Sunday, 12 July 2026

US officials told indirect talks in Qatar this week that a nuclear deal would benefit Iran more than collecting tolls in the Strait of Hormuz, according to Semafor Net Zero.

Daily flows through the waterway now top 10 million barrels, a US official told Bloomberg, describing the increase as a sign that Tehran has limited power over traffic there.

That rebound in commercial shipping through the strait could give the US added leverage in its talks with Iran, analysts told Semafor Net Zero.

Iran's chief negotiator said the country exported nothing during the US blockade but has moved 40 million barrels since it ended, according to Semafor Net Zero.

Toyota's global sales, including the Lexus brand, fell 7.2% in May 2026 from a year earlier to 834,279 units, according to Electrek. Over the same month, the company's global electric vehicle sales rose 170% to 37,313 units, Electrek reported.

The steepest drop came in China, one of Toyota's largest markets, where sales fell 31.7% in May to 102,299 units, according to Electrek. Toyota attributed the China decline in part to rising gasoline prices, citing a challenging market environment that led to a year-on-year decrease.

Battery electric volume climbed faster over the year to date. Through May 2026, Toyota sold 155,074 battery electric vehicles, up 138% from the same period in 2025, according to Electrek. Even so, pure-electric vehicles accounted for only 7% of Toyota's total sales through May, Electrek reported.

In the United States, Toyota bZ sales reached 17,553 in the first half of 2026, up 90% from the prior year, according to Electrek. The 2026 bZ offers up to 314 miles of range, 25% more than the outgoing model, and starts at USD 35,000, Electrek reported.

Eni and Mercuria have signed an agreement to merge their main trading books for oil, liquefied natural gas (LNG) and biofuels under a new entity based in Geneva, according to statements reported by World Oil on Wednesday.

The two firms expect the joint venture to be operational in 2027, with equal representation at the senior managerial level, according to a spokesperson for Eni cited by World Oil. The same spokesperson said Eni does not currently expect refinery assets to form part of the venture.

"This partnership brings together two highly complementary organizations," Mercuria Chief Executive Officer Marco Dunand said.

Mercuria's first-half profit jumped 88%, putting the firm on track for one of its best-ever annual results, according to World Oil. The company also committed USD 1.2 billion to help finance the buyout of a copper mining company in Kazakhstan.

Red Eléctrica has finished a submarine power link tying the islands of Tenerife and La Gomera into one electrical network.

The connection runs a 36 km, 66 kV double-circuit line combining underground and undersea sections, backed by two 66 kV substations at El Palmar on La Gomera and Chío on Tenerife.

The cable itself carries a price tag of EUR 145 million, on top of the earlier spending on the two substations. Chío came online in December 2024, followed by El Palmar in July 2025.

With the link in place, the archipelago gains a second electricity subsystem pairing La Gomera and Tenerife, after the earlier Lanzarote-Fuerteventura grouping.

Redeia Chairwoman Beatriz Corredor said the project strengthens the reliability of power supply across the two islands.

President of Islas Canarias Fernando Clavijo said the cable ends La Gomera's isolation from the grid and lets it share a single system with Tenerife, so each can back the other during breakdowns or supply shortfalls.

The Hazle Township board voted on June 8 on a zoning ordinance that would pause data center applications in the town for 180 days, according to Inside Climate News. The vote targeted the Project Hazelnut proposal, which includes 15 data center buildings and an electrical substation across a nearly 1,300-acre site.

The local pause came weeks after Pennsylvania state legislators introduced a Senate bill that would block data center development for three years, Inside Climate News reported. More than 60 data center proposals have sprung up in Pennsylvania in the last year.

A few miles from Hazleton, residents in Kline Township have questions about a data center proposal that would include up to 10 buildings across more than 300 acres, according to Inside Climate News. Amazon Web Services put in an application for a data center at the Devil's Mountain site near Kline Township.

Opposition in the region is the highest in the state. According to recent polling cited by Inside Climate News, 33 percent of residents in the region strongly oppose data center development in or near their communities, the highest percentage in the state.

Luzerne County, where Hazleton is located, is home to three Superfund sites, according to Inside Climate News.

Green Flexibility has agreed to acquire a 750 MW/3 GWh battery storage portfolio in Germany from developer Kajoni, according to ESS News. The deal follows Kajoni advancing the projects through the country's grid connection maturity process.

Under the agreement, Kajoni will continue developing the projects to ready-to-build status, ESS News reported. Green Flexibility will provide capital during the development phase before taking over construction, operation, and commercialization of the battery energy storage systems.

Germany's transmission system operators introduced the grid connection maturity process this year to allocate connections for large-scale battery storage projects, according to ESS News. The first application round opened in April, replacing the previous system with a more capital-intensive development process.

Green Flexibility and Stadtwerke Menden will build a 10 MW/25 MWh battery energy storage system in western Germany, ESS News reported. Construction is scheduled to begin in September, with commissioning expected in Q2 2027.

The Department for Energy Security and Net Zero updated its list of successful local authorities under the Warm Homes: Local Grant on 2 July 2026, reflecting additional funding given to some local authorities in the first year of delivery.

The grant will be delivered from 2025 until 2028 through local authorities in England, according to the department.

The scheme provides energy performance upgrades and low carbon heating to low income households in England, according to the department. Eligible homes must hold an Energy Performance Certificate between D and G and be privately owned, whether owner occupied or privately rented.

The Nuclear Regulatory Commission has proposed a 553-page rulemaking to rewrite core pieces of the regulatory framework governing commercial nuclear plants, according to Power Magazine.

The rule addresses how commercial nuclear plants are sited, licensed, built, modified, operated, renewed, fueled, and decommissioned, per Power Magazine.

The proposed rule was issued July 1, according to Power Magazine.

Alpiq has secured preliminary grid connection approval from Swissgrid for a 300 MW/1.2 GWh battery energy storage system at Niedergösgen in the canton of Solothurn, according to ESS News.

The facility will sit near the Gösgen run-of-river hydropower plant and is expected to rank among the largest battery storage installations in Switzerland, ESS News reported.

Construction is scheduled to start in 2027, with commissioning planned for 2029.

Alpiq said the system will hold enough stored energy to cover the electricity needs of about 500,000 households.

The utility's battery storage development pipeline now exceeds 1 GW across several European markets, according to ESS News. Of that total, 130 MW is already operational and 230 MW is under construction.

Genel Energy PLC has agreed to acquire Capricorn Energy PLC for an expected price of $360 million, or GBP 271 million, expanding into Egypt, according to Rigzone.

Under the agreement disclosed in regulatory filings, each shareholder of London-listed Capricorn is entitled to $4.74 in cash plus a special dividend of $0.99 per share, the companies said.

The combined business would hold pro-forma 2P reserves of 117 mmboe and production of 41,003 bopd based on the combined December 2025 exit rate, split evenly between Kurdistan and Egypt, according to Rigzone.

A consolidated Egyptian license allowed Capricorn to book an additional 20.2 MMboe in 2P reserves, according to Rigzone.

Genel derives its production from the Kurdistan region of Iraq and holds exploration licenses in Oman and Somaliland, according to Rigzone.

Genel held $222 million in cash at the end of the first quarter, with total debt of $92 million and net cash of $131 million, the company said in its quarterly report dated May 7.

BYD sold 403,472 all-electric and plug-in hybrid vehicles worldwide in June, its second consecutive monthly sales increase, according to electrive. Sales rose 5.5% year-on-year and 5.2% compared with May.

The gains came from overseas markets. Electrive reported that BYD's overseas sales reached a record 175,349 vehicles in June, up nearly 95% against June 2025.

The picture at home was weaker. In China, BYD sold 228,123 new energy vehicles in June, a 22% year-on-year decline, according to electrive.

For the second quarter, BYD sold 1.108 million NEVs, a 3.2% decline against the same quarter a year earlier, electrive reported. Sales surged more than 58% compared with the often weaker first quarter in China.

Across the first half of the year, total sales reached 1.81 million vehicles, 15.7% below the previous year's figure, according to electrive. Domestic sales in China fell almost 40% year-to-date, while international sales jumped over 70% to 792,256 vehicles.

Kongsberg has landed a contract to supply protection technology for critical infrastructure, with the buyer identified only as an international customer, Offshore Engineer OEDigital reported.

Underwater surveillance and protection form the core of the work, and Kongsberg did not disclose what the deal is worth.

The scope reaches across oil and gas installations, telecommunication cables, energy grids, ports and transportation networks.

Sunner has launched True Wind, a predictive monitoring system that detects wind-induced galloping in solar trackers before structural damage occurs, according to pv magazine.

Sunner is the solar tracker control systems division of Spanish engineering company IED, according to pv magazine. The company positions True Wind as a way to spot the onset of aeroelastic instabilities in tracker structures before they cause harm.

The system draws on data from Sunner's Galloping Avoidance Unit, a sensor installed on the tracker torque tube that measures the structure's torsional behavior during operation, according to pv magazine.

Sunner said the technology can be deployed in both new and existing photovoltaic plants without requiring modifications to tracker structures.

True Wind received The smarter E Award 2026 in the Photovoltaics category at Intersolar Europe, according to pv magazine.

OMV AG and Energie Steiermark AG have opened an early-stage geothermal project in Styria that could reach 670 gigawatt hours a year of heating output, according to Rigzone.

First heat could flow as early as 2030, according to Rigzone. Added capacity through 2037 would cover the equivalent of district heating for roughly 50 percent of the greater Graz area, the partners said.

The venture follows a seismic survey run this year across about 900 kilometers, according to Rigzone. Results from that survey are feeding into the next phase of the Tiefenkraft project.

Drilling on an exploration well named Petersdorf 2, sited in St. Marein near Graz, is due to start in the fourth quarter of 2026, according to Rigzone.

Ownership splits 75 percent to OMV and 25 percent to Energie Steiermark, Rigzone reported.

Energie Steiermark board members Martin Graf and Werner Ressi described the project as the largest single investment in the utility's history, according to Rigzone.

A separate OMV geothermal venture with Wien Energie began drilling in Vienna in 2024 for a heat plant of about 20 megawatts, enough for 20,000 households, according to Rigzone. That plant is set for commissioning in 2028 at an estimated EUR 90 million.

TU Wien has launched the eMOTION Lab, a research platform for power electronics and electric drivetrain technology, according to electrive.

The first phase of the infrastructure, an inverter test bench, has been operational since the beginning of July, electrive reported. The bench is open to industrial companies, research institutions, and university partners for development and testing.

Core research areas at the lab include inverter technologies, efficiency optimisation, thermal management, and immersion cooling, where electronic components are directly surrounded by a liquid, according to electrive.

TU Wien plans to expand the laboratory with a high-voltage integration test bench and an e-axle test bench.

The eMOTION Lab is based at Automotive & Mobility Engineering GmbH (ame), a wholly owned subsidiary of TU Wien. Austrian company AVL List is among the partners providing test and measurement technology for the research infrastructure, according to electrive.

Gulf sovereign wealth funds invested USD 53.9 billion across 108 transactions in the first half of 2026, an all-time high, according to data compiled by Global SWF.

Abu Dhabi's Mubadala led the field, deploying USD 15.2 billion so far this year to rank as the world's most active sovereign fund in the first half, Global SWF said.

Half of the world's largest deals this year involved Gulf sovereign capital, according to Global SWF. China was a distant second as a destination, receiving 17% of Gulf investments.

Rivian handed over 12,194 vehicles in the quarter that closed June 30, 2026, running past its own delivery outlook of 9,000 to 11,000 units, according to Electrek. Output at its Normal, Illinois plant reached 12,613 vehicles across the same period.

Electrek attributed the delivery figure clearing the outlook to quarter-over-quarter gains in EDV and R1, plus the start of R2 deliveries.

Rivian raised its full-year 2026 delivery guidance to a range of 65,000 to 70,000 vehicles, up from the earlier band of 62,000 to 67,000, according to Electrek.

Second quarter 2026 financial results are due after market close on July 30, 2026. An audio webcast follows at 5:00 p.m. ET that day covering business performance and outlook.

TotalEnergies is building the 8.9 MW Les Brandes solar park on an archaeological site in France's Dordogne department, using shallow gabion foundations to avoid disturbing buried remains, according to pv magazine. The ground-mounted plant occupies 9 hectares across the municipalities of Ménesplet and Montpon-Ménestérol, with Spanish EPC contractor Ijes Solar carrying out construction.

Conventional pile-driven or excavated foundations were ruled out because of the risk of disturbing buried archaeological remains, pv magazine reported. Instead, the project supports its photovoltaic mounting structures on gabions installed on a gravel bed, which distribute loads across the surface and provide structural stability without deep excavation.

The archaeological remains were identified during a survey carried out by France's National Institute for Preventive Archaeological Research (INRAP) in September 2024, according to pv magazine.

The project received its building permit in 2023, construction began in September 2025, and commissioning is scheduled for summer 2026.

The plant will generate enough renewable electricity to meet the annual consumption of nearly 3,500 households, according to TotalEnergies Renewables France project manager Anne Frederic.

Oil and gas executives surveyed for the second quarter 2026 Dallas Fed Energy Survey put the average Henry Hub natural gas price at $3.36 per MMBtu by the end of 2026, according to Rigzone. That estimate came from 123 firms and ran above the $3.15 per MMBtu average daily spot price recorded during the survey period.

Forecasts among the 123 firms spanned a wide range, with a low of $2.00 per MMBtu and a high of $4.65 per MMBtu, according to Rigzone.

A separate question drew responses from 97 firms, whose mean forecasts climbed further out the curve. Rigzone reported executives gave $3.35 per MMBtu at the six-month mark, $3.45 at one year, $3.75 at two years, and $4.14 at five years.

The August natural gas contract closed at $3.275 per MMBtu on Tuesday, a rise of 9.4 cents or 3.0 percent from Monday's close, according to Rigzone.

EBW Energy Analyst Eli Rubin said the August contract tested as high as $3.328 on Tuesday afternoon before falling alongside cooler weather forecasts over the eastern U.S. into mid-July.

Rubin also said the natural gas surplus to five-year norms may reach an injection-season high above 160 billion cubic feet with the Thursday EIA report.

ADNOC's XRG has closed a deal for an extra 7.6% equity interest in Trains 4 and 5 of the Rio Grande LNG project, buying the holding from an acquisition vehicle of Global Infrastructure Partners, part of BlackRock, according to Offshore Engineer OEDigital.

The purchase raises XRG's total participation in the NextDecade-operated project. XRG already held an indirect 11.7% stake in Phase 1, which covers Trains 1, 2 and 3, acquired in its initial investment through Global Infrastructure Partners.

All customary regulatory approvals cleared the transaction, including sign-off from the Committee on Foreign Investment in the United States (CFIUS), Offshore Engineer OEDigital reported.

XRG expects Trains 4 and 5 to deliver combined LNG production capacity of about 12 million tonnes per annum.

Across its five trains, Rio Grande LNG has roughly 30 million tonnes per annum of liquefaction capacity under construction. First gas into the facility is expected in the second half of 2026, with production starting in the first half of 2027.

Mohamed Al Aryani, President of XRG's International Gas business, said the project connects U.S. gas supply with international demand.

The Department of Energy has proposed a rule that would revise how it sets efficiency requirements for household appliances, a step the agency frames as ending federal mandates on those products.

The move comes through a Notice of Proposed Rulemaking that targets the Process Rule, the framework governing energy conservation standards for goods such as air conditioning units, gas stoves, washers and dryers, water heaters, and refrigerators, according to the Department of Energy.

The agency said it is acting under President Donald Trump's Executive Order "Unleashing Prosperity through Deregulation," which it cited as the basis for a change aimed at cutting costs and expanding consumer choice.

Public comments on the proposal will be accepted for 30 days after it appears in the Federal Register, according to the Department of Energy.

Alongside the rulemaking, the agency opened a Request for Information asking for input on the methods it uses to develop conservation standards for covered products and equipment, with a 60-day comment window running from publication in the Federal Register.

Audrey Robertson, Assistant Secretary of Energy for EERE, said the proposal is intended to make new regulations more affordable and to protect consumer choice.

Victoria approved four renewable energy projects carrying a combined 1.64 GW of battery energy storage capacity through its Development Facilitation Program, according to ESS News, which reported the program launched in 2024 to accelerate planning approvals for clean energy projects.

The AUD 130 million (USD 89.7 million) Chivers Road battery will be built on the site of Pacific Partnerships' 130 MW Glenrowan Solar Farm in northern Victoria, according to ESS News.

The Morwell battery is listed as a 620 MW/2,480 MWh system, but the ministerial permit approves up to 1,000 MW/4,000 MWh capacity, ESS News reported. That project is expected to reach financial close by the end of 2027 and to be operational in late 2029.

The USD 600 million Nine Mile Energy Park near Geelong pairs two co-located batteries: a 250 MW/500 MWh storage system and a 250 MW/1,000 MWh battery, according to ESS News.

More than 30 renewable energy projects worth a combined AUD 11 billion have been approved through the DFP since it was expanded in 2024 to include renewable energy projects, the state government said, a change that removed the planning panel process and third-party appeals.

Victoria Planning Minister Sonya Kilkenny said the changes are aimed at delivering cheaper renewable energy sooner. "We're making good decisions faster so Victorians can benefit from cheaper renewable energy sooner," Kilkenny said.

The first monopile for Vattenfall's Nordlicht I wind farm is now in the seabed of the German North Sea, marking the start of offshore construction on the wider Nordlicht cluster, Offshore Engineer OEDigital reported.

The cluster lies roughly 85 kilometers north of Borkum and pairs two projects: Nordlicht I at 980 MW and Nordlicht II at 630 MW, according to OEDigital.

Foundation work on Nordlicht I covers 68 monopiles paired with transition pieces, OEDigital reported. Individual monopiles run up to 80.5 meters and reach weights of 1,290 tonnes.

OEDigital said both wind farms are due online in 2028, with combined output expected at around 6 terawatt hours of electricity a year after full commissioning.

DEME holds the contract for transporting and installing the foundations and transition pieces across Nordlicht I and Nordlicht II, OEDigital reported.

Manufacturing splits between two suppliers: EEW Special Pipe Constructions builds the monopiles in Rostock, while CSWind produces the transition pieces in Aalborg, according to OEDigital.

OEDigital reported that turbine towers on the projects use partly low-emission steel, which the outlet said cuts their overall carbon footprint by around 16%.

The United States produced 1,073.7 bcm of natural gas in 2025, accounting for 25.6 percent of total production that year, according to a review cited by Rigzone.

Global natural gas production reached 4,196.5 bcm in 2025, a 1.6 percent year-on-year increase, Rigzone reported from the review.

Russia ranked as the second biggest producer at 609.4 bcm, a 3.0 percent decline from the prior year, according to the review. Iran was third with 264.8 bcm, representing 6.3 percent of total production, Rigzone reported.

On the demand side, the United States was the biggest consumer at 913.4 bcm, or 21.8 percent of total global consumption, according to the review. China was the third biggest consumer at 441.9 bcm, with demand growing by an average of 8.5 percent per year from 2015 to 2025, Rigzone reported.

Gas-fired power generation grew by only 0.6 percent in 2025, with the majority of consumption growth driven by other consumers such as chemicals, according to the review.

Consumption growth was concentrated in Europe at 4.2 percent, Africa at 3.6 percent, and the Middle East at 2.9 percent, Rigzone reported.

Kyrgyzstan asked regional partners Kazakhstan, Azerbaijan and Turkmenistan this week to help secure gasoline supplies for its domestic market, according to a statement from its Energy Ministry cited by Rigzone.

The request follows gasoline shortages in Russia, where refinery outages tied to Ukrainian drone attacks have cut into fuel supplies, Rigzone reported. By the end of June, roughly 90% of Russian regions had reported fuel rationing or some form of supply disruption, based on statements from local authorities and media reports cited by Rigzone.

Moscow blocked gasoline exports starting April 1, with exemptions for shipments under intergovernmental agreements that cover some Central Asian nations, according to Rigzone.

Uzbek prices show the strain. On the commodity exchange, AI-92 gasoline rose 11.8% since the start of June, reaching 13.9 million soums (USD 1,163) a ton, Rigzone reported. Daily supply of gasoline on that exchange dropped by about 50% on June 1 against the previous week, according to Rigzone.

Kazakhstan, the region's largest oil producer, halted rail exports of certain petroleum products and light distillates and tightened its border, cutting vehicle crossings to once a day, Rigzone reported. Prime Minister Olzhas Bektenov on June 20 directed officials to take every measure needed to head off fuel shortages, including firmer border controls, according to Rigzone.

CTM Cagliari has received 47 electric Iveco E-Way midi-buses, each 10.7 meters long, according to electrive. The delivery lifts the operator's fleet to a total of 236 e-buses.

Electrive reports the vehicles were procured under Italy's National Recovery and Resilience Plan (NRRP). The entire investment programme amounts to approximately EUR 92 million, allocated to CTM to support its ecological transition.

Each midi-bus carries an NMC battery with a total capacity of 350kWh, enabling a range of up to 350km on a single charge, according to electrive.

CTM Cagliari has achieved a 70% electric share in its bus fleet and aims to operate only zero-emission vehicles by 2030.

Tesla delivered 480,126 vehicles in Q2 2026, up 25% from the same quarter a year earlier and roughly 74,000 units above Wall Street's consensus, according to Electrek.

The company produced 451,758 vehicles in the quarter, Electrek reported. The Model 3 and Model Y drove the bulk of the volume, accounting for 442,936 units produced and 467,762 delivered.

The result marks Tesla's best-ever Q2, surpassing the 466,140 vehicles delivered in Q2 2023, according to Electrek. It still trails the company's all-time record of 497,099 deliveries set in Q3 2025.

The quarter reverses a weak start to the year. Tesla delivered 358,023 vehicles in Q1 2026, missing a consensus of 365,645 and building more than 50,000 vehicles it could not sell, Electrek reported.

Tesla deployed 13.5 GWh of energy storage products in Q2 2026, up more than 40% from the 9.6 GWh deployed in Q2 2025, according to Electrek.

BYD stayed ahead of Tesla in global battery-electric sales, delivering 557,090 fully electric vehicles in Q2 2026, Electrek reported.

The UK Secretary of State issued a decision on the Dean Moor Solar Farm development consent order on 2 July 2026, according to UK DESNZ.

The project is being developed by FVS Dean Moor Limited in West Cumbria under the Planning Act 2008. UK DESNZ states the development sits wholly within the Cumberland Council administrative area.

The solar farm is designed to maximise a 150 MW distribution network connection capacity, according to UK DESNZ. It has the potential to generate up to 134 GWh of electricity annually.

Russia launched drone and missile strikes on Kyiv that killed at least 17 people, according to Semafor Net Zero, in retaliation for recent Ukrainian attacks that have hit Russia's economy.

Ukraine has taken out almost 30% of Russia's refining capacity over the past few weeks, Semafor Net Zero reported, causing widespread fuel shortages. The shortages have weakened Russian President Vladimir Putin's standing and sparked rare signs of dissent, according to the same report.

The EU has begun disbursing billions of dollars to strengthen Kyiv's defenses and announced new sanctions on the Kremlin, Semafor Net Zero reported.

"We keep raising the cost until Russia understands it cannot win," the bloc's chief diplomat wrote on X.

Shell agreed to hand its 50% stake in its only non-operated Gulf of America platform, along with the linked fields, and its full 100% holding in the Coulomb tieback, to Ridgewood Energy and Talos Energy in a USD 1.7 billion deal, Rigzone reported.

The platform in question, the Na Kika semisubmersible, is run by BP under a matching 50% interest. It fed 37,000 barrels of oil equivalent a day into Shell's output during 2025, Rigzone reported.

At the close of 2025, Na Kika held 4.3 million boe of Shell's proven reserves, and Coulomb carried 7.2 million boe, according to Rigzone. Shell's own modeling shows neither asset supplying meaningful volumes by 2030.

Clearing the sale of Na Kika and its four tied fields, named Ariel, Fourier, Herschel and Kepler, depends on BP declining its option to buy the stake it does not currently hold, Rigzone reported.

Shell upstream president Peter Costello framed the move around portfolio positioning, calling the Gulf of America "one of our highest-value basins" and pointing to work aimed at keeping the upstream business "resilient and increasingly competitive".

Separately, Shell closed the transfer of Jiffy Lube International to Monomoy Capital Partners for USD 1.3 billion, according to Rigzone.

Both disposals feed a structural cost reduction target Shell set last year, ranging from USD 5 billion to USD 7 billion, to be delivered by 2028 measured against 2022.

Tesla delivered 480,126 electric vehicles globally in the second quarter of 2026, a 25 per cent increase over the 384,122 units handed over in the same quarter of 2025, according to electrive.

Production reached 451,768 vehicles in the quarter, up 10 per cent from the 410,244 vehicles built a year earlier, electrive reported. Because deliveries outpaced output, the stock of unsold vehicles fell by 28,358 units. That reversed the pattern of Q2 2025, when production exceeded sales and inventory built up.

Compared with the opening quarter of 2026, deliveries rose 34 per cent while production stayed nearly flat, according to electrive. Tesla produced 408,386 vehicles and delivered 358,023 in Q1 2026.

The Q2 2026 total sits close to the all-time high of 497,099 vehicles set in Q3 2025, electrive said. That earlier peak was driven by a pull-forward effect ahead of the phase-out of electric vehicle incentives in the US.

The quarter marks a shift after a weaker prior year. Tesla's deliveries declined by 9.1 per cent last year, falling to around 1.6 million vehicles, according to electrive.

Tesla plans to ramp up production at its Grünheide plant in two phases, raising weekly output from the current 5,000 Model Y units to 7,500 vehicles by October, electrive reported.

In Germany, Tesla recorded 5,111 new registrations in May, a 322.4 per cent increase and the latest available figure from the Federal Motor Transport Authority.

The Massachusetts Senate passed a sweeping energy-affordability bill that aims to save residents USD 14 billion over 10 years, according to Canary Media.

The measure targets a state that has some of the country's highest utility costs, Canary Media reported.

The legislation includes measures that would change the state's energy procurement process, according to Canary Media.

Tesla deployed 13.5 GWh of energy storage capacity worldwide in the second quarter of 2026, according to ESS News. The figure marked the company's second-largest quarterly total, falling just short of the 14.2 GWh deployed in Q4 2025.

The Q2 volume rose 53% from the 8.8 GWh deployed in Q1 2026 and climbed 40% against the 9.6 GWh deployed in Q2 2025, ESS News reported. The latest installations lifted Tesla's cumulative deployments to more than 132 GWh since 2016.

Tesla will hold its second-quarter financial results webcast at 5:30 p.m. ET on July 22, 2026.

ESS News also pointed to a recent agreement Tesla signed with Sunrun and Renew Home to offer 16.8 GW of flexible power output to hyperscalers and grid operators through a virtual power plant (VPP).

Wood Mackenzie reported total US energy storage deployment of 8.4 GWh across all sectors in Q1 2026, a 41% increase compared with Q1 2025.

A University of Michigan life-cycle analysis finds that both battery-electric and hydrogen fuel cell heavy-duty trucks can significantly reduce lifetime emissions when powered by low-carbon energy, according to Hydrogen Fuel News.

The analysis compares conventional diesel trucks against battery-electric and hydrogen fuel cell options, according to Hydrogen Fuel News.

The UK Department for Energy Security and Net Zero has published guidance telling energy suppliers how to apply discounts to domestic tariffs from 1 April 2026, tied to the Renewables Obligation (RO) to Exchequer scheme and the closure of two support schemes. The guidance follows a 2025 Autumn Budget commitment to take an average of GBP 150 off household energy bills.

According to the department, the policy changes introduce the RO to Exchequer scheme and end funding for the Energy Company Obligation (ECO4) scheme and the Great British Insulation Scheme (GBIS). The tariff discounts apply from 1 April 2026.

The guidance applies to England, Scotland and Wales. It was first published on 18 March 2026 and last updated on 2 July 2026. The most recent revision made changes to paragraph 9 exemptions in the guidance for suppliers.

An earlier update on 28 April 2026 added information on unapplied discount adjustments, the monitoring process for tariffs not subject to the price cap, and the compliance process.

Wage talks under state mediation began Wednesday between Norwegian unions for offshore drilling and floating platform crews and their employers, with both sides trying to stop a walkout set for Friday that would idle four named installations, according to Offshore Engineer OEDigital.

Styrke, Safe and DSO put the first wave of strikers at more than 600 members, with room to widen the action, according to Offshore Engineer OEDigital. The disputed pay deal spans roughly 7,500 workers.

A first walkout would pull crews off Transocean's Encourage rig, Odfjell Technology's Linus rig, the AKOFS Seafarer well intervention vessel and Equinor's Gullfaks B platform, the outlet reported.

Production has already taken a hit. Aker BP closed one production well at its Tambar oilfield in the North Sea, citing the labour dispute, according to Offshore Engineer OEDigital. That well ran at about 4,000 barrels per day in the first quarter, an Aker BP spokesman said.

Employer group Offshore Norway put this week's likely output cut from the oil service strike at about 12,000 boepd, according to Offshore Engineer OEDigital. Should the stoppage run past mid-July, the group said losses could top 120,000 boepd against Norwegian output that averages around 4 million boepd.

Positions stiffened before Wednesday's session. The employer side locked out about 1,000 workers, while Safe added 63 members to its strike from Wednesday, the outlet reported.

U.S. Secretary of Energy Chris Wright issued a statement welcoming the Working Families Tax Cut, which sets a July 4, 2026 deadline after which federal tax credits stop flowing to new wind and solar projects not yet under construction, according to the U.S. Department of Energy (DOE).

The two technologies made up roughly three percent of total U.S. primary energy consumption in 2025, the DOE statement said.

Wright argued that wind and solar require 100 times more land to produce a comparable amount of energy. He also said both push system costs higher and lift the electricity prices paid by Americans.

Data center developers in Pennsylvania plan to rely on at least seven new natural gas-fired power plants that would emit greenhouse gases equivalent to adding 14 million cars to the road annually, according to a new report. The Environmental Integrity Project, an advocacy group, said the plants would together emit some 68 million tons of carbon dioxide equivalent each year.

That volume would represent a 24% increase over Pennsylvania's emissions as of 2022, according to the report. The planned plants would produce about 14 gigawatts of power combined.

The report singled out the Homer City Generating Station, which if fully converted to natural gas would emit more than 17.5 million tons a year of CO2 equivalent and create up to 4.7 GW of power. A plant at Shippingport in Beaver County would emit 21.1 million tons a year of greenhouse gases, with a generating capacity of 3.6 GW.

The pattern extends beyond Pennsylvania. Nationally, at least 74 gas-fired power plants are planned to fuel the data-center industry, generating 662 million tons of greenhouse gases, according to the report.

Data centers have also driven demand for renewable capacity. They accounted for half of the contracted wind and solar capacity in 2024, Aaron Tinjum said, quoting research by S&P Global.

Saudi Arabia shipped 6.3 million barrels a day of crude oil in the six days through Wednesday, according to tanker-tracking data compiled by Bloomberg. That level puts flows at about the same as the 2025 average and at almost 90% of February volumes.

If sustained, the shipments would mark a significant jump from June, when exports ran at about 4.45 million barrels a day, according to Bloomberg tanker tracking.

Saudi ships have been ramping up volumes from Ras Tanura, sending the first supertankers into the Gulf of Oman since the Iran war began.

The rebound follows an interim peace deal agreed by Washington and Tehran that included an agreement allowing ships to pass through Hormuz again. Iran's Islamic Revolutionary Guard Corps has continued to claim it controls the Strait of Hormuz despite the interim deal.

Centrus Energy has finalized a $900 million task order with the U.S. Department of Energy (DOE) tied to its high-assay low-enriched uranium (HALEU) cascade in Piketon, Ohio, according to Power Magazine.

The task order allows Centrus to transition the HALEU cascade from a government-funded demonstration to private commercial operation, Power Magazine reported.

The firm, headquartered in Bethesda, Maryland, announced the contract on July 1, according to Power Magazine.

The Hyundai IONIQ 3 is expected to start at around EUR 30,000 (USD 35,000) in Europe and GBP 25,000 in the UK, according to Electrek. Electrek reports Hyundai has not yet announced prices.

The hatchback comes with two battery pack options, according to Electrek: a 42.2 kWh pack and a 61 kWh pack, offering WLTP ranges up to 213 miles and 308 miles respectively.

With DC fast charging, the 42.2 kWh version can recharge from 10% to 80% in around 29 minutes, while the 61 kWh version takes about 30 minutes, per Electrek.

To cut costs, the IONIQ 3 uses a 400V architecture rather than the 800V system in the IONIQ 5 and 9, according to Electrek.

Electrek reports the IONIQ 3 is Hyundai's first vehicle in Europe to feature its next-generation Pleos Connect infotainment system, available with either a 12.9-inch or 14.6-inch center touchscreen.

The car measures 4,155 mm in length, 1,800 mm in width, and 1,505 mm in height, with a 2,680 mm wheelbase, according to Electrek.

The IONIQ 3 is produced at Hyundai's İzmit plant in Turkey, which Electrek says would make importing it costly because of the Trump Administration's tariffs.

India will expand its oil reserves, add storage capacity and widen supply partnerships following price volatility during the Iran war, according to World Oil.

The move comes after state refiners took heavy losses on fuel sales. Oil Minister Hardeep Singh Puri said government-owned refiners lost a combined 747.81 billion rupees (USD 7.8 billion) on diesel, gasoline and LPG in the April-June quarter.

Prime Minister Narendra Modi is set to open a greenfield refinery in Rajasthan on Saturday with capacity of 180,000 barrels a day, World Oil reported. The plant will lift the country's oil imports by a further 150,000 barrels a day.

National refining capacity is projected to climb roughly 20% to 6.2 million barrels a day by 2030, per World Oil.

Puri contrasted that build-out with declining capacity elsewhere. He said the United States has gone 50 years without a greenfield refinery and that Europe is shedding refining capacity.

The planned reserve build follows a sharp reversal in oil prices. World Oil reported that crude has slumped, erasing every gain booked during the conflict, once flows widened through the Strait of Hormuz after an interim U.S.-Iran peace deal.

Two fresh discoveries and one appraisal well offshore Suriname have pushed PETRONAS to eight successful wells in Block 52, with total recoverable resources there now above 1 billion boe, according to World Oil.

At Caiman-1, drillers hit several oil-bearing Cretaceous sandstone intervals, reaching a total depth of 5,065 m in 90 m of water, World Oil reported.

The second well, Swartzia Aspasia Complex-1 (SAC-1), cut through gas-bearing sandstone reservoirs, according to World Oil. Crews drilled it in 610 m of water, roughly 8 km east of the Sloanea-1 gas discovery.

PETRONAS holds an 80% operating stake in the block, with Paradise Oil Company, a Staatsolie subsidiary, holding the other 20%, World Oil reported.

The latest wells extend work that began with the commerciality declaration for the Sloanea gas field in November 2025, according to World Oil. A final investment decision on that development is targeted before the end of 2026.

PETRONAS COO Mohd Jukris Abdul Wahab pointed to the eight successful wells in Suriname and the more than one billion boe unlocked as the measure of the campaign's progress.

Iberdrola is building its first battery energy storage project in the United States, according to Electrek. The Shutler battery project sits in Gilliam County, in north-central Oregon.

The project will come online in 2027 with a power capacity of 41 MW and will store up to 82 MWh of electricity, Electrek reported. That configuration makes it a two-hour battery, able to deliver its full 41 MW output for about two hours before it needs to recharge.

Avangrid, Iberdrola's US subsidiary, already holds around 3,000 MW of generation capacity in the Pacific Northwest, according to Electrek.

Electrek framed the project against a wider push by utilities to add storage and strengthen the grid.

NG Energy began drilling its Magico-2X well on June 26, the second of six planned wells in the Sinú-9 campaign in Colombia, World Oil reported. The well targets the Pre-CDO-San Cayetano formation, where the earlier Hechicero-1X well returned encouraging results.

Magico-2X is designed for a total measured depth of 7,500 ft, with drilling and completion projected at roughly 35 days before the well is tied into the central processing facility, according to World Oil.

Hechicero-1X has proven productive in the same formation, testing at rates as high as 26.4 MMcfgd from the Pre-CDO-San Cayetano interval, World Oil reported. Operator Maurel & Prom Colombia is holding that well to a managed rate near 15 MMcfgd to protect long-term reservoir performance.

Gross output across the Sinú-9 field currently runs at about 17.5 MMcfgd, according to World Oil.

On the financing side, NG Energy confirmed a $15 million installment from Etablissements Maurel & Prom tied to the Sinú-9 transaction, lifting proceeds received under the deal to roughly $135 million.

Unit 2 at the Taipingling nuclear power plant attained a sustained chain reaction for the first time, China General Nuclear (CGN) announced. The 1,116 MWe (net) pressurised water reactor reached criticality for the first time at 00:22 on 25 June, according to World Nuclear News.

The milestone follows the loading of the reactor core. World Nuclear News reported that the first fuel loading involved inserting 177 fuel assemblies and was completed on 3 May.

China's National Nuclear Safety Administration issued a 40-year operating licence for Taipingling 2 on 30 April, according to World Nuclear News.

The first unit at the site is already generating. World Nuclear News reported that Unit 1 attained first criticality on 3 February this year, was connected to the grid on 13 February, and entered commercial operation on 19 April.

Taipingling will eventually have six Hualong One reactors, with total investment exceeding CNY120 billion (USD17 billion), according to World Nuclear News.

CGN said that once all six units are operational, annual generation will exceed 55 billion kilowatt-hours, cutting standard coal use by about 16.65 million tonnes and carbon dioxide emissions by about 50.82 million tonnes each year.

Charging sessions on Rosatom's company-owned network climbed 40 per cent from 21 to 28 June, the operator said, linking the surge to the fuel shortages now hitting Russia.

The network runs more than 290 charging points, according to electrive.

Russia counted roughly 208,000 battery-electric vehicles and plug-in hybrids at the start of April, according to figures from the analytics firm Autostat. Plug-in hybrid sales reached 24,600 units from January through May, up 125 per cent on the same stretch a year earlier.

Rosatom CEO Alexei Lichatschow said he sees no rapid switch to electric vehicles in the near term, though he expects the fuel squeeze might lead some drivers to weigh battery-electric models more seriously for their next purchase.

The UK Secretary of State issued a decision on 2 July 2026 on RWE Renewables UK Solar and Storage Limited's application for the Peartree Hill Solar Farm in the East Riding of Yorkshire.

The Department for Energy Security and Net Zero issued the decision as a Development Consent Order under the Planning Act 2008.

The generating station has a generating capacity of up to 320 MW.

The project includes associated infrastructure such as a battery energy storage system and cabling to connect to a National Grid substation.

Tesla opened US and Puerto Rico orders for the Model Y L, with a Launch Series carrying a sticker of $61,990, according to Electrek. The all-wheel-drive trim runs a 2+2+2 arrangement that seats six.

Tesla puts the Model Y L at 325 miles of EPA-estimated range and a 0-60 mph time of 4.4 seconds, Electrek reported.

The stretched body gains 150 mm (5.9 inches) at the wheelbase, taking it to 3,040 mm, plus about 180 mm (7 inches) in overall length to create space for a third row, per Electrek. Cargo capacity is listed at 89 cubic feet.

Against the rest of the lineup, the $61,990 Launch Series runs roughly $4,000 more than the $57,990 Model Y Performance and about $22,000 more than the $39,990 rear-wheel-drive Model Y, Electrek reported.

The model first went on sale in China in August 2025, where it started near $47,000.

The Kia EV9 opens at $54,900 with a range of up to 304 miles, while the Hyundai Ioniq 9 starts at $58,955 and reaches up to 335 miles, according to Electrek.

Moment Energy opened Megafactory 1 in Vancouver, BC with a ribbon-cutting ceremony on June 23, according to Electrek. The company expects the plant to produce 1 GWh of battery energy storage systems annually by 2030.

Cofounder and CEO Edward Chiang said the project was announced six weeks ago and is now operational. "We announced this project six weeks ago. Today it's operational," Chiang said, according to Electrek.

Moment Energy says the factory will create more than 100 direct jobs and support more than 1,000 indirect jobs across British Columbia.

The Canadian government, through Pacific Economic Development Canada (PacifiCan), invested CA$4.9 million in the company, according to Electrek.

Moment Energy closed a US$40 million Series B funding round earlier this year, bringing total funding to more than US$100 million.

A September close is in view for Sunda Energy's purchase of producing acreage in the Taranaki basin of New Zealand, World Oil reported.

The target is Matahio NZ, which Sunda agreed in April to buy. Its portfolio spans four petroleum mining permits and a single exploration permit across the North Island, per World Oil.

Output from the acreage ran to 1,036 boed over the opening five months of 2026. Sunda puts the full-year figure at roughly 1,052 boed, according to World Oil.

Cash flow from the New Zealand barrels came in ahead of plan, and Sunda has left the second financing tranche for the deal untouched as a result.

Separately, Sunda said it sat down with Timor-Leste's upstream regulator and its state partner TIMOR GAP after a notice signaling intent to terminate the Chuditch production sharing contract, World Oil reported.

Selectively managed logging areas account for 56.8% of net carbon removals across the Congo Basin, according to a Nature Communications study reported by Mongabay.

The basin's rainforests stretch across 3.3 million square kilometers of Central Africa, which Mongabay describes as the planet's largest forested carbon sink.

Almost all of the carbon these forests pull from the atmosphere each year, 98.7%, sits in land under some form of management, the study's model found, per Mongabay. Protected areas take in 41.9% of that annual removal, while logging concessions take in 56.8%.

To reach those figures, the team trained a machine-learning program on land-cover records gathered from 1990 to 2020 across the six forested countries of the Congo Basin, pairing them with aboveground carbon estimates drawn from lidar, Mongabay reported.

Le Bienfaiteur Sagang, a tropical ecologist at the University of California, Los Angeles, led the research, according to Mongabay.

A heat wave gripping the United States this week is adding pressure to an already-strained energy grid, according to Semafor Net Zero. The country's largest grid operator forecast that electricity demand could break records, raising the risk of blackouts.

The US energy department this week ordered data centers to use backup generators to ease strain on the system, Semafor reported.

The head of an energy-focused nonprofit called the situation a "five-alarm fire," citing depleted reservoirs, wildfires, and a spike in energy demand stemming from the artificial intelligence boom.

Europe's grid felt the pain of heat waves last week, according to Semafor, and high temperatures forced several power plants to reduce output.

The U.S. Department of Energy (DOE) invoked emergency powers on July 2, 2026 to shore up the Carolinas grid during hot weather, clearing Duke Energy plants to run harder to head off blackouts.

Under Section 202(c) of the Federal Power Act, the DOE cleared Duke Energy Carolinas and Duke Energy Progress to push named units to peak generation, waiving air quality and other environmental permit caps set under federal, state, or local rules.

Duke Energy had applied for the relief, the DOE said, citing forecasts of unusually high electricity demand and hot weather across the region.

Energy Secretary Chris Wright said reliable and affordable supply across the Duke Energy service territory is "non-negotiable."

The authorization runs from July 2, 2026 and lapses at 10:00 PM EDT on July 6, 2026.

BYD's passenger vehicle exports rose 94.7% year over year in June, according to CleanTechnica.

CleanTechnica reported that BYD's passenger vehicle exports climbed 95% year over year in June.

The growth extended a pattern set the prior month. BYD's passenger vehicle sales outside of China rose 80% year over year in May, according to CleanTechnica.

New South Wales has rebooted its state solar battery rebate and widened it to offer discounts on storage for apartments, small to medium business, and on batteries sized up to 30 megawatt-hours for the commercial and industrial sector, according to RenewEconomy.

The amendments to the Peak Demand Reduction Scheme were signed off by energy minister Penny Sharpe late last month and published on the NSW Climate and Energy Action website, RenewEconomy reported.

RenewEconomy said the changes have the potential to shift behind-the-meter solar and storage contributions to the grid in a state that remains heavily dependent on coal power.

Grid operators across the United States are contending with rising electricity demand from data centers alongside frequent extreme weather events, according to pv magazine.

Those pressures are driving a structural shift in the US energy market, pv magazine reports, with virtual power plants (VPPs) aggregating decentralized generation entering the mainstream.

In Puerto Rico, frequent load shedding has made solar and storage valuable for stepping in when power lines fail, according to pv magazine, providing a real-world test for VPPs.

German engineering company Everllence has launched a research initiative called HydroMonia to adapt engines for hydrogen and ammonia, according to Hydrogen Fuel News.

The project aims to burn green hydrogen and clean ammonia to help balance the grid as renewable sources rise, Hydrogen Fuel News reported. It also targets cutting lifecycle CO2 emissions compared with gas and diesel engines. The stated goal is carbon-free power plants.

South Africa is drawing on its platinum reserves and high-level engagement with China to place platinum group metals (PGMs) at the center of hydrogen fuel cell and green molecule value chains, according to Hydrogen Fuel News.

Deputy President Paul Mashatile recently concluded a mission in China focused on hydrogen energy and fuel cell technologies, according to Hydrogen Fuel News.

Sibanye-Stillwater asserts that its South African platinum assets are among the best in the world, according to Hydrogen Fuel News.

India's Ministry of New and Renewable Energy has launched the Green Hydrogen Certification Portal of India (GHCI) to digitally certify the origin and emissions of green hydrogen, according to Hydrogen Fuel News.

Hydrogen Fuel News reported that the portal is intended to boost domestic decarbonisation and enable compliant exports to global markets.

The GHCI is a digital platform that turns renewable energy into verifiable proof for hydrogen and its derivatives, according to Hydrogen Fuel News.

Winners of ARENA's first community battery grants built only 22 of the 92 community batteries they promised to complete by the end of last year, according to RenewEconomy. The shortfall leaves the government-backed rollout at roughly a quarter of the target set for that deadline.

RenewEconomy reported that a review surveyed 13 proponents behind 284 of the initial community battery projects and uncovered serious delays.

In 2024, ARENA awarded $125 million to 318 community battery projects around the country, according to RenewEconomy.

ARENA is in the process of divvying up a second round of $46 million for community batteries, RenewEconomy reported.

The Australian Energy Regulator (AER) has released proposed Solar Sharer tariffs for electricity network operators in South Australia, New South Wales and Queensland, according to RenewEconomy.

RenewEconomy reports that Victoria also plans to introduce solar sharer tariffs, but through an independent process.

The release coincides with the Australian Energy Market Commission (AEMC) finalising the outcomes of its pricing review, according to RenewEconomy. Most measures proposed by the AEMC will be phased in over time.

Missing or disconnected bypass diodes in solar modules can pass standard factory flash tests and field thermography inspections while creating a hidden fire risk when shading occurs, according to pv magazine, citing Althaus of Intertek CEA.

The blind spot starts at the factory. Flash tests use uniform artificial light that keeps the diodes inactive during production sign-off, so the fault goes undetected, according to pv magazine. The problem carries over to the field. Standard drone or handheld infrared thermography under clear skies shows a uniform thermal profile because no shading is triggering the bypass mechanism, pv magazine reported.

The danger surfaces only under shade. When shading occurs without a functional bypass diode, the obstructed cells must dissipate the full power of the entire unshaded string, according to pv magazine. Althaus said diode failures can pass standard factory and field inspections yet create severe overheating when shading occurs.

Two detection methods can catch the fault. Electroluminescence imaging can identify missing or disconnected junction box circuitry before modules leave the factory or are mounted on racks, according to pv magazine. For installed systems, Intertek CEA recommends shaded thermography, with teams intentionally creating or waiting for localized shading during an infrared scan to force the bypass mechanism to engage, according to pv magazine.

The 250 MVA Ararat Synchronous Condenser has begun operating in the Australian state of Victoria and will allow an additional 600 MW of renewable energy generation to connect to the grid while supporting system stability, according to pv magazine.

The unit weighs approximately 300 tonnes and was delivered by Melbourne-headquartered Australian Energy Operations, pv magazine reported.

The system was supplied by Austrian manufacturer Andritz Hydro, with construction completed by Victorian renewable company Beon Energy Solutions, according to pv magazine.

The project sits 190 kilometres northwest of Melbourne at Elmhurst and is one of 12 being delivered under the Victorian state government's AUD 480 million (USD 332 million) grid investment, pv magazine reported.

The 12 projects will unlock 2.3 GW of clean energy, enough to power 16% of Victoria's annual electricity needs, according to pv magazine.

The Tropical Forest Forever Facility has raised $6.8 billion but must mobilise at least $10 billion by the end of 2026 to unlock Norway's pledge, under conditions Norway set, according to Climate Home News.

If the fund falls short of that goal, Norway's contribution of up to $3 billion in loans over 10 years will not be disbursed, Climate Home News reported.

The TFFF was launched on the sidelines of last November's UN climate summit as a mechanism to raise public and private money, invest it in financial markets, and pay rainforest countries a share of the returns, according to Climate Home News.

Norway, Germany, France, Brazil, Indonesia and Luxembourg have pledged to the fund, but the UK did not follow with a pledge during London Climate Action Week, Climate Home News reported.

The Times reported that energy and climate minister Ed Miliband had been poised to announce a £400-million ($528m) investment pledge to the TFFF but was opposed by UK finance minister Rachel Reeves, according to Climate Home News.

The Congo Basin Forest Action Programme has had its budget slashed by nearly 80% amid UK cuts to foreign aid, Climate Home News reported.

Data centers consume more electricity in the United States than in any other country, including China, according to Canary Media citing this year's Statistical Review of World Energy.

Nearly 40% of all power demand from data centers in 2025 came from facilities based in the United States, according to the Statistical Review of World Energy as reported by Canary Media.

TotalEnergies is marketing millions of barrels of Iraqi crude for prompt delivery to Asian buyers, adding to a market already well supplied, traders told Rigzone.

The company is marketing Basrah Medium and Basrah Heavy grades to refiners, according to Rigzone. It is offering to collect and deliver the shipments to customers in South Korea, Taiwan, and China.

Refiners in Asia outside China received offers for Basrah Medium at a premium of more than USD 1 a barrel to the Dubai benchmark, Rigzone reported.

TotalEnergies has been seeking supertankers capable of carrying two million barrels of crude, traders said, with cargoes available for arrival in July and August or the coming months.

Oil flows through the Strait of Hormuz picked up after an interim peace deal between the US and Iran, giving Asian refiners more than enough options to meet their supply needs, according to Rigzone.

The Green Climate Fund (GCF) will have nearly USD 6 billion more to spend on emissions-reduction and climate adaptation projects in developing countries after its board agreed to reduce the share of money it holds in reserve, according to Climate Home News.

The board backed a management proposal to revise the fund's financial rules so it no longer has to set aside one dollar for every dollar it spends, Climate Home News reported. The change leaves the fund with USD 5.65 billion to deploy into projects, up from around USD 1 billion under the previous rules.

The GCF holds a portfolio of 360 projects to which it has allocated USD 20.5 billion, according to Climate Home News.

GCF chief financial officer Darren Tan said the old rules had led to too much cash building up in the fund's reserves and constrained the resources it could deploy.

Germany's Annette Windmeisser said the reform responds to the COP29 decision to triple outflows from the multilateral climate funds.

The new system has been independently validated and is supported by the GCF's trustee, the World Bank, Climate Home News reported.

The move follows similar reserve adjustments at the World Bank. In 2023 and 2024, the World Bank lowered its equity-to-loans ratio from 20% to 19% and then to 18%, freeing up around USD 7 billion a year to invest, according to Climate Home News.

China issued three mandatory national standards governing energy use and efficiency across its photovoltaic supply chain, spanning polysilicon, silicon wafers, PV modules and inverters, according to pv magazine.

The rules were released on June 27, 2026, and take effect on January 1, 2027, pv magazine reported.

For modules, the standards set minimum Grade 3 efficiency at about 23.2% for TOPCon and heterojunction products and 23.5% for back-contact products, according to pv magazine. On bifaciality, the floors require 75% for TOPCon, 85% for heterojunction and 70% for back-contact modules.

pv magazine reported that the measures come after nearly two years of severe overcapacity and low-price competition running through China's PV manufacturing chain.

Industry analysts cited by pv magazine expect legacy PERC module lines, early TOPCon capacity, high-energy polysilicon plants and older wafer assets to feel the heaviest pressure.

Green Flexibility has released a template contract that aims to standardize the terms utilities and developers agree on when connecting battery energy storage projects to the grid in Germany, according to ESS News. The framework targets the disputes over forecasting and curtailment terms that slow individual connection deals.

The document rests on real operating data. It builds on the developer's 15 MW/33 MWh battery in Immenstadt, Bavaria, and on 15 separate negotiations with grid operators, ESS News reported.

Green Flexibility says the template sets out dynamic power limits, a curtailment model based on full-load hours, and coordinated control of ancillary services.

Allgäu Netz intends to apply the framework next year when connecting further large-scale battery projects across its network area, according to ESS News.

Volker Wiegand, managing director of Allgäu Netz, told Green Flexibility that connection agreements written too broadly or too tightly can stop storage systems from delivering flexibility to the grid. Wiegand said forecasting and operational limits should stay with grid operators, since they hold the network data and carry responsibility for system security.

Brent blend for August delivery settled at USD 73.15 per barrel on June 29, a week-on-week fall of USD 4.75 per barrel, or 6.1%, according to Rigzone.

Standard Chartered Bank Energy Research Head Emily Ashford said oil's softening trend had continued as the return of easy barrels outpaces demand recovery.

Both Brent and West Texas Intermediate (WTI) appear oversold on a Relative Strength Index (RSI) basis, with Brent at 28.89 and WTI at 29.99, according to Rigzone.

The supply picture reflects added output from producers. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman agreed on June 7 to boost production by 188,000 barrels per day in July. OPEC+ is next scheduled to meet on July 5, according to OPEC's website.

The U.S. Treasury issued a 60-day waiver on June 22 on all existing sanctions on the production, delivery, and sale of Iranian crude, valid until August 21, according to Rigzone.

J.P. Morgan analysts said the estimated value of open interest in energy markets decreased by 5%, or USD 36 billion, week on week to USD 722 billion.

Saxo Bank noted Brent was trading near unchanged on the week, having returned to pre-war levels, with support emerging ahead of USD 70.

The Williams Treaties First Nations is committing CAD700 million (USD492 million) to the Darlington New Nuclear Project, a BWRX-300 reactor being developed by Ontario Power Generation, with backing from federal and provincial loan guarantees, World Nuclear News reported.

The money enters as a loan to the equity partnership building and running the plant, financing the first of four small modular reactor (SMR) units planned for the site. That loan converts to equity after all four units reach completion.

GE Vernova Hitachi Nuclear Energy's BWRX-300 is rated at 300 MWe.

Ontario Power Generation cleared a regulatory step ahead of this financing, securing a Licence to Construct the first of four planned BWRX-300s in April 2025.

Construction has since reached the foundation stage. The Basemat module, the base of the reactor building at close to 953 tonnes, was set into an excavated shaft 35 metres underground, according to World Nuclear News.

According to Hydrogen Fuel News, the Hydrogen Adige Valley project in Bolzano South is bringing together local government, SASA and Alperia to produce green hydrogen for fuel cell buses. The project uses on-site electrolysis and a solar PV canopy to generate the hydrogen.

The collaboration is built around three players, Hydrogen Fuel News reported: the government of Autonome Provinz Bozen - Südtirol, regional bus operator SASA AG, and renewable energy provider Alperia AG.

The project aims at zero-emission public transport in South Tyrol, according to Hydrogen Fuel News.

Researchers at CEA-Liten have developed a technology to recover indium from discarded heterojunction (HJT) solar panels, according to pv magazine.

The process leaches the indium tin oxide (ITO) layer using diluted oxalic acid, which pv magazine reports is less hazardous than conventional mineral acids, and recovers indium at 4N purity in a single chemical step.

According to pv magazine, the best conditions were identified as a 0.2 M oxalic acid solution at 70 C for 4 hours, achieving a 97% yield of indium in solution.

The recycling technology was described in a paper published in Solar Energy Materials and Solar Cells.

A consortium led by Robert Gumede acquired Tongaat Hulett from the brink of liquidation earlier in 2026, gaining a sugar producer whose mills and grower networks run through Mozambique, South Africa, and Zimbabwe, according to Semafor Net Zero.

The structuring deal values Tongaat at roughly $1.1 billion, built from legacy debt converted into equity and emergency funding from the South African state-owned IDC that was swapped for shares and working capital, Semafor reported.

Gumede intends to run the business as an energy play alongside sugar. He wants to burn leftover cane stalks and fibre for electricity, capture carbon dioxide from processing for use as medical oxygen or beverage-grade CO2, and distill cane into ethanol for petrol blending, Semafor reported. He said he would press for a national biofuel mandate setting ethanol content at 10% to 15% of every liter of petrol sold in South Africa.

Renamed Vision Sugar, the group aims to lift its grower base from roughly 17,500 to more than 30,000 and to double the roughly 50,000 jobs tied to its value chain, Semafor reported.

Gumede put the operation's landholdings at roughly 140,000 hectares in Zimbabwe and 300,000 hectares in Mozambique, and he projected that those assets and operating cash flow would let Vision recoup its turnaround investment within two to three years.

Import pressure sits behind the rescue. Gumede said Tongaat absorbed a $36 million loss last year as Brazilian imports flooded the market. Industry data recorded over 111,000 tons of imported sugar arriving in South Africa across the first three months of the 2026/27 season, close to half of the whole prior season's volume.

Xpeng has opened pre-orders for its Mona L03 SUV in China, with pre-sale prices starting at 143,800 yuan, equivalent to EUR 18,500, according to electrive. The company will hold the model's launch on July 16 in Munich rather than in China, positioning the Mona L03 as an EV for global markets.

The battery-electric version comes with two battery options, delivering CLTC ranges of 525 and 625 km respectively, electrive reported. An extended-range electric version pairs an onboard range extender for a maximum combined CLTC range of 1,330 km and a pure electric range of 315 km.

The Mona L03 supports 3C fast charging, which allows the battery to charge from 10 to 80 percent in just under 20 minutes, according to the manufacturer. Higher trims carry two Turing AI chips delivering a combined 1,500 TOPS of computing power.

Sales of the Mona saloon have fallen. According to CN EV Post, cumulative deliveries reached 48,291 units in the first five months of 2026, down 33.15% year-on-year.

Xpeng announced last month that Magna Steyr in Graz would produce a fourth Xpeng model, though no model name has been specified, electrive reported.

China will abolish its annual vehicle tax exemption for plug-in hybrids, range-extender vehicles, and several classes of electrified commercial vehicles from January 1, 2027, according to electrive.

The decision to adjust the national vehicle and vessel tax was made by China's Ministry of Finance, the State Taxation Administration, and the Ministry of Industry and Information Technology, electrive reported.

The exemption for the affected vehicle categories has been in place since 2012, according to electrive.

Battery-electric passenger cars will stay tax-exempt because they are not subject to China's displacement-based vehicle tax under Chinese law, electrive reported.

The levy is tied to engine displacement. For passenger cars with an engine displacement between 1.6 and 2.0 litres, the annual vehicle and vessel tax ranges from 360 to 660 yuan per year, depending on the province, according to electrive.

The change comes as the share of so-called new energy vehicles in China's passenger car market recently reached a record high of 62.9%, electrive reported.

Orica has made a final investment decision to proceed with its 50 MW Hunter Valley Hydrogen Hub in New South Wales, according to pv magazine.

The hydrogen will replace gas feedstock in the production of ammonia at Orica's Kooragang Island facility, according to Arena. Arena said the switch reduces emissions from one of Australia's most intensive industrial processes while helping to establish a domestic market for renewable hydrogen.

Under the Hydrogen Headstart program, projects apply for a production credit delivered over ten years to bridge the gap between renewable hydrogen production costs and market prices, according to pv magazine.

Contractor Leonhard Nilsen & Sønner AS took delivery of the first Volvo A30 Electric articulated haul trucks, a 30-ton model, and has begun running them at the Hafslund hydropower project, according to Electrek.

Two of the trucks will start out hauling material for a 20 km tunnel, Electrek reported. The Hafslund development is scheduled for completion in 2029 and is projected to produce more than 100 GWh of renewable electricity a year, according to Electrek.

Each A30 Electric carries a 29 tonne payload and is designed for a full day of work on one charge of its 245 kWh lithium-ion battery, according to Electrek. Power comes from a 350 kW electric motor, routed through a torque-amplifying gear reduction gearbox.

The tunnelling job suits battery machines because blasting cycles create pauses long enough to recharge, said LNS Project Site Manager Steffen Solstrand Ludvigsen. "That makes electric haulers particularly well suited to the work here," he said.

Volvo CE first showed the electric articulated hauler at last year's Bauma construction expo, according to Electrek.

The United States was the world's largest oil producer in 2025, pumping 21.065 million barrels per day, according to the Energy Institute. That output represented a 3.9 percent rise year on year and 20.9 percent of the world's total oil production.

Saudi Arabia ranked second, producing 11.408 million barrels per day, a 5.1 percent increase from the prior year and 11.3 percent of global output, the Energy Institute reported. Russia followed in third place with 10.737 million barrels per day, a 0.2 percent decline year on year and 10.7 percent of the global total.

Total world oil production reached 100.590 million barrels per day in 2025, a 3.5 percent rise from the previous year, according to the Energy Institute.

The United States also led global demand, consuming 19.404 million barrels per day in 2025, or 18.8 percent of global oil consumption, the Energy Institute review showed. That figure marked a 1.3 percent year on year increase.

China was the second largest consumer, using 17.360 million barrels per day, a 2.7 percent rise year on year and 16.8 percent of total consumption, according to the Energy Institute.

Total global oil consumption came in at 103.039 million barrels per day in 2025, a 1.3 percent growth rate, the Energy Institute said.

The Energy Institute said the declining growth rate trend in oil consumption reversed in 2025, with China, the United States, and Western Africa the largest contributors.

India's commercial and industrial (C&I) energy storage installations are projected to exceed 31 GWh by 2032, according to ESS News, citing a report by the India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES).

The same report projects India's C&I renewable energy deployments to grow from 32 GW in 2025 to as much as 100 GW by 2032. ESS News reported that installations across the C&I segment are set to expand rapidly over that period.

Industrial facilities are expected to account for over half of all energy storage system installations in the C&I segment, ESS News reported.

Maharashtra's renewable energy and storage policy mandates energy storage for every new renewable energy project above 100 kW, according to ESS News. The policy also requires distribution companies to procure 10% of their electricity from storage by FY 2035-36.

Storage is becoming a strategic tool for resilience and decarbonization rather than just backup, said Debmalya Sen, president of IESA. Sen said the current momentum will define the sector for the next decade.

The findings coincide with India Energy Storage Week 2026, to be held from July 8 to 10 at Yashobhoomi (IICC), New Delhi, according to ESS News. The event is set to bring together more than 200 exhibitors and over 10,000 industry leaders.

The Trailseeker was Subaru's top-selling EV in June with 953 units, ahead of the Uncharted at 699 and the Solterra at 218, according to Electrek.

Over the first half of 2026, the ranking flips. Electrek reported the Solterra remains in front with 5,137 units sold, followed by the Uncharted at 2,491 and the Trailseeker at 2,436.

Subaru set 2027 Trailseeker prices to start at $39,995, matching the current model, according to Electrek. The smaller 2027 Uncharted EV will start at $35,000, Electrek reported.

The Trailseeker produces a combined 375 hp and can go from 0 to 60 mph in 4.3 seconds, which Electrek said makes it Subaru's quickest production vehicle ever sold in the US.

It uses a 74.7 kWh battery for a range of up to 281 miles, according to Electrek. With DC fast charging up to 150 kW, the model can recharge from 10% to 80% in as little as 28 minutes.

The 2027 Trailseeker will go on sale this fall, Electrek reported.

At least 26% of Kenya's fertilizer supply passes through the Strait of Hormuz, according to Mongabay, leaving the country's food system exposed as conflict in the Middle East disrupts Gulf trade routes.

Mutahi Kagwe, Kenya's Cabinet Secretary for Agriculture, said the country holds adequate fertilizer stocks, including 2 million bags for top-dressing. Kagwe said Kenya has had conversations on sourcing urea from Algeria and fertilizer from Morocco as alternative supply amid the conflict, according to Mongabay.

The disruption has driven up commercial prices. A 50kg bag of diammonium phosphate (DAP) or urea cost $46 in January but rose to about KSh8,000 ($62) in March as Gulf tensions pushed prices higher, according to Mongabay.

Government support for fertilizer has narrowed. In the 2025/2026 financial year Kenya allocated $61 million for the fertilizer subsidy, down from the $77 million budgeted in 2024/2025, Mongabay reported. At the onset of the subsidy program in 2022, Kenya imported fertilizers worth over $418 million, according to World Integrated Trade Solution data cited by Mongabay.

The subsidy program reaches most of the country's farming base. As of November 2025, 7.2 million farmers were registered on KIAMIS, out of roughly 7.5 million smallholder farmers in Kenya, according to Mongabay.

Harris County prosecutors charged Michael David Butler, 44, with manslaughter on July 1 in the June 19 death of 76-year-old Martha Avila in Katy, Texas, according to Electrek.

Prosecutors allege Butler overrode Tesla's Full Self-Driving to accelerate to 73 mph in a residential cul-de-sac, Electrek reported. Investigators say the accelerator pedal was pressed to the floor for about six seconds and the brake was never touched in the final minute before the crash.

Investigators found no mechanical failure, no stuck pedal, and no floor-mat interference, according to Electrek. Medical testing found no seizure, stroke, or heart attack, and no alcohol or drugs.

Prosecutors recovered Google searches from Butler's phone, including "Tesla fsd not aggressive enough 2026" and "Tesla fsd too timid," Electrek reported.

Butler remains in jail on a $150,000 bond, per Electrek. Manslaughter is a second-degree felony in Texas, carrying two to 20 years.

Avila's family has sued Tesla, citing a Florida verdict in which a jury assigned 67% of the blame to the driver and found Tesla 33% responsible in a $243 million judgment, according to Electrek.

Warsaw-based small modular reactor developer SGE has unveiled plans to deploy 14 GE Vernova Hitachi Nuclear Energy BWRX-300 units across three UK sites, according to Power Magazine.

The plan was announced by SGE on July 2, Power Magazine reported.

According to Power Magazine, SGE says the 4.2-GW privately financed fleet could ultimately meet roughly 11% of UK power demand.

Saudi Power Procurement Co. prequalified 27 developers and technology providers for the second group of battery energy storage system (BESS) projects, according to ESS News.

The total capacity across the round, labeled Group 2, reaches 12,000 MWh, ESS News reported.

The qualified list includes Masdar, ACWA Power, EDF, and TotalEnergies Renewables, alongside Marubeni, Sumitomo, and Tesla Motors Netherlands, according to ESS News.

An earlier procurement round, labeled Group 1, prequalified 33 companies, ESS News reported. No award or financial close for that tender round has been publicly disclosed.

Tesla has drawn a Robotaxi service area over a narrow section of the Miami metro, releasing a geofence that reaches only West Miami and a corridor running toward Doral and Sweetwater, according to Electrek.

The map names Miami among five US cities Tesla is targeting for the first half of 2026, joining Phoenix, Orlando, Tampa, and Las Vegas, Electrek reported.

Tesla is mapping Miami while its only live market stays small. City officials put the Austin Robotaxi fleet at roughly 50 vehicles a year after the June 2025 launch, according to Electrek.

Recent figures cited by Electrek show the unsupervised fleet has slid from a peak of about 25 cumulative vehicles toward roughly 14 active cars.

On Tesla's Q1 2026 earnings call, Musk told investors that safety validation is the limiting factor for Robotaxi expansion, and that the company is waiting for improvements in a rewritten FSD v15, Electrek reported.

Tesla has filed multiple crash reports to NHTSA in Austin, and independent analysis cited by Electrek found a crash rate roughly four times worse than the average human driver.

Railroad Commission of Texas Commissioner Wayne Christian has directed the Delivering Oil and Gas Efficiently (DOGE) Task Force to further enhance the commission's operational efficiency, according to Rigzone.

The DOGE initiative aims to streamline internal processes, strengthen communication, and bolster the commission's responsive, pro-business approach, Rigzone reported.

The commission said the effort is not about cutting personnel, emphasizing instead that it targets delays, confusion, and outdated systems, according to Rigzone.

Christian was elected as the commission's 50th commissioner in November 2016, per Rigzone.

Transocean reached a conditional agreement with Equinor to supply three harsh-environment Cat D semisubmersible rigs for work on the Norwegian continental shelf, according to Offshore Magazine.

Under the Letter of Intent, the combined value to Transocean exceeds USD 1 billion over seven rig years, excluding additional services, Offshore Magazine reported. Day rates should exceed USD 400,000 per day on commencement, according to the same report.

Equinor said the arrangement would help cut well costs, speed up the drilling of new wells and allow it to maintain high production levels through 2035.

Rune Nedregaard, Senior Vice President for Wells, said Equinor's ambition for the Norwegian continental shelf is production of 1.3 MMboe in 2035. Around 70% of that production will come from new wells, according to Offshore Magazine.

The European Commission has launched a funding call targeting green hydrogen, electrolyzers and CO2 networks, according to Hydrogen Fuel News.

The call for proposals is managed by the Commission and focuses on ramping up green hydrogen production, boosting electrolyzer manufacturing, and building networks to capture and transport CO2, Hydrogen Fuel News reported.

According to Hydrogen Fuel News, the initiative aims to attract both public and private investment as the EU seeks to decarbonize heavy industry, enhance energy security, and drive economic growth.

Germany's National Hydrogen Council has updated its demand forecast, projecting hydrogen demand of 275 to 555 TWh by the late 2040s, according to Hydrogen Fuel News.

The Council pushed the hydrogen market ramp-up to the early 2030s, citing geopolitical and policy uncertainties, Hydrogen Fuel News reported.

The Council identifies steel, chemicals, power, heating, and transport as key demand sectors, according to Hydrogen Fuel News. It calls for targeted support and streamlined permitting.

Volkswagen's next electric SUV, the ID. Tiguan, will make its debut by the end of 2026 and will replace the ID.4 at the company's plant in Emden, Germany, according to Automotive News.

Volkswagen announced in April that it would end production of the ID.4 at its Chattanooga, Tennessee plant, according to Electrek. The company said it had enough supply of current ID.4 models to support customer demand into 2027, when the next electric SUV is set to go on sale.

The ID. Tiguan will be built on Volkswagen's new MEB+ platform, the same architecture that underpins the ID. Polo and ID.3 Neo, Electrek reported.

On range, the current ID.4 runs an 82 kWh battery, according to Electrek. The rear-wheel-drive version carries an EPA-estimated range of up to 291 miles, while the all-wheel-drive model drops to around 263 miles. Under WLTP conditions, the 2026 ID.4 is rated at up to 351 miles, or 566 km, Electrek reported.

Volkswagen reintroduced physical buttons for climate control and other functions in response to driver feedback, according to Electrek. The controls sit below the center navigation screen and on the steering wheel.