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News Highlights : Top Energy News of the Day

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12/07/2017 | 01:15 pm


Oil Edges Up After Stocks-Driven Fall




Oil prices ticked up slightly after closing at a three-week low Wednesday.




Ford to Move Electric Car Production to Mexico



Ford plans to produce a future electric car in Mexico rather than make it in the U.S., reversing plans announced in January to make its Flat Rock, Mich., assembly plant near Detroit its main electric-vehicle production site.




Westinghouse Creditors Criticize Marketing Process



Major creditors of Westinghouse Electric Co. say they are concerned that their interests are taking a back seat to corporate parent Toshiba Corp., as company advisers solicit bids for the business.




Analysts See 7 Billion-Cubic Feet Drain from U.S. Natural-Gas Inventories



Analysts expect government data scheduled for release Thursday to show that natural-gas stockpiles declined by 7 billion cubic feet of gas, less than usual for this time of year.




Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits



The shale-oil revolution boosted production and made America the world's oil-and-gas champion. Now, shareholders are insisting producers stop counting barrels and start chasing higher returns.




Move Over, Cushing: Houston Emerges as Oil Trading Hub



Houston has long been the capital of the U.S. energy industry. Now it is vying to be the center of global oil trading, as analysts say the Houston price better reflects market dynamics for U.S. crude than Cushing, Oklahoma.




U.S. Oil Inventories Fall as Refinery Activity Surges



U.S. inventories of crude oil fell by 5.6 million barrels to 448.1 million barrels, as refinery capacity utilization increased sharply, according to data released by the Energy Information Administration. Gasoline stockpiles climbed 6.8 million barrels to 220.9 million barrels.




Duke Energy Says Some Customers May Be Affected by Data Breach



Duke Energy Corp. said Tuesday some of its customers may have been affected by a data breach revealed by PayPal Holdings Inc. last week.




Westinghouse Formulates Chapter 11 Exit Plan



Westinghouse Electric Co. said it has begun formulating a chapter 11 plan with creditors and anticipates filing the plan with the bankruptcy court by spring.




Ponderosa Energy Files for Chapter 11 Bankruptcy



Ponderosa Energy LLC says it was driven into bankruptcy by a "fraudulent" and "usurious predatory" lender that has tried to foreclose on its properties and that reneged on a deal to pay millions of dollars in rebates to the small oil-and-gas company.






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