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Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week: sources

Reuters
Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012. From a single 6,000-square-foot building in 1989, the multi-building complex today contains almost one million square feet of office space and includes employee perks like on-site Botox treatments at the headquarters. Chesapeake Energy Corp. CEO......
Reuters - Business

Rosneft says no change to dividend policy despite lower state stake

Reuters
FILE PHOTO: The logo of Russia’s oil company Rosneft is pictured at the Rosneft Vietnam office in Ho Chi Minh City, Vietnam April 26, 2018. REUTERS/Maxim Shemetov MOSCOW (Reuters) – Russia’s largest oil producer Rosneft (ROSN.MM) said on Sunday it planned to maintain a dividend policy of paying out half......
Reuters - Business

Trump gives U.S. agencies power to fast-track big infrastructure projects

Reuters
WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday signed an executive order that gives federal agencies emergency powers to fast-track major energy and other infrastructure projects by overriding environmental permitting requirements. FILE PHOTO: U.S. President Donald Trump walks out of the Oval Office to deliver a statement on the......
Reuters - Business

Qatar Petroleum’s $19 bln LNG vessel order boon for S.Korean shipbuilders

Reuters
SEOUL (Reuters) – South Korea’s ailing shipbuilders have been thrown a lifeline in an increasingly tough market with a $19 billion order from Qatar Petroleum (QP) for liquefied natural gas (LNG) ships, analysts said on Tuesday. FILE PHOTO – Giant cranes of Hyundai Heavy Industries are seen in Ulsan, South......
Reuters - Business

U.S. pipeline operator Energy Transfer warns of coming job cuts

Reuters
FILE PHOTO: Construction work continues on Sunoco’s Mariner East II natural gas pipeline near Morgantown in Chester County, Pennsylvania, August 1, 2017. REUTERS/Charles Mostoller/File Photo (Reuters) – U.S. pipeline operator Energy Transfer LP (ET.N) will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak......
Reuters - Business

Exclusive: Schlumberger names new top executives to oversee corporate overhaul

Reuters
(Reuters) – Schlumberger, the world’s largest oilfield services firm, will reshuffle top executives and operations in coming months to deal with this year’s historic decline in the oil industry, according to a memo to employees. FILE PHOTO – The exterior of a Schlumberger Corporation building is pictured in West Houston......
Reuters - Business

Canada recommends masks, says emergency loans have no cap but many limits

Reuters
OTTAWA (Reuters) – There will be no cap on the size of Canada’s emergency loans to large companies harmed by the coronavirus pandemic but there will be multiple restrictions, the government said on Wednesday, as it recommended wearing masks in public for the first time. FILE PHOTO: Canada’s Prime Minister......
Reuters - Business

Coronavirus widens climate rift between European and U.S. oil majors

Reuters
LONDON (Reuters) – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and......
Reuters - Business

Debt-stricken Chesapeake Energy to advance incentive executive pay

Reuters
NEW YORK (Reuters) – Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile. FILE PHOTO: A Chesapeake Energy......
Reuters - Business

Green hydrogen’s time has come, say advocates eying post-pandemic world

Reuters
LONDON (Reuters) – Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world. FILE PHOTO: The new Febus hydrogen bus is......
Reuters - Business

Pipe-laying vessel reaches Baltic as Russia’s Nord Stream 2 target looms

Reuters
MOSCOW (Reuters) – A special pipe-laying vessel that could be used by Russia to complete construction of the Nord Stream 2 gas pipeline to Germany has arrived in the Baltic Sea, a Reuters witness said on Sunday. Pipe-laying vessel Akademik Cherskiy owned by Gazprom, which Russia may use to finish......
Reuters - Business

Exxon, Chevron slam brakes on shale as oil demand tumbles

Reuters
HOUSTON (Reuters) – Exxon Mobil Corp and Chevron Corp are slamming the brakes on oil output, as the top two U.S. producers plan for combined global shut-ins of 800,000 barrels per day in response to plunging crude prices and fuel demand. Both companies on Friday outlined deep cuts in investments......
Reuters - Business

Coming U.S. shale results will test extent of oil hedges, output cuts

Reuters
(Reuters) – As low crude oil prices leave U.S. producers struggling to eke out profits, investors will focus on production hedges and cost-cuts to determine winners from losers as first quarter earnings roll out in coming days. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February 13,......

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