Bloomberg PG&E Corp surged to a two-month high after reaching a $13.5 billion settlement with the victims of wildfires ignited by its power lines — a major step towards resolving the biggest utility bankruptcy in US history. The agreement, will cover claims stemming from some of the worst blazes to ever hit Northern California, including the 2017 wine country and ...

Bloomberg China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand. The move marks a “key step” in China’s efforts to deepen reforms of its oil and gas sector, the official Xinhua News Agency said. The government will merge ...

Bloomberg South Africa’s struggling power utility warned rolling blackouts may continue throughout the week as electricity cuts extended to a fifth day. Eskom Holdings SOC Ltd announced it will cut 4,000 megawatts from the grid on Monday, double the initial prognosis, after losing additional generating units at its power stations. While most of the utility’s problems emanate from plant failures, ...