News Highlights: Top Energy News of the Day

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Crude futures pulled back on Thursday as investors focused on U.S. inventories falling less than expected, deepening skepticism that production cuts from the Organization of the Petroleum Exporting Countries aren't making a big enough dent in elevated global stockpiles.

Big Oil Gets In Early on Argentina Shale

Shell, Exxon Mobil and other oil companies are making another go at taking the shale industry global, and starting their grand experiment in Argentina.

Shell Profit Soars as Oil Sector Bounces Back

Shell reported a sharp increase in quarterly profit, rounding off a bumper set of results for the world's biggest oil companies as cost-cutting and a fragile recovery in oil prices begin to pay off.

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Australia to Block Elliott's Plan to Move BHP Billiton's Listing to London

Australia's government warned it would block moves being orchestrated by activist investor Elliott Management to shift mining giant BHP Billiton's stock listing from Australia to the U.K.

Mexico's Pemex Chalks Up Second Straight Quarterly Profit

Mexican state oil company Petróleos Mexicanos started the year with its second consecutive quarterly profit after several years in the red thanks to higher oil prices, cost reductions and exchange gains from a stronger Mexican peso.

Anadarko Tried to Be a Good Neighbor. Then a Home Exploded

Anadarko's CEO said Wednesday he was 'saddened by tragic events' after a fatal gas blast was linked to a nearby natural-gas well. The oil and gas company's shares fell 9%.

British Oil and Gas Industry Could Face $646 Million Brexit Bill

The U.K.'s decision to leave the European Union could cost Britain's oil and gas companies an extra 500 million pounds a year, an industry lobby group warned.

Southern Seeks $3.7 Billion From Toshiba for Nuclear Plant

Southern Co.'s CEO said the utility will need $3.7 billion and cooperation from Toshiba to complete a nuclear power plant in Georgia that was being built by bankrupt Toshiba unit Westinghouse Electric.

SEC Probes Solar Companies Over Customer Cancellations

Federal regulators are investigating whether solar-energy companies are masking how many customers they are losing, according to a person familiar with the matter.

Rising Rates May Trip Oil Companies

U.S. oil companies have proven remarkably resilient even during a prolonged season of lower oil prices, but rising interest rates could limit their growth and profitability.

U.S. Oil Inventories Decline Less Than Expected

U.S. crude-oil inventories decreased by 930,000 barrels, less than expected, according to government data. Meanwhile, gasoline supplies moderately rose by 191,000 barrels, also less than expected.

(END) Dow Jones Newswires

May 04, 2017 07:15 ET (11:15 GMT)