News bites: Chesapeake Energy’s next moves, OPEC’s headwinds, and more

The Wall Street Journal reports that OPEC’s ability to sway global oil markets is “hamstrung” by three factors: Inability to enforce internal production targets, the European debt crisis, and looming sanctions against Iran.

The Associated Press reports that embattled natural gas giant Chesapeake Energy is expected to name a new chairman this week.

AP also explains why North Dakota’s oil boom has been millions of years in the making.

The Guardian reports on negotiations over the outcome of the big United Nations green development in summit in Rio later this week.

Reuters has the latest on Japan’s efforts to move away from nuclear power in the wake of last year’s power plant catastrophe.

“Japan approved on Monday incentives for renewable energy that could unleash billions of dollars in clean-energy investment and help the world's third-biggest economy shift away from a reliance on nuclear power after the Fukushima disaster,” the news service reports.