Saudi Aramco on Sunday announced an altered and expanded slate of directors, including the first female member, as the company plans for a massive IPO and widens its international footprint.
Why it matters: The move reflects the broader ambitions of the state oil giant, which is planning the IPO to help fund the kingdom's economic diversification.
"The world’s largest oil companies this week posted some of their best earnings in years as they control costs and ride rising oil prices that are nearing $70 a barrel," the Houston Chronicle's Jordan Blum writes on the front page.
Why it matters: "The improved earnings are another sign that the energy industry recovery is gaining momentum. U.S. oil production and exports are at record highs, and both Exxon and Chevron are investing billions of dollars to develop their holdings in the Permian Basin in West Texas."
The Trump administration is eyeing significant changes to President Obama's fuel efficiency standards, including a possible freeze on the standards for cars and light trucks, the Washington Post reports.
Why it matters: The draft proposal by the Department of Transportation's National Highway Traffic and Safety Administration (NHTSA) calls for freezing the standards at 2021 levels and holding them in place until 2026, per the Post. It also targets California's fuel-efficiency rules by rolling back an Obama administration mandate that allowed the state to set its own emissions limits.
