News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Down on Investor Skepticism Over Production Cuts

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Oil prices tumbled Wednesday as investors remained skeptical that production cuts by major producers will make a dent in global crude stocks.

Arbitration Panel Rejects Gazprom's $34.5 Billion Claim in Ukraine Gas Dispute

Ukrainian state gas company Naftogaz said Wednesday that an arbitration tribunal had dismissed a $34.5 billion claim from Russian state gas giant PAO Gazprom over the terms of a disputed gas contract, marking a victory for Kiev in its efforts to reduce Russia's economic sway.

Exxon Shareholders Pressure Company on Climate Risks

Exxon Mobile shareholders delivered a major rebuke to the oil giant, calling for the company to share more information about how climate change and regulations could impact its operations.

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Frontline in Talks With Gener8 to Create World's Biggest Tanker Fleet

Frontline, the tanker major owned by Norwegian billionaire John Fredriksen, is in talks to buy or merge with Gener8 Maritime Inc., people with knowledge of the matter said.

EU Approves GE's Acquisition of Baker Hughes

General Electric secured unconditional approval from the European Union to combine its oil and gas business with Baker Hughes.

Trump Leans Toward Unwinding Climate Commitment

President Donald Trump is leaning toward unwinding a commitment to emissions cuts the U.S. made under the 2015 Paris climate accord, but he has yet to make a final decision.

Beverly Hills Loses Bid to Keep Venoco on Drill Site

The city of Beverly Hills lost a bid to force failing energy producer Venoco LLC to decommission an oil and gas drilling facility it has operated for decades on the campus of the Beverly Hills High School.

NASA Probe to Explore Sun's Atmosphere for First Time

NASA said it will launch an unprecedented mission to fly directly into the sun's atmosphere, zooming within 4 million miles of the surface and withstanding temperatures of up to 2,500 Fahrenheit.

Plans to Close Three Mile Island Highlight Struggles of Nuclear Power

Exelon Corp. warned Tuesday that it will close the Three Mile Island nuclear power plant in Pennsylvania in 2019 unless it receives government aid, the latest sign of how the sector is in danger of shrinking as it faces intense competition in the U.S.

Westinghouse Paid Former CEO Roderick $19 Million

Westinghouse Electric Co. paid Daniel Roderick more than $19 million in the year before he was pushed out as chairman of the company's board, an ouster that came days before billions of dollars of cost overruns plunged the company he led into bankruptcy.

Oil Down on Investor Skepticism Over Production Cuts

Oil prices tumbled Wednesday as investors remained skeptical that production cuts by major producers will make a dent in global crude stocks.

Arbitration Panel Rejects Gazprom's $34.5 Billion Claim in Ukraine Gas Dispute

Ukrainian state gas company Naftogaz said Wednesday that an arbitration tribunal had dismissed a $34.5 billion claim from Russian state gas giant PAO Gazprom over the terms of a disputed gas contract, marking a victory for Kiev in its efforts to reduce Russia's economic sway.

Exxon Shareholders Pressure Company on Climate Risks

Exxon Mobil shareholders delivered a major rebuke to the oil giant, calling for the company to share more information about how climate change and regulations could impact its operations.

Frontline in Talks With Gener8 to Create World's Biggest Tanker Fleet

Frontline, the tanker major owned by Norwegian billionaire John Fredriksen, is in talks to buy or merge with Gener8 Maritime Inc., people with knowledge of the matter said.

EU Approves GE's Acquisition of Baker Hughes

General Electric secured unconditional approval from the European Union to combine its oil and gas business with Baker Hughes.

Trump Leans Toward Unwinding Climate Commitment

President Donald Trump is leaning toward unwinding a commitment to emissions cuts the U.S. made under the 2015 Paris climate accord, but he has yet to make a final decision.

Beverly Hills Loses Bid to Keep Venoco on Drill Site

The city of Beverly Hills lost a bid to force failing energy producer Venoco LLC to decommission an oil and gas drilling facility it has operated for decades on the campus of the Beverly Hills High School.

NASA Probe to Explore Sun's Atmosphere for First Time

NASA said it will launch an unprecedented mission to fly directly into the sun's atmosphere, zooming within 4 million miles of the surface and withstanding temperatures of up to 2,500 Fahrenheit.

Plans to Close Three Mile Island Highlight Struggles of Nuclear Power

Exelon Corp. warned Tuesday that it will close the Three Mile Island nuclear power plant in Pennsylvania in 2019 unless it receives government aid, the latest sign of how the sector is in danger of shrinking as it faces intense competition in the U.S.

Westinghouse Paid Former CEO Roderick $19 Million

Westinghouse Electric Co. paid Daniel Roderick more than $19 million in the year before he was pushed out as chairman of the company's board, an ouster that came days before billions of dollars of cost overruns plunged the company he led into bankruptcy.

Corrections & Amplifications

This item was corrected June 1, 2017 at 11:48 a.m. because the original version incorrectly referred to Exxon Mobil as Exxon Mobile.

Exxon Mobil is misspelled "Exxon Mobile" in the story "News Highlights: Top Energy News of the Day" published at 4:15 p.m. ET on May 31 and repeated at 12:15 a.m., 4:15 a.m., 7:15 a.m. and 11:15 a.m. on June 1. The misspelling also appeared in several versions of "News Highlights: Top Company News of the Day."

(END) Dow Jones Newswires

June 01, 2017 12:15 ET (16:15 GMT)