News Highlights : Top Energy News of the Day
Saudi Arabia Clamps Down as Prince Consolidates Power
Saudi Arabia is stamping out traces of internal dissent in a far-reaching campaign targeting influential clerics, liberal thinkers and even princes as Crown Prince Mohammed bin Salman moves to consolidate power ahead of his expected accession to the throne.
EQT Gets Pressure From Second Investor on Proposed Rice Acquisition
Hedge-fund firm D.E. Shaw Group is launching an activist campaign against EQT, meaning the energy company will now have to face down two unhappy investors as it works to close a $6.7 billion acquisition of Rice Energy.
Venezuela Stops Accepting Dollars for Oil Payments Following U.S. Sanctions
Oil-rich country, looking for ways to circumvent U.S. sanctions, is telling oil traders that it will no longer receive or send payments in dollars, people familiar with the new policy have told The Wall Street Journal.
Seadrill Sets a Fast Pace for Bankruptcy Turnaround
Seadrill is looking for a swift pass through a bankruptcy that will reduce the holdings of outside shareholders to make way for new money to save one of the world's largest offshore oil-drilling fleets.
Oil Rises on Signs of Tightening Supply
Oil prices rose, supported by a record drop in gasoline inventories and signs that market supply and demand are coming back into balance.
U.S. Oil Stockpiles Rise After Hurricane Harvey
EIA data revealed U.S. inventories of oil jumped 5.9 million barrels, ahead of expectations of 3.7 million barrels, for the past week as continued refinery outages due to hurricane Harvey kept demand for crude oil low. Gasoline stockpiles fell by 8.4 million barrels when a decline of 3 million was expected.
Global Oil Supply Edged Lower in August
Global oil supply fell in August for the first time in four months, a result of Hurricane Harvey, declining OPEC output and summer production maintenance, according to the International Energy Agency.
Saudi Arabia Pushes OPEC on New Tack to Curb Oil Supplies
In seeking to further curtail global oil supplies and lift prices, Saudi Arabia wants to shift the emphasis to exports rather than output. OPEC's declines in exports aren't keeping pace with production cuts, a break with past trends.
Flynn Promoted Nuclear-Plant Project While in White House
As President Donald Trump's national security adviser, retired Lt. Gen. Mike Flynn promoted a controversial private-sector nuclear power project in the Middle East that had once involved Russian companies, according to former security-council staffers and others familiar with the effort.
Analysts See Large Addition to U.S. Natural-Gas Inventories
Analysts expect government data scheduled for release Thursday to show that natural-gas stockpiles rose by 83 billion cubic feet, more than average for this time of year.