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California power cutoff begin as wildfire risks rise

Hundreds of thousands of California homes and businesses started to lose electric power early Wednesday as part of an unprecedented effort by Pacific Gas and Electric Co. to prevent wildfires, the utility said. Nearly 800,000 northern and central California homes and businesses can expect to lose electricity for up to several days, starting on Wednesday, PG&E said. State investigators determined in May that PG&E transmission lines had caused last year’s Camp Fire. …read more […]

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China Open to Partial U.S. Trade Deal Despite Tech Blacklist

(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China is still open to agreeing a partial trade deal with the U.S., an official with direct knowledge of the talks said, signaling that Beijing is focused on limiting the damage to the world’s second-largest economy.Negotiators heading to Washington for talks starting Thursday aren’t optimistic about securing a broad agreement that would end the trade war between the two nations for good, said the official, who asked not to be named as the discussions are private.But China would accept a …read more […]

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UPDATE 1-Attacks on Saudi Aramco have no impact on IPO plans – CEO

Saudi Aramco’s chief executive said on Wednesday there would be no impact on the stock market listing plans of the state oil giant after attacks on its installations last month, which he blamed on Iran. Attacks such as those on Sept. 14, which sent oil prices up as much as 20%, may continue if there is no concerted international response, Amin Nasser told the Oil & Money conference in London. The attacks targeted the Abqaiq and Khurais plants at the heart of Saudi Arabia’s oil industry, causing fires and damage and shutting down 5.7 million barrels per day …read more […]

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Angola seeks to reduce gas flaring to capture revenue

Angola wants to cash in on the roughly 3 billion cubic feet per day of associated natural gas it produces, most of which is now flared, the petroleum minister said on Wednesday. The announcement of efforts to generate more revenues by reducing gas flaring comes as Africa’s second largest crude producer faces a fall in output from its mature oil fields. “Over the years, Angola has somewhat neglected to capitalise on the natural resources that it has to offer,” Mineral Resources and Petroleum Minister Diamantino Azevedo said in a brochure released at an African energy conference in Cape …read more […]