Layoffs at Chesapeake Energy ahead of merger vote by shareholders
The same day that shareholders of Chesapeake Energy...
The same day that shareholders of Chesapeake Energy voted on whether to approve a proposed merger with Southwestern Energy, Chesapeake confirmed the layoffs of 80 workers.
The layoffs represented about 10% of the Oklahoma City company’s workforce, reported The Oklahoman. The company explained the layoffs came as a result of Chesapeake’s sale last year of its previous crude oil operations largely in the Eagle Play of south Texas. Chesapeake divested its oil production and exploration efforts in return for more emphasis on natural gas operations.
Mexico’s New Refinery Sees Another Delay. The pet project of Mexico’s outgoing president Andres Manuel Lopez Obrador, the 340,000 b/d Dos Bocas refinery, is unlikely to be commissioned before the country’s elections this week as Pemex is supplying only 5% of the plant’s total capacity.
Australia’s Power Woes Turn Ugly. Delays in installing transmission lines tied to wind and solar farms might trigger blackouts across Australia between 2024 and 2028 as the country continues to mothball gas- and diesel-powered generation capacity in southern states.
Zelensky issued a plea for more help from the West
In a series of interviews with Western outlets Tuesday, a frustrated...
In a series of interviews with Western outlets Tuesday, a frustrated Ukrainian President Volodymyr Zelensky urged the US and other NATO countries to shoot down Russian missiles in Ukrainian airspace and allow Ukraine to use Western weapons against targets inside Russia. The requests come as Ukraine’s forces are stretched thin, struggling to defend against mounting Russian incursions. The new package of US weapons is just now starting to arrive in Ukraine after months of delays.
Pixar made the biggest staff cut in its history. The...
Pixar made the biggest staff cut in its history. The Disney-owned animation studio laid off 14% of its workforce, or 175 employees, as part of an effort to cut costs and refocus on quality over quantity, according to The Hollywood Reporter. The mandate comes from Disney CEO Bob Iger, who hopes to shepherd the Mouse House to its former glory after a period of churning out several underwhelming direct-to-streaming series and movies. Following the layoffs, Pixar plans to prioritize upcoming feature films like Inside Out 2 and Toy Story 5 over streaming.
Nestle is launching a new frozen-food brand marketed toward Ozempic and Wegovy users.
Amazon reportedly halted orders of Nvidia’s “superchip” as it waits for an even more advanced model to power its cloud computing operation.
A British passenger was killed and several others were seriously injured yesterday when a flight from London to Singapore hit severe turbulence.
Donald Trump is threatening to sue over “blatantly false assertions” in the biopic The Apprentice, which debuted at Cannes this week.
Matthew Perry’s death is being investigated by Los Angeles police over how the beloved Friends actor received the ketamine that was found in his system.
