International upstream energy co. cuts billions from 2020 spending
France-based Total SA (NYSE: TOT) has joined the ranks of many other upstream companies in cutting its spending plans for 2020 to better fit the realities of the market. Total’s U.S. headquarters is in Houston.
The company now plans to spend less than $15 million, down $3 billion from its original projections, according to a March 23 press release. That’s down more than 20 percent.
Total is also looking to shave off even more of its operating costs in 2020 — it now plans to come in $800…
D.C.-area solar companies ask for exemption from potential ‘shelter-in-place’ efforts
New Columbia Solar CEO Mike Healy said his growth plans have changed to survival plans.
First project planned for new Gaston County business park
Cherryville Business Park is a 93-acre, county-owned business park on land adjacent to Sunbeam Industrial Park.
Island Energy: Fuel operations are continuing uninterrupted
Island Energy Services, LLC in Kapolei has continued its general Hawaii operations, without any interruptions to its fuel supply or inventories, despite the continuing spread of the coronavirus.
Last week, Gov. David Ige listed fuel distribution as a critical service and Island Energy services 57 Texaco stations throughout the Islands.
“Our employees are continuing to work around the clock to provide transportation fuels to the general public and its commercial accounts, including government vehicle…
UPS continues electric vehicle push with Gaussin ‘shifters’ test in London
While company initiatives around the globe are stuck in neutral during the COVID-19 coronavirus outbreak, UPS is charging forward on a piece of its green energy strategy.
United Parcel Service Inc. (NYSE: UPS) said it’s testing the suitability and durability of Gaussin electric vehicles, known as “shifters,” which have autonomous driving capability, to move semi-trailers and containers on the grounds of UPS’s advanced-technology London Hub.
Gaussin SA, a French engineering company, and UPS…
EQT weighing options with in-person annual meeting
EQT Corp. last week sent shareholders proxy materials ahead of its scheduled May 1 annual meeting, which for the moment is still scheduled for its headquarters in downtown Pittsburgh.
The Pittsburgh-based natural gas driller has long announced that it will hold the annual meeting May 1, after two years under the previous management teams of holding them later in the year. Last year’s annual meeting was held in early July. A company spokeswoman told the Business Times that it was holding its options…
PG&E will plead guilty to manslaughter in Camp Fire
The plea agreement followed the announcement Friday that Gov. Gavin Newsom was willing to approve PG&E’s plan to emerge from bankruptcy.
Occidental, Icahn reportedly near agreement on board seats
Houston-based Occidental Petroleum Corp. (NYSE: OXY) and billionaire activist investor Carl Icahn reportedly are close to reaching an agreement that involves seats on the oil producer’s board of directors.
People familiar with the matter told the Wall Street Journal that two Icahn lieutenants — Andrew Langham and Nicholas Graziano — would become board members under the plan being discussed. Icahn and Occidental also would agree on a third independent director.
Finally, Icahn would agree to…
Help us help you: Tracking efforts to help St. Louis businesses
I’ve only been here a little over a year, but this much has been apparent from day one: St. Louis is proud.
It’s proud of its people, it’s proud of its business, and it’s proud when it can show how much it supports both its people and its businesses.
In keeping with that spirit, the St. Louis Business Journal is compiling a guide to all of the ways the community is attempting to help businesses or individuals who may be struggling due to lost business or income from the coronavirus pandemic.
And…
Shell cutting operating costs, capital spending to weather oil price storm
Royal Dutch Shell, which is building a multibillion-dollar petrochemical complex in Beaver County, on Monday announced plans to cut at least $3 billion from its operating costs and drop capital spending by at least $5 billion as it and other oil and gas companies try to weather the steep fall in oil prices due to the coronavirus.
Shell (NYSE: RDS.A) made the announcements Monday, saying that it believed these and other measures would help it save between $8 billion and $9 billion on free cash flow…
