Bloomberg Oil extended declines towards $40 a barrel as concerns about demand linger with coronavirus raging across many regions. Infections flared by a record in Hong Kong, and Los Angeles is on the brink of another stay-at-home order. New cases have accelerated in California, although the pace of deaths slowed in Arizona and Florida. The concerns were reflected in equity …

Bloomberg The European Union’s most coal-reliant country has a controversial new strategy for its 400 billion-euro ($456 billion) green push: bulk up the Polish state oil company and let it lead the transformation. Poland announced plans to build an energy champion with the financial heft to drive the overhaul by combining refiner PKN Orlen SA and gas group PGNiG SA. …

Bloomberg Chevron agreed to buy Noble Energy Inc for about $5 billion in shares. The takeover is the first major deal since the coronavirus triggered a severe oil slump. It’s a clear vote of confidence in the future of the US shale industry even as it struggles to adapt to lower crude prices. “Our strong balance sheet and financial discipline …