Fuel News

“[The port] was held up for five years, and it was stonewalled. Bureaucrats got in the way, and now we are moving forward with that," DOT Secretary Sean Duffy told reporters Feb. 14.

“We have more energy than any other country and now we are unleashing it,” President Donald Trump said as he signed executive orders in the Oval Office on Feb. 14.

Steel giant ArcelorMittal is investing $1.2 billion to build an Alabama mill slated to produce advanced steel by 2027 for hybrid and electric vehicle motors to feed into the U.S. supply chain.

Chevron Corp. plans to cut its global workforce by 15% to 20% by next year, as part of efforts to reduce costs at the U.S. oil major.

Canada has granted C$25 million to the Halifax Port Authority for sustainable environmental infrastructure and establish a hydrogen production facility.

It’s now unclear whether Ohio will build any more of the federally funded charging stations, as President Donald Trump’s team has directed all states to halt new spending of the money.

Among the options being floated if the Trump administration moves to strike EV incentives is a three-year wind down to allow more time for the companies to adjust their businesses.

Elliott Investment Management has built a more than $2.5 billion stake in oil refiner Phillips 66, and plans to push the company to sell or spin off its midstream business, Bloomberg reports.

The national average price for a gallon of diesel posted its second straight increase of less than a penny, according to U.S. Energy Information Administration data released Feb. 10.

Sweden’s state-owned pension investors, collectively known as the AP Funds, have fully written down their entire investment in bankrupt battery maker Northvolt AB.