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Papua New Guinea's petroleum minister on Friday flagged a standoff in talks with Exxon Mobil Corp tied to a $13 billion gas expansion, saying the U.S. oil giant was unwilling to negotiate on the country's terms. The state's negotiating team had set out draft terms for negotiations on developing the P'nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a "fair deal" for PNG. "It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position," Kua said in a statement emailed to Reuters....
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(Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Britain’s main political parties agree on one thing in this election season: The environment needs radical action fast.While Boris Johnson’s Conservatives and the Labour opposition run by Jeremy Corbyn scrap over Brexit and socialism, their hardening consensus about climate change is putting the U.K. on track for what may be the most radical energy policies in the developed world.Those two parties along with Liberal Democrats and Greens are responding to pressure for action from protesters, who occupied public spaces and bridges for weeks last month to draw attention to the risks of global warming. Scientists also are raising the alarm bell, with the British Broadcasting Corp. amplifying the message through a constant stream of David Attenborough documentaries on the issue.“Public and business concerns have created a landscape where none of the parties can ignore climate change,” said Nick Molho, executive...
(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk took to the stage late Thursday to reprise a familiar role: pitching a future vehicle to a throng of adoring fans. This time, it’s the “Cybertruck” -- Musk’s name for Tesla’s new electric pickup truck.The futuristic vehicle starts at $39,900 and will come in three variants, Musk told an audience in Hawthorne, California, on Thursday. The truck can already be ordered with a deposit of $100, though production “nears in late 2021,” Tesla said on its website.After a “Blade Runner”-inspired introduction, Musk had Tesla’s chief designer, Franz von Holzhausen, smash the truck’s steel exterior with a sledgehammer. A demonstration of shatterproof glass didn’t go as well, with a metallic ball thrown at the vehicle breaking two of its side windows.“You want a truck that’s really tough, not fake tough,” Musk said. “A truck you can take a sledgehammer to that doesn’t dent.”Traditional...