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December 6, 2019
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PG&E nearing $13.5 billion deal with wildfire victims -Bloomberg

Reuters
(Reuters) – Bankrupt California power producer PG&E Corp (PCG.N) is close to finalizing terms for a $13.5 billion payout to victims of wildfires triggered by its power lines, Bloomberg reported on Wednesday, citing people familiar with the matter. FILE PHOTO: PG&E works on power lines to repair damage caused by...
Reuters - Business

PG&E nearing $13.5 billion deal with wildfire victims – BBG

Reuters
FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. To match Special Report USA-FUNDS/INDEX REUTERS/Elijah Nouvelage (Reuters) – Bankrupt California power producer PG&E Corp (PCG.N) is close to finalizing terms for a $13.5 billion payout to victims...
Reuters - Business

PG&E failed to inspect transmission lines that caused deadly 2018 wilfdfire: state probe

Reuters
(Reuters) – Bankrupt California power producer PG&E Corp (PCG.N) did not properly inspect and replace transmission lines before a faulty wire sparked a wildfire that killed more than 80 people in 2018, a probe by a state regulator has concluded. FILE PHOTO: PG&E works on power lines to repair damage...
Reuters - Business

PG&E says its distribution lines caused no deadly fires in 2019

Reuters
(Reuters) – California utility PG&E Corp (PCG.N) has determined there were no lives or structures lost in 2019 wildfires that may have been caused by its distribution lines, according to a Friday court filing. FILE PHOTO: An air tanker makes a retardant drop while battling the Kincade fire near Calistoga,...
Reuters - Business

South African Airways needs government loan guarantee or risks liquidation: board member

Reuters
JOHANNESBURG (Reuters) – South African Airways (SAA) needs a government guarantee to help it secure bank funding otherwise the carrier is at risk of entering liquidation, board member Martin Kingston said on Wednesday, as a crippling strike enters its sixth day. FILE PHOTO: Passengers board a South African Airways plane...
Reuters - Business

Montana lawmakers seek more time for Keystone XL public, tribal input

Reuters
WASHINGTON (Reuters) – Montana lawmakers representing Native American tribal members called on the state’s congressional delegation and the U.S. State Department on Thursday to extend the public comment period for the environmental review of the Keystone XL pipeline, saying tribes were not properly consulted. FILE PHOTO: Oil spilled from a...
Reuters - Business

U.S. lawmakers question why Centrus awarded federal uranium contract

Reuters
WASHINGTON (Reuters) – A bipartisan group of U.S. Representatives asked officials at the Energy Department on Wednesday how Centrus Energy Corp (LEU.A), a company whose chief recently served as deputy at the department, won a federal contract to demonstrate a production method for a new fuel for nuclear power plants....
Reuters - Business

Oil is our gold and we aim to use all of it, ADNOC official says

Reuters
ABU DHABI (Reuters) – Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said. FILE PHOTO: A general view of ADNOC headquarters in Abu Dhabi, United Arab...
Reuters - Business

Wall Street increasingly weighs risk from climate change

Reuters
NEW YORK (Reuters) – In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency. FILE PHOTO: Cal Fire firefighters look on as a plane drops fire retardant on the Maria Fire in Santa Paula, California, U.S....
Reuters - Business

California Governor to convene meet of PG&E shareholders, executives next week

Reuters
FILE PHOTO: PG&E crew work on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage (Reuters) – California Governor Gavin Newsom said he will convene a meeting of Pacific Gas and Electric Co executives, shareholders, wildfire victims, and PG&E’s other...
Reuters - Business

Australia’s Genex pumped hydro project funding falls through, shares tank

Reuters
(Reuters) – Australia’s Genex Power Ltd (GNX.AX) on Friday said it won’t be able to line up funding for its pumped hydro project until next year, after failing to sign a power sale agreement from the project. The setback knocked the small-capitalisation company’s shares down to A$0.165, off 39%, by...
Reuters - Business

Factbox: U.S. coal-fired power plants scheduled to shut

Reuters
(Reuters) – U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,300 MW in 2018, according to U.S. Energy Information Administration (EIA) and Thomson Reuters data. The number of megawatts retired in 2018 was the...
Reuters - Business

California regulator to probe utilities’ mass power outages aimed at preventing fires

Reuters
(Reuters) – California regulators said on Monday they will open a formal probe of whether utilities violated any rules by cutting power to millions of residents for days as a precaution during recent periods of high winds and heightened wildfire risks. FILE PHOTO: PG&E works on power lines to repair...
Reuters - Business

California regulator to investigate utilities’ mass fire-prevention power outages

Reuters
FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage/File Photo SAN FRANCISCO (Reuters) – The California Public Utilities Commission on Monday said it would open a formal investigation of wide-scale precautionary power outages imposed by...
Reuters - Business

South Africa’s Eskom takes Deloitte to court alleging improper contracts

Reuters
JOHANNESBURG (Reuters) – South Africa’s cash-strapped state power firm Eskom said on Monday it had filed court papers in a bid to recover 207 million rand ($14 million) in connection with contracts it alleged were improperly awarded to Deloitte Consulting in 2016. FILE PHOTO: Men walk past electricity pylons as...
Reuters - Business

Exxon Mobil, India’s ONGC sign expertise-sharing deal

Reuters
NEW DELHI (Reuters) – Global energy giant Exxon Mobil Corp (XOM.N) will offer its expertise and technology to India’s biggest state-owned explorer Oil and Natural Gas Corp Ltd (ONGC.NS) to help develop its resources in offshore blocks, according to two sources directly privy to the development. FILE PHOTO: A logo...
Reuters - Business

One man dies as wind-driven Los Angeles wildfire forces 100,000 to flee

Reuters
LOS ANGELES (Reuters) – A fierce, wind-driven wildfire swept through foothills and canyons along the northern edge of Los Angeles on Friday, engulfing homes, closing roads and devouring acres of dry brush and chaparral as 100,000 residents were forced to flee. At least one death was attributed to the fire,...
Reuters - Business

Wind-driven Los Angeles wildfire leaves one dead, forces 100,000 to flee

Reuters
LOS ANGELES (Reuters) – A fierce, wind-driven wildfire swept through foothills and canyons along the northern edge of Los Angeles on Friday, engulfing homes, closing roads and engulfing acre upon acre of dry brush and chaparral as 100,000 residents were forced to flee. At least one death was attributed to...
Reuters - Business

Burning trash sparked wildfire that destroyed dozens of homes in California: fire department

Reuters
(Reuters) – Burning trash dumped by a garbage truck caused a fire that by early Friday had destroyed dozens of homes in California’s Riverside County, fire officials said, as wildfires across the state led to power cuts for hundreds of thousands of people. Authorities ordered hundreds of people in the...
Reuters - Business

California governor says broad power shutdown to prevent fires ‘unacceptable’

Reuters
LOS ANGELES (Reuters) – California Governor Gavin Newsom called a widespread electricity shutdown triggered by a power company to prevent wildfires “unacceptable”, as gale-force winds and dry weather posed a critical fire threat to the north of the state. Pacific Gas and Electric Co (PG&E) has imposed unprecedented shut-offs that...

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