions Trading System (ETS) aimed at returning a larger share of permit revenues to industry as a decarbonisation incentive. Climate commissioner Wopke Hoekstra highlighted the need for more renewable capacity, continued...
Energy, Minerals, and the Physical Stack Behind AI
In this episode, Turner Caldwell of Mariana Minerals and Drew Begalino of Heron Power discuss how America’s AI and industrial future depends on revamping the physical stack of critical minerals, energy generation, and grid infrastructure. They explain their Tesla‑inspired, software‑first...
World’s Largest Redox-Flow Battery in Switzerland: Construction Progress on the Laufenburg Megaproject
Construction has begun on the world’s largest redox‑flow battery at the Laufenburg Technology Center in northern Switzerland. The first phase will deliver 800 MW of power and 1.6 GWh of storage, with a planned expansion to 1.2 GW and 2.1 GWh. The system, funded...
3 Million Hectares of Unproductive Land Could Fix NZ’s Fuel Instablity
New Zealand possesses up to 3 million hectares of unproductive land, including one million hectares of scrub, that could be converted to short‑rotation forestry for domestic bioenergy production. Bioeconomy Science Institute’s Paul Bennett estimates a feedstock pool of roughly 7 million tonnes of low‑grade...
France: Engie Delivers on Its First Two Offshore Wind Projects
Engie, through its Ocean Winds JV with EDP Renewables, has completed two key offshore wind milestones in France. The 500 MW EMYN fixed‑bottom farm off Vendée is now fully operational, delivering power for roughly 800,000 households. The 30 MW EFGL floating pilot...
Strong Winds Boost RWE Earnings
RWE reported a strong first‑quarter earnings beat, with adjusted EBITDA climbing to €1.6 billion ($1.74 billion) and earnings per share rising 25% to €0.85 ($0.93). The uplift stemmed from favorable wind conditions, the commissioning of 2.3 GW of new wind, solar and battery...
Electricity Prices Soar 987% as Supply Shrinks
Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa, says electricity prices in the country have risen exponentially. He adds that between 2007 and 2023, electricity prices increased by 987%. Here is the kicker; At the same time electricity prices were rising,...
Renewable Share Shows Little Impact on Prices
Do US states with more renewables pay more for electricity? No. Do they pay less? Not necessarily. Across all 50 states in 2024, the correlation between renewables share & residential retail price is very weak in either direction. More next newsletter https://t.co/In5lBaF2ox...
The Velocity of Flexibility: Avoiding the IPRR Hibernation Trap
The Australian Energy Market Commission’s Integrating Price‑Responsive Resources (IPRR) framework aims to bring distributed, price‑responsive assets into the National Electricity Market, but its current administrative rules create a “Commercial Hibernation Trap.” Operators of virtual power plants and voluntarily scheduled resources...
Spain's Renewables Stabilize Power Prices Amid Middle East Conflict
Spain’s growing reliance on renewable energy has helped keep power prices stable even as the war in the Middle East drives up costs, said the country’s minister for environmental transition https://t.co/PrGTYq4AVR
IEA Confirms Reuters Forecast: Russia’s Oil Production Slumps
April 2 - Reuters scoop that Russian oil output cuts are imminent https://t.co/5XWsLO71R7 May 13 - IEA says Russia's oil output down 460,000 bpd y/y in April.
ICE Extends VaR‑Based IRM 2 Margin Model to ERCOT Power Futures and Options
Intercontinental Exchange (ICE) announced that its IRM 2 Value‑at‑Risk portfolio margining model now covers U.S. ERCOT power futures and options. The move adds Texas contracts to more than 1,000 energy derivatives already using IRM 2, offering anti‑procyclical, capital‑efficient risk management as ERCOT...
IEA Predicts 2026 Global Oil Demand Falls 0.4 M
Global oil demand will contract by about 0.4m b/d in 2026, according to a new @IEA estimate. Pre-war, it saw a 0.9m b/d increase. IEA sees the bulk of the decline in OECD nations (>0.3 b/d), as non-OECD governments shield...
US Export Surge Holds Oil Market, Depleting Stockpiles
COLUMN: A massive surge in US exports has kept the oil market in check. But the clock is ticking: it's sustaining the flow using a stockpile. And unlike the printing presses of the Fed, it can’t just be topped up...
InterContinental Energy Offers Sub‑$66/MWh Renewable Power to Australian Data Centres
InterContinental Energy announced it can supply tier‑four data centres in Western Australia for less than $66/MWh (about $48 USD), a price roughly half that of competing on‑grid renewable contracts and a quarter of current gas‑based rates. The offer hinges on its...
Saudi Aramco Q1 Profit Surges 25% to $32.5 B as Iran Conflict Disrupts Oil Flows
Saudi Aramco posted a $32.5 billion first‑quarter profit, up 25% year‑over‑year, after the Iran‑Israel conflict choked the Strait of Hormuz and pushed Brent crude to $103.91 a barrel. The state‑owned oil giant credited full‑capacity use of its East‑West pipeline for mitigating...
Morgan Stanley Maps Four Oil Shock Scenarios From Fed Hikes to Global Recession
Morgan Stanley outlined four alternative macroeconomic scenarios surrounding its base case of a gradual Iran de‑escalation, a brief inflation spike and a patient Federal Reserve. Scenario 1 predicts a 100‑basis‑point Fed hike in 2027 as the oil shock fades, while Scenario 2...
Google Secures 500 MW Solar PPA with Linea Energy to Power Texas Data Centers
Google has signed a 15‑year power purchase agreement with Linea Energy for 500 MW of solar power from the Duffy Solar Project in Texas. The deal, the biggest annual solar purchase by a cloud provider, underpins Google’s 2030 carbon‑free energy goal...
Balcony Solar Advances In Colorado As New Legislation Removes Barriers
Colorado Governor Jared Polis signed HB26‑1007, a law that removes utility fees and HOA restrictions on plug‑in balcony solar systems. The legislation, effective Jan 1 2026, caps installations at under 2 kW and requires devices to include anti‑islanding features. Utilities must provide approved...
Eos Energy Enterprises Inc (EOSE) Q1 2026 Earnings Call Transcript
Eos Energy Enterprises reported Q1 2026 revenue of $57 million, a 445% year‑over‑year increase, and a $645 million backlog representing 2.6 GWh of storage contracts. The company posted a gross loss of $44.4 million but improved adjusted EBITDA loss to $68 million, reflecting...
XAI Adds 19 New Gas Turbines Despite Ongoing Lawsuit
Elon Musk's xAI has installed 19 new natural‑gas turbines at its Southhaven, Mississippi data‑center campus over the past two months. The move was revealed through internal emails obtained by WIRED. The expansion occurs while the company faces a lawsuit alleging...
UK Solar Installations Surpass Two Million Milestone
There are now more than 2 million UK solar installations #energysky -- via pv magazine global: https://t.co/aTHDiWzC73 https://t.co/bNQYg0uMvn
Iraq and Pakistan Strike Iran Transit Deals to Move Oil and LNG Through Hormuz
Iraq and Pakistan have each struck bilateral deals with Iran to secure transit of oil and LNG through the Strait of Hormuz after the U.S.–Israeli war sharply reduced regional energy flows. Iraq arranged safe passage for two very large crude...
Daily Energy Report
China’s crude oil imports plunged by more than 2.6 million barrels per day in March and April 2026, marking the lowest import levels in seven years. The drop coincided with a sharp price rise and the Hormuz Strait crisis, which constrained...
Advanced Grid Tech: Untapped Solution to Capacity Crisis
The grid is a near-term bottleneck, but there’s a largely untapped solution set sitting right in front of us — commercially available advanced grid technologies that are dramatically underdeployed.
WattEV Orders 370 Tesla Semis for Port of Oakland Deployment
WattEV has placed an order for 370 Tesla Semi trucks, with more than 300 slated for a joint program with the Port of Oakland. The first 50 units will arrive alongside new Megawatt Charging System stations in Oakland and Fresno,...
Oracle Switches to Bloom Energy Fuel Cells for 2.45 GW Project Jupiter Campus
Oracle announced it will power its 3‑million‑square‑foot Project Jupiter AI campus in Doña Ana County, New Mexico, with a Bloom Energy fuel‑cell microgrid capable of delivering up to 2.45 GW. The shift abandons a previously approved gas‑turbine and diesel backup design after...
Iran Rejects US Ceasefire Offer, Brent Crude Surges Above $105 a Barrel
Iran rebuffed a U.S. cease‑fire proposal, sending Brent crude up more than 3% to $105 a barrel and keeping the Strait of Hormuz largely closed. The escalation fuels inflation worries in commodity‑dependent emerging economies and tightens global oil supplies.
NESR Posts Record Q1 Revenue, Announces Dividend and $50 Million Buyback
National Energy Services Reunited Corp (NESR) posted a record $404.6 million first‑quarter revenue, up 33.5% year‑over‑year, and announced a quarterly dividend and a $50 million share‑repurchase program. The results came despite $4 million in extra freight costs tied to regional geopolitical disruption.
Star Catcher Industries Nabs $65M Series A
Star Catcher Industries announced a $65 million Series A round, led by B Capital with co‑leadership from Shield Capital and Cerberus Ventures. The new capital brings the company’s total funding to $88 million. Star Catcher is developing the first space‑based power grid that...
Germany’s Chancellor Labels Nuclear Phase‑Out a Strategic Mistake, Fueling Energy Debate
German Chancellor Friedrich Merz publicly called the 2023 nuclear phase‑out a “serious strategic mistake,” reviving criticism of the Energiewende. His remarks have sparked a heated debate among policymakers, industry leaders, and climate advocates about Germany’s future energy mix and the...
Michigan Gas Prices Slip to $4.72/gal, Analysts Warn Summer Surge
Michigan's average regular gasoline price fell to $4.72 a gallon, a 14‑cent drop from the previous week. Analysts say the brief relief could evaporate as summer travel demand rises and geopolitical risks keep crude oil near $100 a barrel.