Outrage as Oil Giants Profit Billions From Iran War – The Latest
Shell has reported $6.9 bn in profit since the Iran war began, buoyed by soaring global energy prices. The windfall has reignited public and political calls for higher taxes on fossil‑fuel producers to fund relief for households hit by rising costs. The debate highlights growing scrutiny of oil majors’ earnings amid geopolitical tension. The Guardian’s coverage includes an interview with energy correspondent Jillian Ambrose, underscoring the controversy surrounding corporate profit in wartime markets.
Crude Oil Moving Off of Low Levels and Back Toward the Next Target at the $95 Area
Crude oil bounced from session lows near $89.85 after finding support above $88.70, stabilizing the market as optimism around Iran negotiations faded. The rebound peaked at $97.34, but prices settled lower, with traders eyeing the $95 resistance – the 50%...
Clearway Energy Completes 320-MW Storage Project Complementing Existing Solar Arrays
Clearway Energy has commissioned the 320‑MW Honeycomb Energy Center in Utah, consisting of four 80‑MW battery storage units that provide 1,280 MWh of reserve capacity. The storage systems are paired with Clearway’s adjacent solar farms and are covered by 20‑year power...
Iraq’s Maiden LNG Terminal Facing Delay as FSRU Heads to Jordan
Iraq’s inaugural liquefied natural gas (LNG) terminal has been pushed back to 2027 because of ongoing Middle‑East hostilities. The floating storage and regasification unit (FSRU) originally slated for the Basrah project will instead be chartered to Jordan’s National Electric Power...
Ontario Advances Bruce C Nuclear Project with $300M Pre-Development Agreement
Ontario’s government directed the Independent Electricity System Operator to sign a $300 million cost‑sharing agreement with Bruce Power, unlocking funds for pre‑construction work on the proposed Bruce C nuclear expansion. The project, if approved, could add up to 4,800 MW of capacity at...
Eni's New Indonesia Find Will Anchor Third Regional Gas Hub
Eni announced plans to fast‑track a third gas production hub in Indonesia’s Kutei Basin after a successful drill test at its newly discovered Geliga field. The hub will become part of the Eni‑Petronas Searah regional satellite, leveraging existing infrastructure. The...
Trump Administration Officials Call for Federal Environmental Permitting Reform
At the SelectUSA Investment Summit, Trump administration officials announced a push to overhaul federal environmental permitting, targeting faster approvals for major infrastructure projects. The proposal includes a $14 million EPA budget increase to cut red tape, NEPA procedural reforms with deadlines...
Bernreuter: Daqo Sales Slump Reveals ‘Irrational’ Polysilicon Market Dynamics
Chinese polysilicon giant Daqo New Energy reported an 88.3% plunge in Q1 2026 sales even as output ticked up to 43,402 metric tons, up from 42,181 MT a quarter earlier. The stark mismatch, highlighted by Bernreuter Research head Johannes Bernreuter, signals a market where...
Blackstone Invests €2 Billion in Eurowind Energy: Billion-Euro Partnership Accelerates Expansion of Renewable Energy Projects
Blackstone is injecting roughly $2.2 billion into Danish developer Eurowind Energy to accelerate wind‑energy projects across Europe, with a focus on Germany. Eurowind currently has over 300 MW under construction and a 4.6 GW development pipeline in the country. The capital will fund...
The Future of US Energy Security: Building on Lessons From the Iran War
The Iran war has triggered the largest energy disruption in modern history, exposing both strengths and gaps in U.S. energy policy. America’s embrace of the shale revolution and the 2015 repeal of the crude‑oil export ban turned the country into...
Barclays Says It's the Best Buying Opportunity in 20 Years for These Oil Stocks
Barclays upgraded the U.S. energy services and technology sector to positive and raised several oil‑service stocks, including Halliburton, to overweight. The bank lifted Halliburton’s 12‑month price target to $55, implying roughly 36% upside from the current price. It also upgraded...
Iran Can Outlast Trump's Hormuz Blockade for Months
U.S. intelligence estimates Iran could withstand a full naval blockade of the Strait of Hormuz for 90‑120 days, challenging the view that a swift closure would force Tehran to negotiate. Despite sustained U.S. and Israeli strikes, Iran’s missile and drone...
Australia Confirms Domestic Gas Reservation Policy From 2027
Australia confirmed a domestic gas reservation policy effective July 2027, requiring exporters to set aside a portion of production for the local market. The government abandoned a previously considered 25 % gas tax, easing fiscal pressure on producers. The policy aims to...
General Motors Sourcing 100% Renewable Energy for US Operations
General Motors has become the first U.S. automaker to power all its domestic sites with 100 % renewable electricity, a goal it reached in 2025 and announced ahead of Earth Day 2026. The company’s renewable procurement, including wind and solar PPAs,...
CertainTeed Launches Roof- and Ground-Mount Systems for Its Own Solar Panels
CertainTeed, a century‑old roofing and building‑materials firm, has entered the solar‑mounting market with two new products: the Solstice Mounting System for pitched roofs and the Solstice Ground Mount for off‑roof installations. The roof‑mount system features lightweight, high‑strength rails, universal clamps...
Hawaii Legislators Voting on Bill Threatening State’s Solar Market
The Hawaii Senate is reviewing SB 3125, a tax‑relief bill aimed at easing the burden on low‑ and middle‑income households while reshaping several state tax‑credit programs. Central to the debate is the Renewable Energy Technologies Income Tax Credit (RETITC), which...
Greenvolt Next Delivers 2.2MWp Solar Farm at Astellas Dublin, Powering Their Sustainability Journey
Greenvolt Next has completed a 2.2 MWp ground‑mounted solar farm at Astellas' Damastown campus in Dublin, delivering the project in just four months. The installation comprises 3,192 panels and five inverters, supplying roughly 27% of the site’s electricity and cutting Scope 2...
Electric Truck Fleets Could Push Down Residential Rates by 2035: Report
A new E3 analysis funded by Powering America’s Commercial Transportation and the Edison Electric Institute finds that electrifying medium‑ and heavy‑duty truck fleets in California and Georgia could lower residential electricity rates by up to $20 per year by 2035....
University Research: Rear-Hanging Cable Shading Doesn’t Affect Bifacial Solar Project Output
Arizona State University’s new white paper shows that rear‑hanging cable bundles on bifacial solar farms cause a negligible performance hit—no more than 0.6% reduction in maximum power—compared with the 3%‑30% losses typically seen from mounting structures. The study, conducted with...
NRG Close to Completing 415-MW Gas Plant Backed by Texas Energy Fund
NRG Energy is set to finish a 415‑MW simple‑cycle gas unit at its TH Wharton plant in Houston this month, the latest step in a trio of Texas Energy Fund‑backed projects that together add 1.5 GW of capacity. The state‑backed fund...
735 Electric Buses Coming To Dubai Soon
Dubai’s Roads and Transport Authority will receive 735 electric buses in 2026, expanding its electric fleet to roughly 775 vehicles. The existing 40‑bus pilot has already avoided 59,263 tons of CO₂ in 2025 and achieved a 95% satisfaction rate among drivers...
FEOC, Uncertainty and Constraints: Real Estate Capital for Energy Storage Developers Is More Critical than Ever
Energy storage developers are grappling with tighter FEOC compliance that mandates at least 55% of equipment costs come from non‑FEOC sources in 2026, rising to 75% by 2030. Lending to clean‑power projects slowed dramatically in 2025, with growth falling to...
Versa Materials and AUMUND Partner on Domestic Battery Cathode Manufacturing Equipment, Targeting 50% CapEx Reduction
Versa Materials Technology of Austin and Germany’s AUMUND Corp have signed an exclusive MOU to adapt AUMUND’s conveying and thermal‑processing equipment for battery‑cathode calcination. The partnership will replace the traditional multi‑step co‑precipitation and saggar‑based calcination with a single‑step spray‑pyrolysis process,...
EU: Airlines Should Pay Passengers for Cancelations Due to Fuel Price Surge
European airlines face a sharp rise in jet‑fuel costs, with prices topping $200 per barrel and Lufthansa alone estimating a $2 billion hit this year. EU Sustainable Transport Commissioner Apostolos Tzitzikostas told the Financial Times that fuel price spikes do not...
Murphy Oil Avoids Gambling on Current Volatility
Murphy Oil Corp reported Q1 2026 net income of $53 million, down from a year earlier, but adjusted earnings per share of $0.32 beat estimates. Production increased 10% year‑over‑year to 180,053 boepd, driven by higher U.S. onshore output and progress on...
LNG Sector Seeing Near-Term ‘Supply Disruption’ Not ‘Demand Destruction’, Excelerate Says
Excelerate Energy, a U.S. floating regasification specialist, says the Middle East conflict is creating a short‑term supply disruption rather than eroding LNG demand. CEO Steven Kobos noted that new LNG projects coming online will expand the need for import and...
Norway Launches Bid Round, Approves Mature Gas Fields' Revival
Norway announced a fresh offshore licensing round while approving the restart of three mature gas fields, signaling a decisive push to boost domestic production. The revived fields are expected to add roughly 2 billion cubic metres of gas per year, reinforcing...
EDAM Is ‘Solid and Stable’ so Far, Says CAISO
The California Independent System Operator’s Extended Day‑Ahead Market (EDAM) launched on Friday and is operating smoothly, with prices across all commodities staying within expected ranges. Transfer volumes hit 600 MW, and all market areas passed 100% of the resource sufficiency test....
Sunrun Maintains 2026 Guidance Despite Q1 Headwinds, Pivots Toward Storage and Grid Services
Sunrun reported a mixed Q1 2026, posting negative $59 million cash generation but beating revenue expectations with $722 million, a 13% upside. The company shifted $31 million of project‑finance draws to Q2, deployed 154 MW of solar‑plus‑storage, and saw net subscriber value climb to...
Low-Carbon Technologies, Industrial Policy and Overcapacity in China
The analysis tracks China’s evolution into the world’s dominant supplier of low‑carbon technologies (LCTs) over the past two decades, highlighting how state‑driven industrial policy has propelled massive growth in solar panels, wind turbines and battery cells. While subsidies have secured...
Siris Acquires Renewable Energy Services Provider Takkion From Apollo
Siris Capital announced the acquisition of renewable‑energy services firm Takkion from Apollo, ending Apollo’s ownership that began in 2020. The transaction terms were not disclosed, but the deal adds Takkion’s solar and wind operations‑and‑maintenance platform to Siris’ growing clean‑tech portfolio....
BofA Raises Its Price Target on Permian Resources (PR) to $22
Bank of America raised its price target for Permian Resources (PR) to $22 from $20 on April 27, keeping a neutral rating. Scotiabank earlier lifted its target to $25 and maintained an outperform stance, while KeyBanc initiated coverage with an...
SatVu’s New HotSat-2 Satellite Captures Cuban Attempts At Oil Refining
SatVu announced that its HotSat‑2 satellite has achieved first‑light, delivering high‑resolution thermal infrared imagery of three strategic energy sites: Jamnagar refinery in India, Gorgon LNG plant in Australia, and the Hermanos Díaz refinery in Cuba. The satellite detected Cuba’s attempt to...
Competitive Markets Are Best for Virtual Power Plants, Consumers
Virtual power plants (VPPs) thrive when third‑party providers compete, delivering lower costs and grid resilience. Successful VPPs in Puerto Rico and California have scaled to hundreds of megawatts, showing tangible reliability benefits. A Brattle Group analysis estimates nationwide VPP deployment...
A Quieter Hurricane Season This Year Could Still Pummel the US Power Grid
Meteorologists project about 13 named Atlantic storms this season, slightly below average, but BloombergNEF research shows storm count alone doesn’t predict power‑grid damage. Hurricane Helene in September 2024 knocked out 9,138 transmission miles and left 7 million customers without power, yet its...
Hormuz Risk Is Redrawing the Supply Chain Geography of Energy
Geopolitical tension in the Strait of Hormuz is prompting a strategic shift in global energy supply chains. Japan has opened talks with the UAE to increase crude imports and create joint stockpiles, while the UAE’s Fujairah port offers an alternative...
USA Considers Tapping Oil Under Military Bases to Refill SPR
The Trump administration is evaluating the possibility of drilling for oil beneath U.S. military bases and other Department of War sites to help replenish the Strategic Petroleum Reserve (SPR), which is projected to hit its lowest level since 1982. The...
Citi Sees Oil ‘Moving Around Like Crazy’ in Hope-and-Fear Dance
Citigroup’s global head of commodities research Max Layton warned that oil prices will remain wildly volatile until a clear outcome emerges from the ongoing US‑Iran conflict. He highlighted the difficulty of predicting Iran’s actions under its new leadership, saying markets...
Exelon Lowers Utility Spending to Ease Electric Affordability Issues
Exelon announced a $350 million reduction in its 2024 capital spending plan, redirecting funds toward transmission infrastructure to help keep electric bills low. The utility will increase transmission investment by $1.5 billion, targeting a 16% annual growth in the transmission rate base...
Why Energy Storage Is Moving Beyond the Capex Debate
The energy‑storage debate is shifting from a narrow focus on upfront capital costs to a broader assessment of lifetime economics. While early projects relied on capex as a viability proxy, today investors and operators emphasize operating reliability, degradation, and risk...
Marinakis Gas Carrier Firm CCEC Speeds up Newbuild Deliveries in Market Boom
Capital Clean Energy Carriers (CCEC), owned by Evangelos Marinakis, announced it will accelerate the delivery of three of its nine LNG carriers. The firm arranged with Hyundai Samho Heavy Industries to receive the vessels ahead of schedule. This move aims...
Thistle Submits Bowdun Offshore Application
Thistle Wind Partners has lodged the offshore consent application for its 1 GW Bowdun Offshore Wind Farm with Scotland’s Marine Directorate. The project is designed to generate enough electricity to power over 1.2 million homes and will create more than 700 construction...
Oil Falls Below $100 on Peace Deal Hopes
Oil prices slumped on Thursday, with Brent crude falling 4.3% to $96.96 a barrel and U.S. West Texas Intermediate dropping 4.7% to $90.64. The decline pushed Brent below the psychologically important $100 threshold, driven by fresh optimism that a U.S.-Iran...
SEG Solar to Open Second Solar Panel Factory in Texas
SEG Solar is investing $200 million to build a 4‑GW solar module assembly plant in Houston, joining its existing 2‑GW facility and raising U.S. capacity to 6 GW. The 500,000‑square‑foot factory will start production in Q3 2026 and create about 800 jobs. The...
Airlines Are Grappling with Dwindling Supplies of Jet Fuel
Airlines are confronting a sharp decline in jet‑fuel availability after the near‑total shutdown of the Strait of Hormuz, a key conduit for both crude oil and refined products. The blockage has halted the export of Gulf‑sourced jet fuel, driving prices...
Ksi Lisims LNG in ‘Advanced’ Discussions for More Offtakers as It Targets FID by Year’s End
The Ksi Lisims LNG project in British Columbia has secured all construction permits and begun building its feed‑gas infrastructure. So far it has signed offtake contracts for 4 million tonnes per year and is now in advanced talks with additional customers. The...
EOG Profit Exceeds Expectations
EOG Resources reported adjusted net income of $1.83 billion for Q1 2026, surpassing the Zacks consensus of $3.07 per share with a $3.41 EPS beat. Revenue rose to $6.92 billion as crude and condensate output climbed to 548,500 bpd, while the company kept its...
Germany Opens €5bn Subsidy Scheme to Help Industry Electrify
Germany has launched the second round of its Carbon Contracts for Difference (CCfD) scheme, allocating €5 bn ($5.9 bn) to subsidise industrial electrification, hydrogen use and carbon capture. The programme pays the gap between EU ETS carbon prices and a pre‑set strike...
Seatrium and ABS Join Forces to Advance Maritime and Offshore Energy Spheres
The American Bureau of Shipping (ABS) and Seatrium Technology and Innovation have signed a memorandum of understanding to accelerate innovation, regulatory alignment, and sustainable technologies in maritime and offshore energy. The partnership will facilitate knowledge exchange, technical collaboration, and support...
Geopolitical Tensions Push Oil Trading Higher in Q1, easyMarkets Reports
Geopolitical tensions in early 2026 drove a sharp rise in crude‑oil trading on easyMarkets, making oil one of the fastest‑growing assets despite overall volume moderation after a hectic 2025. Gold stayed the platform’s most traded instrument, though activity fell about...