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Crude-oil prices settled near flat Friday, ending the week more than 3% higher, with traders expecting the global oil cartel to extend a production-cut deal when the group meets later this month.

Energy Future Backs NextEra in Bid to Save Oncor Deal

Energy Future Holdings Corp., under pressure to find a way to end a long and expensive stay in bankruptcy, is throwing its weight behind NextEra Energy Inc.'s bid to salvage its deal for the company's transmissions business, Oncor.

Some OPEC Members Seek to Broaden Efforts to Cut Oil Output

Six months after restricting their oil output in an effort to raise global crude prices, some members of OPEC are pushing to a broader effort to reduce petroleum production, say people familiar with the matter.

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China Trade Plan Is Big Deal for Natural Gas

Trump's 10-point China trade plan contains a plug for U.S. natural gas exports. Such an alignment of interests could have collateral impacts on other gas producers especially Australia and Russia.

U.S. Oil-Rig Count Rose by Nine in Latest Week

The number of rigs drilling for oil in the U.S. rose by nine to 712 in the past week, according to oil-field services company Baker Hughes.

Occidental Shareholders Vote for Climate Proposal

In a first at a major U.S. oil-and-gas company, shareholders of Occidental Petroleum Corp., voted Friday to ask that the company assess the long-term impacts of climate change on its business.

Subsea 7 Makes Bid for Bankrupt Offshore Venture EMAS Chiyoda

Europe's Subsea 7 SA would take over the struggling operations of EMAS Chiyoda Subsea Ltd., whose fleet of ships build offshore drilling projects, under a proposal filed with a U.S. Bankruptcy Court.

Eskom Reinstates Disgraced Former CEO

South Africa's state-owned energy company Eskom is reinstating its disgraced former chief executive Brian Molefe just seven months after he resigned in a corruption scandal over contracts handed out by the utility to a business family with ties to President Jacob Zuma.

Petrobras Posts Largest Profit in Two Years

Brazilian state-controlled oil company Petróleo Brasileiro SA reported its largest quarterly earnings in two years as the government continued allowing it to sell fuel at a profit in the domestic market.

Germany's SolarWorld Files for Insolvency

SolarWorld, Europe's largest independent solar energy company has filed for insolvency in Germany due to the "difficult market environment" as low-cost panels, mostly manufactured in Asia, have glutted the global market.

(END) Dow Jones Newswires

May 12, 2017 16:15 ET (20:15 GMT)