News Highlights: Top Energy News of the Day

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Oil prices ticked higher late in Asian trade, after Saudi's Energy Minister said a preliminary agreement to extend the current production cut plan had been reached, though admitted not all oil ministers were on board.

China's Oil Refiners Are Coming for Your Market Share

Like steel and aluminum before, Chinese oil refining overcapacity is spilling into global markets and depressing profits.

Woodside Quarterly Revenue Dented by Storms, Rainfall

A decline in production thanks to bad weather and a buildup in inventory weighed on Woodside Petroleum's first-quarter revenue, although the Australian energy firm stuck with its output target for the year.

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Exxon Seeks U.S. Waiver to Resume Russia Oil Venture

Exxon Mobil has applied to the Treasury Department for a waiver from U.S. sanctions on Russia in a bid to resume its venture with state oil giant PAO Rosneft in the Black Sea forged in 2012 by then-CEO Rex Tillerson, according to people familiar with the matter.

U.S. Oil Inventories Fall as Refinery Runs Speed Up

U.S. crude-oil inventories decreased by 1 million barrels, slightly more than expected, as refinery activity accelerated, according to government data. Gasoline stockpiles increased by 1.5 million barrels.

Australia Considers Cross-Continent Pipeline to Beat Gas Shortages

Prime Minister Malcolm Turnbull met with major LNG exporters including Royal Dutch Shell, Exxon Mobil and Santos to discuss ways of getting more LNG into the domestic energy market.

GM's Chevrolet Volt Electric Car Will Be Sold in China as a Buick

General Motors Co.'s Chevrolet Volt electric car is finally headed to China, but it won't be wearing the iconic bow tie badge that identifies Chevy products. It will instead be sold as a Buick.

Maxus Gets Court OK to Poll Creditors on Passaic River Cleanup

Maxus Energy won court approval to start polling creditors on a chapter 11 bankruptcy plan that tackles its obligations to help clean up the polluted Passaic River in New Jersey.

U.S. Crude-Oil Inventories Seen Down in Week

Government data are expected to show that U.S. crude-oil stockpiles decreased by 800,000 barrels in the latest week, while gasoline inventories are seen falling by 2 million barrels, according to a survey of analysts.

Cnooc Shakes Up Management

China's Cnooc shook up management following the resignation of Yang Hua, one of the country's best-known oil executives, as CEO after less than a year; he becomes chairman, while President Yuan Guangyu takes over as CEO.

Solar Cell Maker Suniva Seeks Trade Aid to Survive

Suniva will invoke U.S. trade laws as it attempts to keep its solar-cell-manufacturing business on its feet amid a flood of Southeast Asian imports.

(END) Dow Jones Newswires

April 20, 2017 04:15 ET (08:15 GMT)