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News Highlights : Top Energy News of the Day

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01/11/2019 | 05:15 pm


Oil Falls, But Set for Big Weekly Gain



Oil prices declined as a retreat in U.S. stock markets reduced risk appetite and spurred profit-taking, but they remain on track for an 8% weekly gain.




SemGroup, KKR Team Up to Buy Meritage Midstream



KKR & Co. and SemGroup are teaming up on energy infrastructure investments in Canada and launching a new joint venture that will purchase an oil and gas pipeline company for $449 million.




Don't Take Stock in Oil's Rebound



The return of risk appetite has lifted crude oil and stocks in tandem, but the fundamental reasons to push oil even higher look iffy.




America's Electric Grid Has a Vulnerable Back Door-and Russia Walked Through It



A Wall Street Journal reconstruction of the worst known hack into the nation's power system reveals attacks on hundreds of small contractors. The hackers then worked their way up the supply chain. Some experts believe two dozen or more utilities ultimately were breached.




Natural Gas Edges Lower as Stockpiles Near Average Levels



Natural-gas prices settled lower Thursday, reversing earlier gains from a larger-than-expected storage withdrawal.




ABB Bets Simplified Structure Will Cut Costs, Boost Profit



Industrial giant ABB is putting more power in the hands of its business leaders and reducing head count at its corporate office in a bid to boost its profit margin and cut $500 million a year in costs.




Saudi Arabia Announces Increased Crude Oil Reserves in Rare Release



Top oil exporter Saudi Arabia announced a slight rise in its crude oil reserves after an independent audit, the first time in decades the kingdom has released any of its closely guarded field data.




Saudi Aramco to Issue Bonds in Second Quarter



State-owned Saudi Aramco will issue bonds in the second quarter of 2019 and the firm will be listed 2021, the kingdom's energy minister said Wednesday.




Fuel Crisis Hits Mexico After Pipelines Are Closed



Mexico faced a mounting problem as gasoline shortages spread across the country after the government closed several fuel pipelines to prevent theft by organized crime groups.




U.S. Oil Inventories Decline Moderately



U.S. inventories of crude oil decreased by 1.7 million barrels to 439.7 million barrels last week while gasoline and other fuel inventories rose sharply, according to data released by the Energy Information Administration.






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