News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

France's CGG Group Files for Bankruptcy Protection

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Oil-services company CGG Group filed for bankruptcy protection in the U.S. and France after reaching a restructuring deal with lenders and bondholders that will eliminate about $2 billion in debt from the company's books.

U.S. Accuses Iranian Naval Vessel in 'Unsafe' Strait of Hormuz Encounter

An Iranian Navy vessel confronted three U.S. ships and pointed a laser at a Marine Corps helicopter over the Strait of Hormuz, U.S. military officials said, another in a series of incidents the military considers dangerous and unprofessional.

OPEC Stumbles in Face of Oil Glut

Production cuts aren't drawing oil out of storage and U.S. shale producers are humming, fueling the idea that OPEC and its allies missed the mark.

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Saudi Aramco IPO Plans Slowed Over Where to List

A divide between Saudi Arabia's ruling family and executives of the state oil company over where to list is slowing the march toward a planned 2018 IPO, which could value Aramco as high as $2 trillion.

Oil Slides to Seven-Month Low on High Inventories

Oil prices tumbled to the lowest level in seven months Wednesday, as high oil inventories continued to erode confidence in the ability of major producers to ease a global supply glut.

U.S. Oil Supplies Decline Less Than Expected

U.S. crude-oil inventories decreased by 1.7 million barrels, less than expected, while gasoline stockpiles increased by 2.1 million barrels, according to government data.

GE Power Chief Exits After Losing Succession Race

Steve Bolze, once a top candidate to be the next chief executive of General Electric, is retiring from the company in July.

Global Oil Glut Won't Subside in 2017, IEA Says

The global oil glut is here to stay through 2017 as OPEC's efforts to restrain petroleum production have hit a wall in the U.S., the International Energy Agency said.

Analysts See Average Addition to U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show natural gas stockpiles grew by 86 billion cubic feet, in line with the average for this time of year.

GenOn Energy Files for Chapter 11 Bankruptcy Protection

GenOn Energy Inc. filed for chapter 11 bankruptcy Wednesday to slash $1.8 billion in debt and settle accusations that parent NRG Energy Inc. improperly extracted over $520 million from the subsidiary.

(END) Dow Jones Newswires

June 15, 2017 04:15 ET (08:15 GMT)