CNN — When Hurricane Fiona slammed into Puerto Rico in September, it triggered a nearly island-wide blackout as the storm’s strong winds took down the fragile power grid. Carlos Ramos spoke to CNN as he helped his friends clean up their flood-damaged beach home in Salinas. Ramos said most of his neighbors in Aguas Buenas, […]
New York CNN — Phillips 66 is cutting at least 1,100 jobs by the end of this year as the refining giant seeks to slash costs and steer a larger chunk of its soaring profits to shareholders. At its investor day meeting in New York Wednesday, Phillips 66 detailed plans to slim down in a […]
CNN — A group of tourists traveling in the Peruvian Amazon, who were detained on Thursday by an indigenous community demanding government action over an oil spill, will be released Friday, Abel Chiroque, head of the ombudsman office in Loreto, told CNN. “We have been in touch with the leader of the Cuninico community… and […]
London CNN Business — Commodities giant Glencore (GLCNF) has been ordered to pay a record £281 million ($314 million) penalty by a UK court for bribing officials across Africa to gain access to oil. The UK government’s Serious Fraud Office (SFO), which brought the case against Glencore Energy UK, said on Thursday that the penalty […]
New York CNN Business — Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians urging the Federal Reserve to pause its aggressive rate hikes in order to fight inflation are misguided. Those critics say that the Fed could throw the economy into recession, but Summers argued there’s […]
London CNN Business — BP’s profit more than doubled in the third quarter of the year, extending a bumper run of earnings for the world’s biggest oil and gas companies that will add to growing calls in Britain and the United States for higher taxes on windfall profits. The UK-based energy company posted underlying profit […]
CNN — Nations are still way off track to limit global warming below a dangerous threshold as catastrophic extreme weather events are already threatening the health and food security of people around the world, a pair of reports have found. The United Nations reported Wednesday that global warming will rise to between 2.1 and 2.9 […]
New York CNN Business — Presidents don’t have magic wands to make inflation disappear. But they do have a powerful tool that can help ease the pain of high gas prices: The Strategic Petroleum Reserve. More than any of his predecessors, President Joe Biden has aggressively leaned on this emergency oil stockpile to knock down […]
Hong Kong CNN Business — Europe’s gas crisis will be “a catalyst” for Mercedes-Benz to push deeper into clean energy, says its CEO. In an interview Sunday, Ola Källenius told CNN Business that the automaker had been leaning more toward wind energy for its operations due to the long-running power crunch, which has weighed on […]
Paris CNN Business — French President Emmanuel Macron called a crisis meeting with senior ministers on Monday to address crippling strikes at gas refineries that has caused fuel pumps to run dry. Macron declared Monday his desire for a solution “as quickly as possible” to the protests, promising to “do his utmost” to find one, […]