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The Department of Energy (DOE) has granted the second phase of Port Arthur LNG, a Sempra project in Texas, a permit to export liquefied natural gas (LNG) to countries with no free trade agreement (FTA) with the United States. “This is the first final LNG export approval under President Trump’s leadership and marks another step in restoring regular order to LNG export permitting – reversing the previous administration’s pause and delivering on the President’s pledge to unleash American energy”, the DOE said in an online statement. Port Arthur LNG phase 2, which will consist of trains 3 and 4, is…

State-owned Oil and Natural Gas Corporation’s (ONGC) earnings are likely to remain resilient in the current fiscal as income from its refining and marketing operations will rise enough to offset a decline in upstream profitability following a recent fall in oil prices, S&P Global Ratings said Monday.ONGC, it said, is likely to generate enough free cash flow to consolidate its balance sheet and support the rating, but headroom for the ‘bbb+’ stand-alone credit profile (SACP) remains thin, given recent acquisitions.”We project ONGC’s adjusted EBITDA will be broadly stable at Rs 1-1.05 lakh crore in fiscal 2026, assuming Brent oil prices…

Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. getty The Biden years saw the sharpest increase in U.S. investment in clean energy and clean transportation in the country’s history, creating the potential for sizable future progress toward reducing climate-warming emissions and creating tens of thousands of new jobs in the process. The good news is that 2025’s first quarter saw solid growth in that space, up 6.9% from a year ago to $67.3 billion, according to data compiled by the Rhodium Group and MIT’s Center for…

EOG Resources, Inc. said it has entered into a definitive agreement to acquire Encino Acquisition Partners (EAP) from the Canada Pension Plan Investment Board (CPP) and Encino Energy for $5.6 billion, inclusive of EAP’s net debt. EOG expects to fund the acquisition through $3.5 billion of debt and $2.1 billion of cash on hand, the company said in a news release. The transaction is expected to close in the second half, subject to clearance under the Hart-Scott-Rodino Act and other customary closing conditions, EOG said. The acquisition of Encino’s 675,000 net core acres increases EOG’s Utica position to a combined…

The OPEC logo is displayed on a mobile phone screen in front of a computer screen displaying OPEC icons in Ankara, Turkey, on June 25, 2024.Anadolu | Anadolu | Getty ImagesU.S. crude oil futures rose about 4% on Monday after OPEC+ increased production at a steady rate, easing investor fears that the group might boost output even faster.West Texas Intermediate futures rose $2.53, or 4.16%, to $63.32 per barrel. Global benchmark Brent was up $2.34, or 3.73%, at $65.12 per barrel.The eight producers in OPEC+, led by Saudi Arabia, agreed to increase production by 411,000 barrels per day in July,…

In a research note sent to Rigzone late Thursday by Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan, analysts at the company, including Kaneva, asked if oil prices are “$10 too low or $20 too high”. The analysts highlighted in the note that, during the company’s two weeks of marketing in Europe and Asia, J.P. Morgan “encountered both perspectives”. “Some clients believe that current oil prices are $10 too low, while others argue they are $20 too high,” the analysts said. The J.P. Morgan analysts outlined “the bullish argument” and “bear…reasons” in the note.  “Incoming hard data on…

This story first appeared in the May 2025 issue of Logistics Management as part of a broader roundtable on AI, automation, and supply chain innovation. In this excerpt, industry experts explain how AI is reshaping transportation management systems (TMS), driving smarter routing, predictive insights, and faster decision-making across supply chains. What’s RelatedLM: From your vantage point, how would you characterize the current state of transportation management for shippers in 2025? Brock Johns: There’s no shortage of challenges and potential problems for logistics professionals in 2025. I think we can all agree on that. And, as always, it’s difficult to predict what the next…

Clarios, the world’s largest maker and recycler of low-voltage batteries, plans to invest up to $1 billion in a new critical minerals processing and recovery plant in the United States. The company is considering potential sites in Indiana, Texas, and Utah. What’s RelatedThe project is being driven by recent executive orders and new federal tax credits for advanced manufacturing. It’s a key part of Clarios’ effort to strengthen the U.S. supply of critical minerals, which are vital for national security. These minerals, including antimony, are used in making ammunition, night vision goggles, infrared sensors, and other defense equipment. “We’re excited…

One day after a three-judge panel at the U.S. Court of International Trade (CIT) ruled that President Trump had misused the International Emergency Economic Powers Act (IEEPA) of 1997, in steps he took to implement tariffs on various consumer and industrial products, including the 10% global tariff on U.S. trading partners, 25% tariffs placed on Canada and Mexico, 30% tariffs on China related to fentanyl and border crisis concerns, the elimination of the de minimis exemption on imports from China and called for a permanent halt of the majority of tariffs and also ruling against future modifications against them, the…

Oil prices climbed on Monday morning despite expectations that OPEC+ will continue to boost production in the coming months.Morgan Stanley commodity analysts expect OPEC+ to make three new monthly boosts to its output, returning all 2.2 million bpd it agreed to remove from the market in 2022, by October.This will keep oil prices lower, the bank noted, writing that “With this latest announcement, there is little sign that the pace of quota increases is slowing down,” as quoted by Bloomberg.“Higher quota will likely create room for increased production in Saudi Arabia, and to an extent in Kuwait and Algeria. However,…