News Highlights : Top Energy News of the Day – Friday at 4 PM ET

2016 07 13T003103Z 1 LYNXNPEC6C009 RTROPTP 2 GLOBAL MARKETS


Oil prices log worst week since February as concerns over Middle East supply risks fade

Oil futures finished lower Friday – with easing concerns over potential supply disruptions in the Middle East, strong U.S. production and signs of slowing demand prompting prices to register their largest weekly percentage loss since early February.

New EU Cyber Rules for Electricity Providers Aim to Prevent Cascading Outages

Critical power suppliers will be required to submit cybersecurity assessments every three years and implement protections.

Exxon Completes $60 Billion Pioneer Natural Resources Acquisition

Exxon Mobil has completed its $60 billion acquisition of rival Pioneer Natural Resources after reaching an agreement with antitrust regulators, closing out the largest oil-and-gas deal in decades.

New Treasury Tax Guidelines Open Door for Corn and Soy in Sustainable Aviation Fuels

The guidance is a boon for biorefineries, but some observers worry it is based on unproven assumptions.

Energy & Utilities Roundup: Market Talk

Find insight on the Trans Mountain oil pipeline, Shell, PetroChina and more in the latest Market Talks covering the Energy & Utilities sector.

Former Pioneer CEO Is Accused of Trying to Collude With OPEC

The FTC alleges Scott Sheffield tried to coordinate on oil production and prices. The agency referred the case for a potential criminal probe.

ConocoPhillips’s production narrowly beats analyst estimate, but profit falls slightly short

Shares ticked up premarket as the company says it plans to return $9 billion to shareholders through dividends and stock buybacks in 2024.

Shell Launches $3.5 Billion Buyback

Shell’s first-quarter adjusted earnings fell by less than expected, and the oil major kicked off a share buyback as it hurried to close the valuation gap to its U.S. rivals.

Tesla’s Downsizing Worries Supercharger Industry

Widespread layoffs within the Tesla unit are a blow to efforts to build out a national charging network.

U.S. Crude Oil Inventories Post Big Build Amid Lower Refinery Runs

Commercial crude oil stockpiles rose by 7.3 million barrels last week, after analysts had predicted a 1.5 million barrel decrease.

(END) Dow Jones Newswires

05-03-24 1615ET



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