Oil Gains After Canda-U.S. Keystone Pipeline Was Briefly Halted

Oil prices were higher after reports that operations at TC Energy's Keystone pipeline were partially suspended on Thursday, restricting a crucial conduit for carrying Canadian crude to the U.S. Midwest and Gulf Coast. 


 
BP Claws Back $2.3 Million From Ex-CEO

BP clawed back a further $2.3 million from ex-boss Bernard Looney's remuneration package following his dismissal in December. 


 
Power Lines Sparked Largest Wildfire in Texas History

Xcel Energy said it believes its own facilities have been involved in starting massive wildfires still raging in Texas. 


 
Exxon Files for Arbitration Over Chevron's Deal for Hess

Dispute involving a stake in an oil project in Guyana intensifies, threatening to scuttle Chevron's $53 billion deal to buy Hess. 


 
U.S. Crude Oil Stocks Rose by 1.4 Million Barrels Last Week

U.S. crude oil inventories rose by 1.4 million barrels, edging out expectations for a rise of 1.3 million barrels. 


 
GE Spinoff Vernova Predicts Doubling of Electricity Production

Power-generation firm GE Vernova provided some guidance to investors and analysts. Jefferies analyst Sheila Kahyaoglu reckons each share is worth about $112. 


 
Tullow Oil Profit Plunges

Tullow Oil reported a 78% fall in profit for 2023, hit by impairments and write-offs totaling $435 million, but backed its output guidance for the year ahead. 


 
Chevron Plant Closures Show Clean Fuel's Tough Economics

The biodiesel business has been hurt by falling prices for government-controlled credits. 


 
Saudi-Led Oil Producing Nations Extend Output Cuts

Saudi Arabia, United Arab Emirates, Kuwait, and Algeria all decided to extend their voluntary production cuts through the end of June, instead of easing them at the end of March. 


 
Gunvor Unit to Pay $661 Million After Pleading Guilty in Bribery Scheme

The U.S. Justice Department said that Gunvor SA was charged with conspiring to bribe officials of Ecuador's state-owned oil company in order to obtain contracts to buy oil products.


(END) Dow Jones Newswires

03-08-24 0715ET