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News Highlights : Top Energy News of the Day

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02/14/2018 | 06:16 am


A Billion-Dollar Bribery Scandal Sweeps Through the Oil Industry



Shell and Eni paid $1.3 billion for rights to a prized offshore oil field in Nigeria. The question of whether the money was mostly a bribe is at the heart of one of the biggest corruption scandals the industry has faced.




U.S. Crude-Oil Supplies Seen Increasing in DOE Data



U.S. weekly crude-oil inventories are expected to show an average increase of 2.6 million barrels in data due Wednesday from the Department of Energy. Gasoline stockpiles are expected to grow by 1.4 million barrels on average.




Louisiana Port Edges Closer to Oil Export on Supertankers



A giant U.S. crude import terminal is moving closer toward loading large vessels that could carry oil abroad, a move that would allow bigger shipments to Asia and other lucrative overseas markets.




Why U.S. Oil Drillers Are Flooding the World



As oil rebounded last year, it seemed that the U.S. shale patch had become more disciplined in its spending. New projections for production suggest that assumption could be wrong.




Shale Output Hasn't Grown This Fast Since Oil Was at $100



U.S. shale companies are churning out crude oil at a record pace that could overwhelm global demand and reverse the oil market's fragile recovery, the International Energy Agency said.




Oil Down Over Concerns About Rising U.S. Output



Oil prices were mixed Tuesday, as the market digested fresh signs that U.S. crude production could cause global supply to outpace demand this year.




Trump Administration Plans to Undo Methane-Emission Rule



The administration said that it is proposing to roll back an Obama-era climate regulation aimed at cutting emissions of methane from drilling operations on federal lands.




OPEC Revises Crude Supply Forecasts on Higher U.S. Production



Booming U.S. shale production forced the OPEC oil cartel to raise its crude supply forecasts for this year but it said strengthening global demand would continue to help eat up the excess supply.




Big Batteries Are Taking a Bite Out of the Power Market



Giant batteries charged by renewable energy are beginning to nibble away at a large market: The power plants that generate extra surges of electricity during peak hours.




Bitcoin Mania Triggers Miner Influx to Rural Washington



Washington state has some of the cheapest power in the U.S. making it a magnet for bitcoin miners, who generate new units of cryptocurrencies-a process that requires vast amounts of electricity.






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