Fuel

Chevron Corp. agreed to buy oil and gas producer PDC Energy Inc. in a $6.3 billion all-stock deal as it seeks to expand amid what may be a busy year of mergers and acquisitions in U.S. shale.

Ford Motor Co. reached a series of deals to buy lithium from projects in Canada to Chile, as automakers rush to secure the materials needed to build electric vehicles.

The Biden administration has dropped, for now, a plan that would have awarded automakers such as Tesla Inc. credits for using renewable natural gas to power electric vehicles.

The U.S. and Canada announced the creation of the Binational Electric Vehicle Corridor, an 872-mile route that will stretch from Kalamazoo, Mich., to Quebec City, Quebec, and feature fast chargers every 50 miles. 

Whether battery-swapping becomes a more mainstream alternative to charging in the U.S. depends, in part, on more automakers working with companies like Ample.

Alabama has taken steps toward building the state’s first renewable diesel production facility in Mobile using soybean oil from state farmers to make low-carbon fuel.

Advocates for Ford’s $3.5 billion electric vehicle lithium-ion battery plant in Marshall, Mich., say the 2,500 jobs it promises are much needed for the city of less than 7,000.

Tesla Inc. CEO Elon Musk said the electric carmaker will dabble in advertisements, a major shift for the company that has largely avoided traditional marketing.

The U.S. is soliciting bids for up to 3 million barrels of sour crude oil to refill its depleted Strategic Petroleum Reserve in August.

Diesel prices dipped 2.5 cents on average to drop below $3.90 a gallon, according to Energy Information Administration data released May 15.