The Energy Department has unveiled a far-reaching deregulation proposal that targets as many as 47 rules for revision or elimination, including appliance efficiency standards, Strategic Petroleum Reserve procedures and diversity protections. The plan, expected to deliver $11 billion in savings to taxpayers, also seeks to streamline energy trade by allowing electronic applications for natural gas imports and exports and simplifying permits for international electricity transmission.
Crude Oil Climbs More Than $1.60 a Barrel on Tariff Cuts, Economic Outlook
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted...
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted by a temporary cut in U.S.-China tariffs and a better-than-expected inflation report.
Brent crude futures settled at $66.63 a barrel, up $1.67, or 2.57%. U.S. West Texas Intermediate (WTI) crude finished at $63.67, up $1.72or 2.78%.
The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to their import tariffs for at least 90 days, which also boosted stocks on Wall Street and the dollar.
"We didn't participate as much as other markets did yesterday in the China boom, so we're catching up today," said John Kilduff, a partner with Again Capital LLC. "Also the data this morning gives the Fed room to potentially begin making some moves."
NRG Stock Soars on $12B NatGas Power Plant Fleet Acquisition
NRG Energy is buying a fleet of natural gas-fired power plants in a $12...
NRG Energy is buying a fleet of natural gas-fired power plants in a $12 billion cash-and-stock transaction. The deal is expected to close in the first quarter of 2026.
The deal comes as natural gas producers and power generators are excited about growing electricity demand across the U.S. NRG shares were up over 24% in afternoon trading on May 12.
NRG’s acquisition from LS Power Equity Advisors includes 18 power facilities totaling 13 gigawatts (GW) of generation capacity, the companies said May 12. The assets are located across nine states, including the Northeast and Texas, and double NRG’s generating capacity to 25 GW.
The consideration includes $6.4 billion of cash, $2.8 billion in stock to LS Power, and $3.2 billion of assumed net debt. The combination is expected to generate $400 million in tax credits.
After closing, LS Power will own around 11% of the pro forma NRG shares outstanding. The company has committed to a six-month lock-up period regarding its NRG equity ownership.
Supply chain constraints, rising labor and material costs and looming...
Supply chain constraints, rising labor and material costs and looming EU methane standards are complicating the US liquefied natural gas industry's expansion plans and ability to meet rising European demand, attendees said at a recent industry event. Developers are pursuing third-party emission certifications to align with new EU regulations while also contending with domestic policy barriers, such as tariffs on imported steel and aluminum and forthcoming requirements to ship more LNG on US-built vessels.
US natural gas liquids exports reached a record 2.9 million barrels per...
US natural gas liquids exports reached a record 2.9 million barrels per day in April despite a trade war with China, which imposed and then quietly waived a 125% tariff on US ethane. Other countries, including India, Brazil and Japan, increased imports significantly.
