News Highlights: Top Energy News of the Day

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Oil prices rebounded Friday, settling higher after traders closed out a recent raft of bearish bets.

Exxon Profit Jump a Sign of Strengthening Oil Companies

Exxon Mobil's profit more than doubled in the first quarter of the year as the oil and gas giant signaled a strengthening in business amid a reprieve in commodity price depression.

Appeals Court Delays Case on Obama EPA Greenhouse Gas Rules

A federal appeals court put on hold a blockbuster case examining the Obama administration's signature environmental rules limiting greenhouse gas emissions from power plants, a boost for the Trump administration.

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NextEra May Face Elliott Management in Deal Talks on Oncor

As NextEra Energy Inc. looks to salvage the $18.7 billion deal to buy Oncor Electric Delivery Co., the profitable operating subsidiary of bankrupt Energy Future Holdings Corp., the company will have to find a way to appease Paul Singer's Elliott Management Corp., which has recently taken a big position in Energy Future's debt, according to people familiar with the matter.

Norway Oil Fund Closes on $1 Trillion Valuation

Norway's sovereign-wealth fund, the world's biggest, moved closer to a $1 trillion valuation after announcing a 3.8% return on its investments in the first quarter of this year, helped by a strong performance from its stock-market portfolio.

Trump Signs Executive Order Easing Offshore-Drilling Regulations

President Donald Trump signed an executive order Friday to ease regulations on offshore drilling and eventually allow more to occur, particularly in the Arctic Ocean.

U.S. Oil-Rig Count Rises by Nine

The number of rigs drilling for oil in the U.S. rose by nine in the past week to 697, according to oil-field services company Baker Hughes Inc.

BP Earnings: What to Watch

BP is set to announce its first-quarter earnings before Tuesday's market open in London. A few deals at the end of last year should have already had an impact on the company's production volumes.

U.K. Regulator Launches Probe of KBR Tied to Unaoil

The U.K. Serious Fraud Office said it has opened an investigation into the local units of engineering company KBR Inc. over suspicions of bribery and corruption linked to its relationship with Monaco-based Unaoil S.A.M.

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.

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.

(END) Dow Jones Newswires

April 28, 2017 16:15 ET (20:15 GMT)