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News Highlights : Top Energy News of the Day

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01/11/2019 | 10:15 pm


OPEC Weighs a First-Ever Influence Campaign in the U.S.



Seeking improved relations with the U.S., OPEC is weighing a lobbying effort with a half-million-dollar price tag to try getting thought leaders to advocate on its behalf in the U.S.




Oil Falls But Logs Big Weekly Gain



Oil prices declined Friday, ending a nine-session streak of increases as a retreat in U.S. stock markets reduced risk appetite and spurred profit-taking.




U.S. Oil-Rig Count Falls by Four in Latest Week



The number of rigs drilling for oil in the U.S. fell by four the past week to 873 rigs, according to oil-field services company Baker Hughes.




Venezuela Misses $1 Billion Collateral Deadline to Protect Citgo



Venezuela failed to put up nearly $1 billion in collateral to ensure its U.S. crude refineries stay under state control as President Nicolás Maduro begins a new six-year term in office, a person familiar with the matter said.




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.






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