Regional News

Bloomberg Exxon Mobil Corp, Chevron Corp and BP Plc are being pressed by investors with $1.9 trillion in assets under management to resist the Trump administration’s efforts to roll back Obama-era methane rules. The Interfaith Center on Corporate Responsibility sent a letter to 30 oil and natural gas explorers on behalf of 61 investors urging the companies to publicly declare ...

Bloomberg Bloated by debt, bled by corruption and battered by structurally declining sales, South African power utility Eskom Holdings SOC Ltd is facing what’s known in the industry as a “death spiral.” And the Johannesburg-based company poses the biggest credit risk to Africa’s most industrialised nation, according to S&P Global Ratings. More than a decade of unreliable supply and surging ...

Bloomberg China’s dramatic increase in liquefied natural gas (LNG) imports ov-er past two years may have hogged the headlines, but India may well emulate its neighbour in switching to the cleanest, fastest-growing fossil fuel. As China’s shift to natural gas from dirtier burning fuels such as coal and fuel oil helps improve air quality, Indian cities are rising in pollution ...

Bloomberg The pipeline shortage that has been strangling the Canadian oil industry is weighing on spending plans for next year, with one major producer slashing its capital budget for 2019 by C$1 billion ($750 million). Canadian Natural Resources Ltd, citing a lack of shipping options, said that it’s targeting a base capital plan of C$3.7 billion for next year, about ...

Bloomberg Xcel Energy Inc Chief Executive Officer Ben Fowke said keeping nuclear power plants open is key for the utility to meet its goal to slash greenhouse gases. The company, which pledged to cut carbon dioxide emissions 80 percent by 2030 and 100 percent by 2050, operates two reactors in Minnesota that will become increasingly vital as wind and solar ...

Bloomberg Eskom Holdings SOC Ltd, the cash-strapped South African power utility, wants the government to take on about 100 billion rand ($7.2 billion) of its debt as part of a rescue plan that will enable it to continue operating. The company’s executives outlined the proposal to move the debt onto the government’s balance sheet to bond investors in London this ...

Bloomberg Chancellor Angela Merkel’s government is bowing to industry pressure to boost Germany’s offshore wind capacity, already among the biggest in Europe. The government will assess how to boost offshore capacity to 20 gigawatts by 2030 from a planned 15 gigawatts, according to details in an energy law passed by the parliament. The administration in Berlin has steadfastly blocked pressure ...

Bloomberg While Alberta’s plan to mandate Opec-style production cuts already is boosting oil prices and shares, the revival of Canada’s resource nationalism adds another layer of risk for investors to consider. The removal of millions of barrels of crude from the market will help shareholders of smaller producers who are exempt from the cuts, like Bonterra Energy Corp, as well ...

Bloomberg Canada’s largest oil producing province ordered an unprecedented output cut, an effort to ease a crisis in the nation’s energy industry and adding to global actions to combat a recent price crash. The plan will reduce production of raw crude and bitumen from Alberta by 325,000 barrels a day, or 8.7 percent, from January until excess oil in storage ...

Bloomberg Vivint Solar Inc dropped the most in more than two years after saying a fund managed by Blackstone Group LP, its biggest owner, is selling 8 million of the rooftop solar company’s shares at a 21 percent discount. Vivint fell 21 percent to $5.51 at 11:33 am in New York, after earlier sliding as much as 22 percent. That’s ...