The IEA says that in the third quarter of 2016, the U.S. shale industry became cash flow neutral for the first time ever. That isn’t a typo. For years, the drilling boom was done with a lot of debt. Source: OilPrice
The troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses as Beijing’s price for saving millions of homeowners from financial ruin. Source The Guardian
US Treasury Secretary Janet Yellen has warned the US government will run out of money next month. She called on Congress to raise the debt limit in a letter to House Speaker Nancy Pelosi. Source DW
he last section of the Nord Stream 2 gas pipeline has been welded into place, its operator said on Monday, meaning the two long stretches of the pipe can now be joined to complete the Baltic subsea link. Source Reuters
