Axios

Big Oil's second-quarter financials are going to be a rough scene, but this morning brought a surprise when Equinor announced $350 million in adjusted earnings for the quarter.

Why it matters: The Norway-based multinational's profit was far below the $3.15 billion from the same period a year ago, but analysts had been expecting a loss, Reuters reports.

Several of the most politically vulnerable Senate Republicans are urging Majority Leader Mitch McConnell to include clean energy provisions in the next coronavirus economic recovery package.

Why it matters: The list of signatures is certainly a sign that vulnerable Republicans see a political upside in calling for clean energy policies. It also shows, once again, that energy politics can be quite regional, even in the era of hyper-partisanship.

Biking in America’s biggest cities has dropped due to the coronavirus pandemic, but the decline is less than for driving, according to new data exclusively shared with Axios.

Why it matters: Skyrocketing bike sales and anecdotal evidence suggests cycling could emerge a winner in the pandemic. But this data suggests a bike boom is — so far — unlikely to materialize or make a dent in oil demand.

Marathon Petroleum (NYSE: MPC) this week is expected to get first-round bids of between $15 billion and $18 billion for its Speedway gas station chain.

Why it matters: The price tag is large, but still reflects a pretty steep pandemic discount. Marathon had been in exclusive negotiations to sell Speedway for between $20 billion and $22 billion to 7-Eleven owner Seven & i Holdings, before talks fizzled in early March.

Big Oil's aggregate lobbying dipped in the second quarter, newly available public filings show.

Why it matters: They provide a guide to specific bills and topics companies lobbied on, and an overall look at money spent.

Tesla is enjoying arguably the best stretch of its 17-year history — despite a shambling economy, CEO Elon Musk's latest PR grenades, manufacturing quality concerns, and circling would-be competitors.

Why it matters: Beyond being a fascinating corporate drama, Tesla's success affects the pace of electric vehicle adoption, especially in the U.S., where it dominates what's still a rather niche market.