News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

An Undervalued New Player in the Energy Industry

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The merger between GE's energy business and Baker Hughes has created a new company with more profitability levers to pull than peers while trading at a discount to them.

Florida Turns to Recovery After Irma

Hurricane Irma hammered almost every inch of Florida, causing wreckage in the Keys and record flooding in Jacksonville, though the state's coasts were largely spared from the catastrophe many had feared.

Oil Edges Higher as Hurricane Concerns Ease

Oil prices settled higher as refineries planned restarts and Saudi Arabia debated the possibility of extending a deal to curb output among major producers.

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Hurricanes Add to Problems for Oil Bulls

The havoc wreaked by major summer storms stands to deepen a global crude-supply glut that has depressed oil prices. By paralyzing giant sections of the South, the storms will dent energy demand even as production continues and crude in storage is abundant.

BP Files for New York IPO of Pipeline Assets

BP PLC is moving forward with plans to float some of its vast network of U.S. pipelines in a move that would spin out cash from the company's infrastructure assets across America.

Saudis Stress Commitment to Economic Change Despite Challenges

Saudi Arabia sought to reassure its citizens and potential investors over the weekend of its commitment to a far-reaching plan to transform its oil-dependent economy, even as it acknowledged that some changes may not happen as fast as it had hoped.

GasBuddy App Scores Big During Florida Fuel Shortage

Hurricane Irma is becoming a defining moment for 17-year-old GasBuddy, as desperate drivers trying to leave Florida ahead of the storm are counting on the firm's real-time data to locate gas stations that haven't been depleted.

Struggling Venezuela Asks Russia to Restructure Its Debt

Russia said Venezuela has asked to restructure its debt, underscoring the Latin American country's financial woes and its reliance on the Kremlin.

Glencore, Qatar Sell 14% Stake in Rosneft to Chinese Energy Company

Glencore and Qatar have agreed to sell the bulk of their nearly 20% stake in Russian state-controlled oil giant Rosneft to a Chinese energy company in a deal worth about $9 billion.

U.S. Oil-Rig Count Falls by Three

The number of rigs drilling for oil in the U.S. fell by three in the past week to 756, according to oil-field services company Baker Hughes, a unit of General Electric.

(END) Dow Jones Newswires

September 12, 2017 04:15 ET (08:15 GMT)