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...The Biden administration has for the first time in several decades ratcheted up the cost of drilling on public lands in a landmark new regulation as it seeks to crack down on the oil and gas industry ahead...
...The US oil and gas industry is suing the Biden administration over its decision to severely restrict offshore drilling amid a growing industry backlash against its climate and energy policies....
...It may well sell down its stake to an international oil company. Candidates include Shell, Total and Chevron, which are all drilling, or planning to drill, in the same Orange oil basin....
...Cost cutting....
...“There are fewer and fewer companies that believe in the country, and have invested in it like Anglo....
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...BHP has proposed an all-share takeover of Anglo American in a deal that would reshape the mining industry and bolster the presence of the world’s largest mining company in copper, iron ore and fertilisers...
...“The timing is not surprising considering Anglo is reviewing its business,” said one large shareholder in BHP and Anglo American....
...London-listed shares in Anglo American have been down by more than a third since the start of last year, putting its market capitalisation at £29bn, as the company’s De Beers diamond division and platinum...
...Yet the pace of oil production growth is set to slow in the coming years, as prime acreage runs low and Wall Street insists on shareholder returns over new drilling campaigns from energy companies....
...It will now be companies with 1,000 or more employees and €450mn in annual revenue, up from 500 employees and €150mn in revenue....
...Guyana’s vice-president Bharrat Jagdeo earlier said the South American nation had to be “very vigilant” and “prepared for any eventuality” after Venezuela’s referendum on the issue on Sunday....
...Anglo American, one of the few miners to build a copper mine in recent years, offers growth in the red metal, buried amid its South African iron ore and platinum assets....
...BHP Billiton was formed in 2001 through a merger between BHP and South African company Billiton. Read more here....
...The company had put “excessive” emphasis on sales performance, said chair Xiang Li....
...The $1.6tn fund’s chief executive told the FT it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in...
...And offshore projects starting now might not come online until 2050. Only the wealthiest nations and companies can afford such risk....
...Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast...
...BHP has proposed a £31bn takeover of Anglo American that would bring together two global mining companies and rank as one of the industry’s largest transactions in years....
...in cutting greenhouse gas (GHG) emissions....
...and nurture new talent....
...investment package Latin American cocoa farmers rush to expand planting as prices spike The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino....
...Anglo American’s largest shareholders have criticised BHP’s £31bn proposal to take over its London-listed rival as an “opportunistic” bid that substantially undervalues the company....
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