News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Crude Rally Continues on U.S. Output, Inventory Data

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Oil futures continued their climb for a sixth straight session as last week's drop in U.S. production stoked hopes that the slide in prices since May is starting to take a toll on the country's shale output.

BP Writes Off Exploration Assets in Angola

BP PLC said Thursday it will write off $750 million from its second quarter earnings as a result of poor exploration results in Angola, an oil-rich country that the company has touted as a pillar of its business.

Puerto Rico Utility Moves Closer to Bankruptcy

Puerto Rico declined a $450 million loan offer, according to creditors of its public power monopoly, a decision they said virtually guarantees a bankruptcy for the indebted electric utility known as Prepa.

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A New Problem for Keystone XL: Oil Companies Don't Want It

Keystone XL is facing a new challenge: The oil producers and refiners the pipeline was originally meant to serve aren't interested in it anymore.

Natural Gas Ends Lower After Five-Session Rally

Natural-gas prices settled lower as traders took profits after a five-session rally.

Don't Fight China, the Federal Reserve of Coal

State media reports China is about to restrict coal imports again, throwing a wrench into global markets for the third time in just over a year.

French Utility Engie Looking to Expand in China

Engie SA, the French utility, is seeking to expand its footprint in China, and will consider purchasing a company with existing assets in the country.

Amec Foster Wheeler to Retain European Nuclear Business

Engineering and project management consultancy AMEC Foster Wheeler said it has scrapped plans to sell its European nuclear business, but will continue with the planned disposal of its North American nuclear business.

Falling Oil Prices Can't Keep Stock Buyers Out of West Texas

Stock offerings from energy producers have slowed dramatically this year with the decline in oil prices. Yet investors still seem eager to help fund acquisitions by certain players.

GulfMark to Send Repayment Plan to Creditors for Vote

The offshore-drilling services company filed for chapter 11 in May, another victim of the decline in oil and natural gas prices.

(END) Dow Jones Newswires

June 29, 2017 16:16 ET (20:16 GMT)