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News Highlights : Top Energy News of the Day

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04/21/2017 | 10:16 am

Latest on Oil

Crude futures were essentially flat in Asian trading as investors continue to wait whether the Organization of the Petroleum Exporting Countries will extend ongoing production cuts deeper into 2017.

Political Path Narrows for Exxon Deal With Russian Firm

Bipartisan political opposition is taking shape to the request by Exxon Mobil Corp. for a waiver from U.S. sanctions to allow it to drill with Russian state-oil giant PAO Rosneft in the Black Sea.

BHP Billiton Venture to Invest $204 Million in Australian Coal Mine

BHP Billiton is planning a US$204 million expansion of its coking-coal operations in eastern Australia to increase production of the steelmaking ingredient and reduce overall operating costs.

Ocean Rig Is Sheltered From Highland Capital's Litigation Threat

Highland Capital Management LP on Thursday was dealt a setback in its continuing challenge to Ocean Rig UDW Inc.'s debt restructuring proposal.

Appeals Court Says Bankruptcy Deal Bars Lawsuit Against Kerr-McGee

A U.S. appellate court on Thursday ruled that thousands of people who say they were injured by contamination at a Pennsylvania wood-treatment plant can't sue the plant's former owner.

Tesla Recalls Model S and Model X Vehicles Over Faulty Parking Brakes

Tesla Inc. said Thursday it is recalling 53,000 Model S sedan and Model X sport-utility vehicles over an issue with electric-parking brakes that could prevent them from being released.

OPEC Likely to Extend Production Cut Deal, Says Saudi Minister

OPEC is likely to reach an agreement to extend the group's production cuts into the second half of 2017, Saudi Arabia's energy minister said.

Abu Dhabi Sovereign Fund Finds New Cash Source as Oil Prices Slump

Abu Dhabi sovereign wealth fund Mubadala has agreed to invest in private equity on behalf of another firm for the first time in a deal worth as much as $750 million with Paris-based Ardian, say people familiar with the matter.

Woodside Quarterly Revenue Dented by Storms, Rainfall

A decline in production thanks to bad weather and a buildup in inventory weighed on Woodside Petroleum's first-quarter revenue, although the Australian energy firm stuck with its output target for the year.

China's Oil Refiners Are Coming for Your Market Share

Like steel and aluminum before, Chinese oil refining overcapacity is spilling into global markets and depressing profits.

Exxon Seeks U.S. Waiver to Resume Russia Oil Venture

Exxon Mobil has applied to the Treasury Department for a waiver from U.S. sanctions on Russia in a bid to resume its venture with state oil giant PAO Rosneft in the Black Sea forged in 2012 by then-CEO Rex Tillerson, according to people familiar with the matter.

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