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Crude futures modestly added to overnight declines in Asia on Tuesday, with rebounding output from Libya adding to market worry about rising production in the U.S. and muted demand for gasoline.
BP Swings to Profit as Oil Sector Shakes Off Woes
BP said it swung to a profit in the first quarter, the latest big oil company to report a sharp improvement in financial performance after a years-long slump in crude prices.
Energy Stocks Stuck in a Rut Even as Profits Bounce Back
Energy shares have been the stock market's worst performer this year, weighed down by slumping crude prices even as many oil-and-gas companies return to profitability.
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Oil Company Permian Resources Reaches Debt-Restructuring Deal
Permian Resources LLC, an oil producer with ties to late wildcatter Aubrey McClendon, reached a debt-restructuring deal with a key creditor meant to relieve its heavy debt burden.
Pembina to Buy Veresen for $4.3 Billion
Pembina Pipeline agreed to buy Veresen for about $4.3 billion in a deal that combines two Canadian energy companies as prices stabilize.
Nuverra Environmental Files for Bankruptcy Protection
Nuverra Environmental Solutions, Inc. filed for chapter 11 bankruptcy protection Monday, attempting to lock in a restructuring deal with senior lenders that will leave some unsecured creditors unpaid.
EU Bolsters Support for Iran Nuclear Accord
The European Union rallied behind Iran's nuclear deal during a high-level visit to the country over the weekend, vowing to safeguard the accord despite U.S. threats to scrap it and pledging to support the Islamic Republic's economy.
Iran Signals It Is Prepared to Extend Oil-Production Cap
Iran signaled its readiness to cap its oil output until the end of the year in order to extend an OPEC-led agreement to cut production, backing Saudi Arabia's push to raise prices.
Put a Kitten in Your Tank: Big Oil Gets Less Bold
Exxon Mobil and Chevron quarterly results show a shifting emphasis that will affect big oil's results in future commodity cycles.
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.
Exxon, Chevron Earnings Point to Industry Recovery
The world's biggest oil companies are seeing their highest profits in more than a year, an early signal that they may be turning a corner on their long path to recovery.
(END) Dow Jones Newswires
May 02, 2017 04:15 ET (08:15 GMT)