News Highlights: Top Energy News of the Day

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03/24/2020 | 05:15 am
Carl Icahn
Oil Rises as Fed Supports Markets 

U.S. oil prices ended 3.2% higher in choppy trading that saw sharp moves in both directions as investors gauge the coronavirus impact.

PG&E to Plead Guilty to Manslaughter Charges in Deadly California Wildfire 

PG&E has agreed to plead guilty to felony involuntary manslaughter charges for its role in starting the deadliest wildfire in state history.

Murray Energy Moves Forward With $1.2 Billion Sale to Creditors 

Murray Energy Corp., the nation's largest privately owned coal business, is moving forward with a plan to hand itself to its senior creditors after failing to attract competing offers for its assets in bankruptcy.

Oil Collapse Sinks Hornbeck Offshore's Debt Proposal 

Hornbeck Offshore Services said it was scrapping its proposed out-of-court debt swap after the spreading coronavirus pandemic and oil price war have pushed crude prices below $24 a barrel.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Coronavirus and Oil-Price Plunge Buries Shale and Occidental's Big Bet 

The company's $38 billion acquisition of Anadarko Petroleum left it vulnerable to a calamitous glut.

Energy Giant Total Cuts Shareholder Returns, Spending After Oil Collapse 

French oil company Total will immediately cut expenditures, trim returns to shareholders and freeze recruitment as the company combats the ravages of an oil-price rout and a demand-sapping coronavirus pandemic, its CEO told staffers last week in a video message seen by The Wall Street Journal.

Occidental Nears Settlement With Carl Icahn 

Occidental Petroleum is nearing a truce with Carl Icahn that would conclude one of the highest-profile corporate clashes of the past year and usher the activist investor into the embattled oil producer's board room.

Some U.S. Energy Officials Want Saudis to Ditch OPEC 

A group of Energy Department officials are pushing the Trump administration to forge an oil alliance with Saudi Arabia, a partnership supporters say could pave the way for the Saudis to leave OPEC, according to people familiar with the situation.

OPEC, U.S. Shale Producers Open Talks Amid Oil Rout 

An industry regulator in Texas is aiming to stabilize global crude prices by starting a dialogue with OPEC's secretary-general about curbing U.S. production.


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