News Highlights: Top Energy News of the Day

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Crude prices logged their biggest daily gains since December, after U.S. data showed that the amount of oil in storage tanks fell for the fifth straight week.

U.S. Oil Inventories Decline Sharply

U.S. crude-oil inventories decreased by a much-greater-than-expected 5.2 million barrels for the week ended May 5, while gasoline supplies also declined, government data showed.

Power Company Calpine Explores Sale

Calpine, one of the biggest U.S. power generators, is exploring a sale and is working with investment bankers at Lazard to sound out possible buyers.

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Effort to Overturn Methane Regulation Fails in Senate

Republican efforts to quickly repeal an environmental regulation from the Obama administration failed Wednesday, the first vote to not pass in the new Congress.

Occidental Petroleum to Test Supertankers in Texas

Occidental Petroleum this month plans to test whether a massive supertanker named Anne can dock at its oil terminal along Texas' Corpus Christi Bay.

Dispute in Libya Affects Wintershall Oil Production

A dispute between two arms of the Libyan state has ensnared German oil company Wintershall dragging down Libya's crude production and creating a new obstacle in the country's attempt to revive its oil industry.

BP Begins Gas Production from Egypt Fields Ahead of Schedule

BP said it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt, adding that the project was delivered eight months ahead of start-up schedule and under budget.

Future of Fuel-Efficient Diesel Vehicles in U.S. Market Dims

The prospect for efficient diesel cars in the U.S. is dimming, with Mercedes-Benz becoming the latest auto maker to say it is backing off the technology because of regulatory scrutiny and a lack of consumer demand.

Eni Profit Jumps on Oil Price Rebound

Eni's profit more than tripled in the first quarter as the Italian oil company, like its larger peers, benefited from a surge in the price of crude.

SunEdison Shareholders Seek Greater Transparency

A group of SunEdison Inc. shareholders say they deserve more information about how the solar-power company lost billions of dollars of investor money, most likely leaving them with nothing.

(END) Dow Jones Newswires

May 10, 2017 16:15 ET (20:15 GMT)