WASHINGTON—The Department of Energy (DOE) today announced new emergency actions to provide urgent and immediate assistance to the American citizens of Puerto Rico and strengthen the island’s failing power system. Just one month after Puerto Rico’s most recent island-wide blackout, U.S. Secretary of Energy Chris Wright is issuing two emergency orders authorized by the Federal Power Act Section 202(c) to address critical grid security issues and improve grid resiliency. These orders, issued by the Office of Cybersecurity, Energy Security, and Emergency Response (CESER), in accordance with President Trump’s Executive Order: Declaring a National Energy Emergency, will unlock emergency protocols and empower Puerto Rico’s government to address immediate problems plaguing the already fragile grid system and prevent further widespread outages ahead of peak summer demand season.  In addition to issuing the emergency orders, DOE’s Grid Deployment Office (GDO) will review the $365 million in funding from the Puerto Rico Energy Resilience Fund (PR-ERF) to ensure all DOE assistance is used to support practical fixes to the grid and benefits all residents of Puerto Rico.   “Access to energy is essential for all modern life, yet the current energy emergency jeopardizes Puerto Ricans’ access to basic necessities. This system is unsustainable, and our fellow citizens should not be forced to suffer the constant instability and dangerous consequences of an unreliable power grid,” said U.S. Secretary of Energy Chris Wright. “With President Trump’s leadership, we are prioritizing immediate and comprehensive actions that will mitigate the greatest threats to the grid and benefit a vastly larger portion of the population, including critical facilities like hospitals and community centers.”   “I thank President Trump and Secretary Wright for their leadership and commitment to address once and for all Puerto Rico’s energy emergency. This Administration clearly understands the urgency of the crisis and is utilizing available, existing emergency

Oil rose after Iran’s foreign minister downplayed prospects for a breakthrough in nuclear talks with the US, saying no formal proposal had been received. Brent advanced more than 1% to settle above $65, while West Texas Intermediate climbed to top $62. “Iran has not received any written proposal from the United States, whether directly or indirectly,” Foreign Minister Abbas Araghchi said in a post on X. “In the meantime, the messaging we — and the world — continue to receive is confusing and contradictory.” Prices had slumped Thursday when US President Donald Trump suggested the two sides were closer to a deal, which could pave the way for some extra supply from Iran. But those barrels would have a limited effect on a market already bracing for a surplus. “Much of the trading action feels reactionary, with geopolitical headlines swinging crude up or down by a few dollars,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “Positioning ahead of the weekend is also likely contributing to today’s move, as traders reduce risk in the face of ongoing uncertainty.” The International Energy Agency on Thursday reiterated that it expects an increase in new production worldwide to exceed demand growth this year and next, creating a global glut. The excess supply may be even bigger if the Organization of the Petroleum Exporting Countries and its partners confirm further output hikes. “We wouldn’t overstate the impact on Iranian supply here — a deal might add 200,000 to 300,000 barrels a day to Iranian exports, which isn’t enormous,” said Robert Rennie, head of commodity and carbon research at Westpac Banking Corp. “We maintain the view that Brent should remain in a $60 to $65 holding pattern in the weeks ahead.” Oil also climbed on reports that Israel struck Houthi-held areas

Egypt is looking to buy liquefied natural gas through the end of the decade, a move to meet surging summer power demand and supplant flagging domestic production. The government is in discussions with LNG suppliers for contracts that last through 2028 to 2030, according to people with direct knowledge of the matter, who asked not to be identified because the talks are private. The move is also intended to reduce reliance on the volatile spot market, the people said. The contracts will include a flexibility clause, in case gas needs are revised over the coming years, two of the people said. The government will secure the rest of the LNG cargoes it might need via purchase tenders, they added. Egypt, once an LNG exporter, has turned to purchasing the fuel as a booming population and rising temperatures boost demand even as its domestic fields age. The government’s move to try to secure supply for years indicates it is becoming a major demand center, helping to tighten global gas markets. Egypt’s oil ministry didn’t immediately respond to a request for comment. The country has already made plans to add several floating units to import the fuel and is in talks with Qatar over long-term gas supply contracts. Egyptian LNG exports have been steadily declining since they hit a peak of 7.7 million tons a year in 2022, according to shipping data compiled by Bloomberg. The country imported about 2.5 million tons last year. The energy deficit in the Middle East’s most populous nation more than doubled last year to $11.3 billion, according to Goldman Sachs Group Inc. The shortfall raised Egypt’s current account deficit last year to 6.2% of gross domestic product from 3.2%. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of

Aberdeen’s Rovtech Solutions has unveiled a new, remotely operated vehicle (ROV) which it claims is a first in digital-class subsea robotics. The firm, which was acquired by venture studio Ventex in September, said the latest model of its Valor ROV has been built for a “new era” of subsea operations including offshore wind. Ventex subsequently acquired the Valor – for “versatile and lightweight observation ROV” – platform in January from Seatronics, which it said offered capabilities at a “far lower weight and cost” compared to rivals. The firm said the new unit brings “the most technology ever loaded onto an ROV”. © Supplied by Rovtech/True NorthRovtech chief executive John Polson Rovtech CEO John Polson, 30, said: “We are surrounded by, and dependent on, high-bandwidth comms, software, and connected automated systems. Life is safer, more efficient and more comfortable because of it. But underwater, progress has barely moved since the 1990s. Until now.” The firm said ROVs have traditionally struggled to handle increasing volumes of data produced by the widening range of cheaper, smaller sensors creating a “bandwidth bottleneck”. © Supplied by VentexVALOR ROV Rovtech said its “breakthrough” platform enables high-bandwidth data transmission in real time, allowing for AI-powered analytics, remote monitoring and intelligent decision-making at the seabed; all at the same time and without any workarounds. Polson added: “ROVs haven’t evolved fast enough. Observation-class vehicles simply weren’t built for the bandwidth demands of today’s digital subsea world. “Until now, boosting bandwidth meant making vehicles bigger, heavier and more expensive. But Valor breaks that pattern. It’s in a class of its own – it is the first digital class ROV.” He added: “We don’t know what tomorrow’s subsea demands will look like. But we do know this – Valor is the only ROV that’s going to keep up.” Formerly based in Cumbria,

Steph Crawford has been appointed as vice-president of marketing, communications and operations at Aberdeen’s Wood. Crawford has worked at Wood since 2023, having started as marketing and communications manager before moving up to her most recent position, senior marketing and communications manager in August 2024. Wood has been subject to a takeover effort from Sidara, with the Middle Eastern company making a 35p per share offer, valuing the company at £240 million. The group has extended the deadline to make a decision on the bid multiple times. With uncertainty looming about the future of the business, shares in the company cannot be traded due to delays in Wood publishing its financial results. © Supplied by EnerMechEnerMech chief operating officer Tony McAnulty. Tony McAnulty has been appointed as Aberdeen-based EnerMech’s chief operating officer, a new role within the business with a focus on driving market share, operational efficiency and customer satisfaction. McAnulty, who has most recently served as EnerMech’s regional director for Australia and New Zealand, is relocating to Aberdeen to take up the position, which begins immediately. He will oversee the daily operations of the company and is tasked with cultivating a culture of high performance and continuous improvement. EnerMech CEO Charles ‘Chuck’ Davison Jr said: “In order to maintain our industry-leading position, we must be agile and forward-thinking as an organisation. The appointment of Tony will be instrumental in strengthening our global profile and positioning EnerMech for continued success. “With Tony at the helm of operations and a strong leadership team supporting him, I have no doubt that EnerMech will thrive in an increasingly competitive landscape.” McAnulty joined EnerMech in 2022 when it acquired Stork Australia and New Zealand, having previously spent 27-years at the Dutch-headquartered firm, where he held various senior leadership positions across the globe. He added:

Pillips 66 has entered into a definitive deal to divest a 65 percent interest in its Germany-Austria retail business to a consortium of investment firms Energy Equation Partners and Stonepeak Partners LP. JET Tankstellen Deutschland GmbH operates 970 sites including 843 that are JET-branded, according to Phillips 66. “Phillips 66 will retain a non-operated 35 percent interest in the business through a newly formed joint venture”, the Houston, Texas-based refiner said in an online statement. “This transaction advances our strategy to optimize our portfolio and enhances long-term shareholder value”, said Phillips 66 chair and chief executive Mark Lashier. “The newly formed joint venture allows us to monetize this non-core asset while retaining the ability to benefit from its future growth”. Phillips 66 expects about EUR 1.5 billion ($1.68 billion) on pre-tax proceeds after customary price adjustments. “The transaction values the Germany and Austria retail marketing business at an enterprise value of approximately EUR 2.5 billion (approximately $2.8 billion), representing an implied Enterprise Value/EBITDA multiple of 9.1x based on expected 2025 EBITDA”, the company said. “The proceeds will be used to support the company’s strategic priorities, including debt reduction and shareholder returns”, it added. Phillips 66 said it would enter into a multi-year agreement to continue supplying the retailer through the Mineraloelraffinerie Oberrhein refinery in Karlsruhe, Germany, in which it owns an 18.75 percent stake. In a separate statement, Stonepeak and Energy Equation noted, “JET is one of the largest fuel retailers in Germany and Austria, serving more than 700,000 customers daily with quality products at fair prices through a network of 970 service stations. Located primarily in urban and high-traffic areas, JET also operates convenience stores, car washes and a rapidly growing EV charging network”. “Together with the outstanding JET team and its dedicated service station operators, we aim to strengthen