The US coal sector is in terminal decline resulting with 26 companies entering insolvency in the last three years, according to financial analysts.”A report by the Carbon Tracker Initiative found that in the past five years the US coal industry lost 76% of its value. At least 264 mines were closed between 2011 and 2013. The world’s largest private coal company, Peabody Energy, lost 80% of its share price.

These declines were in spite of the Dow Jones industrial average increasing by 69% during the same period. Authors said this indicated a decoupling of US economic growth from coal.

Co-author Luke Sussams said the coal industry had been pummelled by cheap shale gas and a series of Environmental Protection Agency (EPA) regulations.” [The Guardian]

Private equity firm Quantum Energy Partners will invest up to $1 billion for acquisition of oil and gas assets that will be managed by Linn Energy LLC. “Linn will be able to take a 15-50 percent direct working interest in the acquired assets, the two companies said in a joint statement on Monday.

Linn’s shares rose 4.5 percent in premarket trading, while its unit LinnCo LLC’s shares were up 6.5 percent. The deal comes two months after Linn received funding of up to $500 million from GSO Capital Partners LP, a unit of Blackstone Group LP.” [Reuters]

Egypt, Ethiopia and Sudan signed an agreement on Monday with regards to shared water resources from the Nile, which runs through all three countries. “As Ethiopia presses ahead with its construction of a massive new dam it hopes will help alleviate the country’s power shortages.

The dam had been an issue of contention among the countries, with Egypt concerned it would reduce its share of the Nile established under a colonial-era agreement. But on Monday, leaders of the three nations welcomed the agreement in speeches in Khartoum.” [The Associated Press]