Shipowners and oil traders are staying away from Russia-backed Nayara Energy Ltd. as part of the fallout faced by the Indian refiner, after it was singled out in the latest round of European Union sanctions. At least one oil tanker, the Talara, u-turned and sailed away from Vadinar port on Sunday, according to Bloomberg ship-tracking data. The vessel was meant to pick up a cargo of fuel – likely diesel – from Nayara, shipbrokers said. The booking was cancelled following Friday’s sanction, they said, and the cargo was not loaded.  Another tanker, the Chang Hang Xing Yun, that was on its way to Vadinar this week, halted off the southwestern coast of India, ballasting, ship-tracking data and chartering fixtures show. The ship is now heading to the Arabian Gulf to pick up cargoes bound for southern Africa, after its previous plans to load products from Vadinar were cancelled yesterday, shipbrokers said. Shipbrokers added owners have become wary of dealings with Nayara this week, be it fuel exports or crude imports. Rosneft PJSC holds a 49.13 percent stake in the Indian processor.  Global oil market observers are waiting to see if the hesitation among shipowners will spread beyond logistics to trading counterparties and even financiers. Indian refiners have been seeking more clarity from the EU in the past days on a variety of matters including Nayara’s blacklist and a ban on the diesel supplies made from Russian crude.  Owners from Greece to Norway control a significant portion of the world’s shipping fleet, with companies likely to adhere to EU restrictions to some extent. Since the Ukraine war in 2022, however, Greek owners have played a crucial role in the Russian oil trade, particularly when barrels were below the price cap.  Talara’s diversion adds to the concerns surrounding Nayara, after it sought advance payment or

Motor racing, a sport known for flashy, petrol-guzzling racecars speeding at hundreds of kilometers per hour across twisting asphalt tracks, hasn’t been a pastime known for sustainability. Formula 1 is trying to change that.  Often referred to as “the pinnacle of motorsport,” the racecar organization, which hosts an annual championship featuring the best drivers in the world, has seen its carbon emissions drop 26% since 2018. At the end of the 2024 season, the sport’s carbon footprint fell to 168,720 tonnes of carbon dioxide equivalent from 228,793. F1 said in a statement on Wednesday that it’s halfway toward achieving its minimum 50% reduction target, as set out in its “net zero by 2030” commitment.  “It’s a key milestone and the culmination of a lot of work,” said Ellen Jones, head of environmental, social and governance at F1, in an interview. “We’ve changed the way we operate, changed the way we work” with the racing teams and promoters, as well Formula 1’s management and regulator, she said. A major factor in the reductions has been a years-long shift to renewable energy, Jones said. Investment in sustainable aviation fuel for travel and freight use, and other alternative energy sources, including solar and biofuels, contributed to the decline. Next year, F1 has set a target for the cars to have new hybrid engines and be powered entirely by advanced sustainable fuel. “We’re not only changing what we’re doing materially, we’re also changing the technologies,” Jones said. The sport has achieved carbon reductions across the four major categories that it tracks: factories and facilities, down 59% since 2018; logistics, down 9%; event operations, down 12% on a per-race basis; and travel, down 25%.  An increase in using remote operations and changes to the race schedule also have resulted in lower greenhouse gas emissions. Having remote broadcast operations has allowed about 140 personnel to avoid having to travel to the race location each

Electric utilities will invest more than $1.1T by 2030 to meet demand growth: EEI | Utility Dive Skip to main content An article from The electric utility sector’s capital expenditures “are higher than any other sector in the U.S. economy,” Edison Electric Institute President and CEO Drew Maloney said. Published July 23, 2025 A composite wind blade. U.S. electric utilities brought 52 GW of total new generating capacity online in 2024, 11% more than in 2023 and 48% more than in 2022, according to a July 23, 2025, report from the Edison Electric Institute. Scott Olson via Getty Images Investor-owned U.S. electric utilities will invest more than $1.1 trillion in the 2025-2029 period, marking a rapid increase in capital expenditures as the sector rushes to meet growing power demand, according to a Wednesday report from the Edison Electric Institute. Capital expenditures from 2015 to 2024 totaled $1.3 trillion, the trade group noted. Permission granted by Edison Electric Institute The electric utility sector’s capital expenditures “are higher than any other sector in the U.S. economy, outpacing transportation, retail, and other capital-intensive industries,” EEI President and CEO Drew Maloney said in a statement.  “As demand for electricity continues to grow, we remain committed to making the investments needed to strengthen America’s energy security while ensuring that our customers receive reliable, affordable energy.”  Much of the investment is going to meet rising demand from data centers. While predictions for AI-related load growth vary, EEI’s financial review cited a McKinsey study predicting data center demand will rise about 20% annually from 2023 to 2030, from 60 GW today to 170-220 GW. Depending on factors, demand could even reach 300 GW, the McKinsey analysis said. But not all proposed data centers will ultimately be built, experts agree. A Schneider Electric 2030 AI power demand estimate put scenario ranges

The Federal Energy Regulatory Commission on Monday approved fast-track interconnection processes proposed by the Midcontinent Independent System Operator and the Southwest Power Pool. The two temporary processes, which are similar, aim to bring power supplies online quickly to meet near-term grid needs. In SPP, utilities and other “load responsible entities,” or LREs, will select potential projects for fast-track interconnection reviews. State utility commissions or other “relevant electric retail regulatory authorities,” or RERRA, would vet potential projects for being considered in MISO’s review process. Generally, state utility regulators supported the proposals. They were opposed by renewable energy companies and public interest groups which argued, in part, that they violated FERC’s principle of providing nondiscriminatory access to the grid. In its decisions on MISO’s Expedited Resource Addition Study process and SPP’s Expedited Resource Adequacy Study process, FERC rejected arguments that the plans violated the agency’s open access principles and that they discriminated against certain types of resources. FERC said, for example, that SPP’s proposal was resource, ownership and technology neutral, and applied the same eligibility criteria across all potential interconnection requests. “In this way, we find that SPP’s proposal ensures that all interconnection customers will have comparable ability to seek to participate in the ERAS process,” FERC said. The approved processes will allow planned resources that meet eligibility criteria to sidestep MISO’s and SPP’s standard interconnection queue reviews. Gas-fired power plants will likely be the main beneficiary of the fast-track processes, with standalone batteries also potentially being included in the fast-track reviews, according to ClearView Energy Partners. However, depending on the energy policy preferences of utility regulators and LREs, the fast-track processes could result in the selection of some renewable resources, particularly projects with onsite battery storage. ClearView, a research firm, said Tuesday. In May, the PJM Interconnection selected about 11.8 GW

Anna Shpitsberg is principal of WattsNext Advisory and former chief climate officer at the Development Finance Corporation. Previously, she served as deputy assistant secretary of energy transformation at the U.S. Department of State. On July 4th, the budget reconciliation bill was signed into law, reversing course on a historic expansion of energy and manufacturing production in the U.S. The consequences won’t just impact corporations — every consumer will feel the sting. The impact will ripple through the economy. Developers, in particular, need to move from concern to action, expediting their procurement processes and locking in key milestones to qualify for expiring credits. The pressure mounted not only with the bill’s passage, but with the July 7th executive order “Ending Market Distorting Subsidies for Unreliable Foreign Controlled Energy Sources.” The order instructs the Department of the Treasury and the Internal Revenue Service to issue tighter guidance on safe harbor provisions by Aug. 18, adding uncertainty to what qualifies as the “start of construction” and thereby eligible for clean energy tax credits. The reconciliation bill and executive order: accelerate credit phaseouts of technologies driving today’s growth in power capacity, with no exclusions for delays beyond control; impose new conditions on foreign ownership, without accounting for supply chain integration; and constrain credits for clean energy component manufacturing that spurred industrialization and job creation. The combined impact is a recipe for economic drag and reverse growth, impacting jobs, electricity prices, investment and power supply. The estimates are sobering. Energy Innovation projects 760,000 job losses by 2030, while a revised Center for Climate and Energy Solutions analysis projects over 2 million jobs could be lost over 10 years, with a $419 billion hit to GDP. This doesn’t stop at the paycheck — it spills over to expenses. According to several studies, including the American Clean

Baker Hughes Co. on Tuesday reported $623 million in adjusted net income for the second quarter, up 22 percent quarter-on-quarter and 10 percent year-on-year thanks to improved productivity. Its adjusted earnings per share of $0.63, assuming dilution, beat the Zacks Consensus Estimate of $0.55. Baker Hughes declared a dividend of $0.23 per share for Q2 2025. Before adjustment for nonrecurring items, net profit came at $701 million, up 74 percent compared to the prior three-month period and 21 percent against Q2 2024. Revenue rose eight percent sequentially but fell three percent year-on-year to $6.91 billion. The year-on-year decline was due to lower revenue from the oilfield services and equipment (OFSE) segment ($3.62 billion), partially offset by a higher contribution from the industrial and energy technology (IET) segment ($3.29 billion). OFSE revenue from North America and Latin America totaled $928 million and $639 million respectively, while $653 million came from Europe, Sub-Saharan Africa and the CIS region. All three geographical divisions saw sequential increases but year-over-year declines. OFSE revenue from the Middle East and Asia dropped both quarter-on-quarter and year-on-year to $1.4 billion. OFSE orders in Q2 2025 totaled $3.5 billion, up seven percent quarter-on-quarter but down 14 percent year-on-year. IET orders totaled $3.53 billion, up 11 percent quarter-on-quarter and two percent year-on-year. Gas technology services had the highest contribution at $986 million, followed by climate tech solutions at $923 million. “The company continued to support the development of critical data center projects, with year-to-date data center awards of more than $650 million”, making up for the absence of large awards from liquefied natural gas projects, Baker Hughes said. Operating activities logged $510 million in cash flow, down 28 percent quarter-on-quarter but up 47 percent year-on-year. Free cash flow was $239 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA)