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Oil prices have steadily risen in Asian trading Friday after sliding anew overnight. Focus remains on whether the OPEC-led production cuts will get rolled over.
Libya's Oil Chief Rebukes U.N.-Backed Government
A rift has opened between Libya's U.N.-backed government and its powerful National Oil Co., threatening the fractured country's political cohesion and its nascent petroleum-industry recovery.
FirstEnergy Strikes $109 Million Deal in Railroad Dispute
FirstEnergy Corp. has agreed to a $109 million settlement in one railroad transportation contract dispute but said that another pending arbitration proceeding could shorten the timetable for its power generation unit's expected bankruptcy filing.
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Australia to Limit Gas Exports to Address Energy Shortage
Prime Minister Malcolm Turnbull said steps were needed to secure gas supplies for manufacturers and households that were being drained to feed massive export facilities run by global energy companies on the east coast.
Norway Sounds Alarm on Oil-Industry Safety
Norway's oil-industry regulator raised fresh concerns about safety standards slipping in the North Sea during the competition to cut costs forced by a two-year oil-price slump.
Southern's Georgia Power Objects to Westinghouse Bankruptcy Loan
Georgia Power has taken issue with Westinghouse Electric's proposed $800 million bankruptcy loan, saying the financing could threaten the construction of the first new nuclear reactors to be built in the U.S. in decades.
Total Releases Strong First-Quarter Earnings
French oil giant Total kicked off the big oil companies' reporting season on a positive note with a 77% increase in net profit in the first three months of 2017.
Sinopec First-Quarter Profit Surges
China Petroleum & Chemical Corp. said it booked a net profit of about $2.5 billion in the first quarter, up 157.9% over a year earlier. Combined oil-and-gas production fell 2.4% in the quarter ended March 31.
Cnooc Revenue Soared in First Quarter
Cnooc, China's offshore oil producer, said that its first-quarter revenue rose 55.8% to $5.57 billion from the same period last year and attributed the increase to a rise in global oil prices.
PetroChina Swings to First-Quarter Profit
Chinese state-controlled oil-and-gas giant PetroChina said it swung to a net profit of 5.7 billion yuan ($827 million) in the first quarter from a loss of 13.79 billion yuan last year.
Oil Shortage Feared by 2020 as Discoveries Fall to Low
Global oil discoveries fell to a record low in 2016, the International Energy Agency says, raising fresh concerns about the potential for a petroleum-supply shortage.
(END) Dow Jones Newswires
April 28, 2017 00:15 ET (04:15 GMT)