News Highlights: Top Energy News of the Day

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Oil futures rose sharply after energy ministers from Russia and Saudi Arabia said they would back a nine-month extension to a regime of global production cuts.

Southern Reaches Short-Term Deal With Westinghouse on Nuclear Plant

The company said it has an agreement to take over management of the Vogtle nuclear-power project and continue construction work through June 3.

Saudi Arabia, Russia Want Nine-Month Extension to Deal on Oil Output Cuts

Russia and Saudi Arabia's energy ministers said a production cut by the world's biggest oil producers should be extended by nine months to the end of March 2018.

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Battle Heats Up for Control of Refiner Citgo

Dozens of companies are lining up with claims on the one big pot of money remaining if Venezuela defaults on its debts: the assets of state-owned oil refiner Citgo Holdings.

Citgo's Worth May Be Running Dry

Creditors and companies around the world are mounting competing claims for Citgo's assets in the increasingly likely event of a Venezuelan default. But it isn't clear how much value remains.

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.

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.-China Trade Plan Hinges on Beijing's Compliance

The U.S.-China pact on greater access to the Asian giant's economy relies in part on Beijing's pledge to open markets in two areas-beef and electronic payments-that it has repeatedly promised to open before, only to continue blocking American firms.

The U.S.-China Trade Deal, Annotated

The Trump administration announced Thursday 10 measures the two governments have reached to further open markets in both countries.

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.

(END) Dow Jones Newswires

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