The SEC ranked No. 1 on the roster of largest unsecured creditors when Nikola, a failed maker of EV trucks, sought court protection on Feb. 19, with the regulator owed about $80 million.
February 20, 2025Government, Business, Technology, Equipment, Fuel
Nikola’s Collapse Puts SEC’s $80 Million Claim at Risk
Business, Technology, Equipment, Fuel, Private
Curtain Falls on Hydrogen Truck Maker Hyzon
Hydrogen fuel cell electric truck manufacturer Hyzon closed its doors Feb. 18, according to an executive, almost exactly four years after promising to produce 40,000 trucks in 2025.
February 19, 2025Business, Fuel
Elliott Seeks Phillips 66 Board Seats as It Urges Asset Sale
Elliott Investment Management is seeking seats on the board of oil refiner Phillips 66, the latest effort in a campaign pushing the company to sell assets and improve performance.
February 19, 2025Business, Technology, Equipment, Fuel
Nikola Declares Bankruptcy, Will Sell Off Assets
The company said it plans to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code. A stalking horse bidder will be sought.
February 19, 2025Government, Fuel
Diesel Price Bumps Up 1.2¢ to $3.677 a Gallon
The national average diesel price crept up 1.2 cents to $3.677 a gallon, according to U.S. Energy Information Administration data Feb. 18.
February 18, 2025Business, Fuel
BP Weighs $10 Billion Sale of Castrol Lubricants Unit
A sale of the business is one of the many options BP is considering to win back investor confidence after years of underperformance, sources said.
February 18, 2025Business, Fuel
Brazil to Join OPEC+
Brazil’s government on Feb. 18 approved joining OPEC+, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit.
February 18, 2025Government, Business, Fuel, Logistics
Duffy Says Texas GulfLink Oil Port Will Move Forward
“[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.
February 14, 2025Government, Business, Fuel
Trump’s Energy Council Looks to Fast-Track Oil Projects
“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.
February 14, 2025Government, Business, Technology, Equipment, Fuel
ArcelorMittal to Build $1.2 Billion Alabama EV Steel Mill
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.
February 14, 2025