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Norway Oil Strike Ends After Wage Agreement | Investing News

October 9, 2020

OSLO (Reuters) – Norwegian oil firms struck a wage bargain with labour union officials on Friday, ending a 10-day strike that had threatened to cut the country’s oil and gas output by close to 25% next week, negotiators for each side told Reuters.

Brent oil prices fell by more than 1% on the news to $42.67.

Six offshore fields shut on Monday and a further seven had been scheduled to follow in the coming days, with the oil and gas outage set to grow to 966,000 barrels of oil equivalent (boed) by Oct. 14, the industry had said.

“We have a deal, there will be no (more) strike (action),” negotiator Jan Hodneland of the Norwegian Oil and Gas Association (NOG) said after the talks ended.

The Lederne trade union confirmed the news.

“The strike is over,” union chief Audun Ingvartsen said.

Oil firms and union officials met on Friday with

Purdue close to plea agreement in federal OxyContin investigation: report

October 7, 2020

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Purdue Pharma is close to reaching an agreement to plead guilty to charges related to worsening the opioid epidemic in the U.S., according to an exclusive report from Reuters on Wednesday.

A plea deal between Purdue’s lawyers and federal prosecutors is expected to be announced within the next two weeks, according to six sources close to the situation. Along with criminal charges, negotiations for a civil claim are also ongoing for alleged unlawful conduct in Purdue’s handling of prescription painkillers.

The pharmaceutical company could face penalties exceeding $8 billion. Purdue is accused of engaging in illegal kickback programs that paid doctors and pharmacies to prescribe medically unnecessary opioids. The Sackler family, who control Purdue, are in discussions to pay $225 million for false claims about prescription painkillers. Current settlement discussions will not absolve the Sacklers from criminal liability they may face in the future.

Federal prosecutors launched a federal probe

Ronaldo rape case – US judge to hear arguments over hush-money agreement

October 6, 2020

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Cristiano Ronaldo’s legal fight against a woman who accuses the international soccer star of raping her in his suite at a Las Vegas resort more than 10 years ago is heading toward a trial before a federal judge in Nevada.

No date was immediately set, but U.S. District Judge Jennifer Dorsey said she will hear arguments and decide herself whether Kathryn Mayorga was mentally fit to enter a 2010 hush-money agreement with Ronaldo’s representatives that paid Mayorga $375,000.

Ronaldo’s attorney, Peter Christiansen, declined to comment on Tuesday.

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Mayorga’s lawyers, led by Leslie Mark Stovall, did not immediately respond to email and telephone messages about the judge’s ruling, issued Sept. 30.

Dorsey wrote that a court should decide whether Mayorga “lacked the mental capacity” to sign a confidentiality arrangement with Ronaldo’s representatives and “whether any agreement … was ever formed between the parties.”

It was not immediately clear whether

Reyna Silver Signs Option Agreement for Medicine Springs Project in Nevada

October 5, 2020

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Figure 1: Medicine Springs Location

Figure 2: Carbonate Replacement Deposit Model for Medicine Springs

Figure 3: NLR Exploration Results Medicine Springs

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO and HONG KONG, Oct. 05, 2020 (GLOBE NEWSWIRE) — (“Reyna or RSLV”) is pleased to announce that it has entered into a Property Option Agreement with Northern Lights Resources Corp. (“NLR”) on the Medicine Springs silver-lead-zinc project (the “Medicine Springs Project”) located in Elko County, Nevada. The Medicine Springs Project comprises 149 unpatented Federal mineral claims covering 1,189 hectares located in the Ruby Mountains Valley just off the famous Carlin Trend.

The

Caterpillar Signs Agreement to Acquire Weir Oil & Gas

October 5, 2020

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DEERFIELD, Ill., Oct. 5, 2020 /PRNewswire/ — Caterpillar Inc. (NYSE: CAT) has signed an agreement to acquire the Oil & Gas Division (“Weir Oil & Gas“) of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are serviced via an extensive global network of service centers located near customer operations.

“Combining Weir Oil & Gas’s established pressure pumping and pressure control portfolio with Cat’s engines and transmissions enables us to create additional value for customers,” said Joe Creed, Vice President of Caterpillar’s Oil & Gas and Marine Division. “This acquisition will expand our offerings to one of the broadest product lines in the well service industry.”

The purchase price of $405 million is to be paid in cash at

50 U.S. senators call for talks on trade agreement with Taiwan

October 1, 2020

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WASHINGTON, Oct 1 (Reuters) – Fifty U.S. senators from both parties called on Thursday for President Donald Trump’s administration to begin negotiating a bilateral trade agreement with Taiwan, part of a push by lawmakers for stronger U.S. action to counteract China.

The group of 42 Republicans and eight Democrats sent a letter to Trade Representative Robert Lighthizer citing Taiwan’s record as a U.S. economic partner and security ally, and encouraging him to begin the formal process of negotiating a comprehensive trade agreement.

Taiwan has long sought a free trade agreement with the United States, its most important supporter on the international stage, but Washington has complained about barriers to access for U.S. pork and beef.

In August, Taiwan paved the way for an eventual deal by announcing an easing of restrictions on the import of U.S. beef and pork that is expected to go into effect on Jan. 1.

Taiwan-U.S.

Oil Holds Steady on Hopes for U.S. Stimulus Agreement | Investing News

October 1, 2020

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MELBOURNE (Reuters) – Oil prices were little changed in early trade on Thursday after U.S. lawmakers postponed a vote on a $2.2 trillion coronavirus relief package in hopes of reaching a bipartisan deal, while rising infections fuelled demand fears.

U.S. West Texas Intermediate (WTI) crude

futures slipped 1 cent to $40.21 a barrel at 0146 GMT, after jumping 2.4% on Wednesday.

Brent crude

futures rose 3 cents to $42.33 a barrel, after falling 0.2% overnight.

U.S. Treasury Secretary Steven Mnuchin said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation.

WTI jumped on Wednesday after data from the U.S. Energy Information Administration showed crude stocks and distillate inventories, which include diesel and jet fuel, fell more than expected in the latest week.

But demand worries remain. Concerns are growing in New York, where COVID-19 infection rates continued to climb. The pandemic has infected more than 7.2 million

UK watchdog sets Wednesday deadline for agreement on business insurance claims

September 29, 2020

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LONDON (Reuters) – Britain’s Financial Conduct Authority said on Tuesday it has filed for an expedited appeal in its business interruption test case as a precaution against insurers not agreeing by Wednesday to pay out on claims made during the pandemic.

Hundreds of thousands of mainly small British businesses are waiting to hear if their insurer will pay out imminently, or keep them waiting while they appeal.

London’s High Court ruled that some of the world’s biggest insurers were wrong to reject thousands of claims from small firms battered by the COVID-19 pandemic.

The FCA said it continues to “work closely and at speed” with the eight insurers and two intervenors that participated in the test case to reach an agreement in principle on a range of issues to avoid a “leapfrog” appeal to the Supreme Court.

An agreement is needed by close of business on Wednesday, and seven insurer

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