News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

OPEC Boss Embraces Shift to Top Diplomat

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During a turbulent year for oil prices, OPEC chief Mohammad Barkindo has embraced a role as the global energy industry's chief diplomat, reaching beyond the group in a way few of the cloistered cartel's officials have in the past.

How American Shale Drillers Flipped OPEC's Script

When OPEC agreed to curtail production to bolster crude prices, it was betting U.S. shale drillers would be too weak to fill the void. But with Wall Street behind them, American producers have put the cartel on its heels.

Brazil's Odebrecht Energy Unit Renegotiates $5 Billion in Debt

Troubled engineering conglomerate Odebrecht SA's oil and gas arm said late Tuesday it has entered into an agreement with a group of creditors to restructure its financial debt.

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Oil's OPEC Rally Reaches New Highs

Oil prices settled at fresh one-month highs Tuesday, extending a winning streak to five sessions on optimism that the coming OPEC meeting will result in more production cuts.

Why OPEC Wants to Extend Oil Cuts: Aramco's Coming IPO

Saudi Arabia is pushing the OPEC oil cartel and other big producers to extend crude production cuts for another nine months to give a boost to the coming IPO of Saudi Arabian Oil Co.

Westinghouse Can Tap Rest of $800 Million Bankruptcy Loan

Westinghouse Electric Co. won permission to use the rest of a loan that is helping finance the Toshiba-owned company's global operations and planned restructuring in chapter 11.

Trump's Budget Cuts Would Reduce U.S. Climate Change Programs

The proposed $11.7 billion budget for the Department of the Interior raises spending for national parks and oil and gas development, while taking the ax to climate change and other science programs.

Chevron Tax Strategy Faces Crackdown

A tax dispute between Australia and Chevron has the potential to cost the company billions of dollars and open a new front in global efforts to crack down on aggressive tax strategies used by many multinationals.

U.S. Sues Fiat Chrysler Over Diesel Emissions

The Justice Department sued Fiat Chrysler and alleged the Italian-American auto maker used illegal software to cheat on government emissions tests, despite a recent proposal from the company to regulators on fixing the technology.

Glencore Makes Takeover Approach to Bunge

Glencore has made a takeover approach to grain trader Bunge, a move that would make the Swiss mining giant a major player in the U.S. agriculture market.

(END) Dow Jones Newswires

May 24, 2017 07:15 ET (11:15 GMT)