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News Highlights : Top Energy News of the Day

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02/17/2017 | 05:16pm CEST
Latest on Oil 

Crude futures eased, caught between larger-than-expected growth in U.S. crude stocks and reports that the OPEC could consider extending its production cuts beyond the six-month deal.

Worst Gasoline Glut in 27 Years Could Be Oil Rally's Nemesis 

A gasoline glut brought on by drivers buying less at filling stations is emerging as one of the biggest threats to the yearlong oil-price rally.

Energy Firms Face Crude Reality: Better to Leave It in the Ground 

High costs, low prices and tough environmental rules are forcing oil companies to curb production. Exxon is expected to soon disclose that as much as 3.6 billion barrels of oil that it planned to produce in Canada in the next few decades is no longer profitable to extract.

Basketball Legend's Son Slam Dunks an Oil Deal 

Nate Walton, son of famed hoopster and broadcaster Bill Walton and a private-equity partner at Ares Management, orchestrated one of the most successful shale deals in recent years, expected to net more than a $1 billion within a year.

Hurdles Mount for Saudi Aramco's IPO 

Complications restructuring Saudi Arabia's state-owned oil company and disentangling its finances from those of the government are slowing the march toward what is expected to be the biggest initial public offering in history.

Brazil, 10 Other Countries Coordinate Odebrecht Probes 

Prosecutors in Brazil and 10 other countries agreed to move to a new level of cooperation in their corruption investigations of Brazilian construction company Odebrecht SA.

TransCanada Tries Again for Nebraska's Approval of Keystone 

TransCanada Corp. has rebooted its effort to build the Keystone XL oil pipeline across Nebraska, where it had met with opposition before it withdrew its application when the Obama administration denied the company a federal permit in late 2015.

SCANA Drawing Up Contingency Plans for S.C. Reactors 

A utility planning to build two nuclear power reactors in South Carolina said Thursday that it was drawing up contingency plans in case its contractor, a subsidiary of Toshiba Corp., cannot finish the job.

Encana Narrows Loss 

Encana Corp. reported a smaller loss for the fourth quarter as the energy producer moved to cut costs.

Cenovus Energy Posts Surprise Quarterly Profit 

Cenovus Energy Inc. swung to a profit in the latest quarter, boosted by increased oil production.

German Power Glut Leaves Neighbors Tilting at Windmills 

As Germany ramps up its wind and solar energy, its electricity surpluses are spilling over the border into Poland and the Czech Republic, straining their grids and forcing them to make costly upgrades.

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