News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

The Truth Is Catching Up With Tesla

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Tesla CEO Elon Musk is a visionary, which has endeared him to Wall Street analysts and investors alike, but there is a fine line between setting aggressive goals and misleading shareholders.

U.S. Oil-Rig Count Fell by Two in Latest Week

The number of rigs drilling for oil in the U.S. fell by two in the past week to 748, according to oil-field services company Baker Hughes Inc.

U.S. Crude Prices Fall as Another Storm Approaches

Oil prices posted their first weekly losses in a month as investors held out for signs that global crude supplies are tightening, and many anticipated that Tropical Storm Nate would curb refiners' demand for crude.

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Iran Officials Refuse to Revise Nuclear Agreement

Iranian officials are refusing to make any changes to the landmark 2015 nuclear deal signed with six world powers, as President Trump weighs whether to declare that Tehran isn't complying with the accord.

Sembcorp Marine Sells Nine Drilling Rigs for Over $1.3 Billion

Sembcorp Marine said it has signed a deal worth over $1.3 billion with Borr Drilling to sell nine jack-up oil drilling rigs.

Puerto Rico's Power Restoration Slowed by Miles of Downed Lines

Only 11% of customers have electricity as the antiquated grid, the financial straits of the local government and the island's terrain hinder the effort.

Behind Tesla's Production Delays: Parts of Model 3 Were Made by Hand

Tesla blamed "production bottlenecks" for making only a fraction of the promised 1,500 Model 3s. Unknown to analysts, investors and the hundreds of thousands of customers who signed up to buy it, as recently as early September major portions of the Model 3 were still being banged out by hand.

Shareholders Approve Ensco-Atwood Oceanics Merger

A majority of shareholders of both Ensco PLC and Atwood Oceanics Inc. gave the green light to an all-share merger of the two offshore-drilling companies.

TransCanada Nixes Two Pipelines

TransCanada Corp'. s decision to end development of two Canadian energy pipelines is another setback for Canadian energy producers, who have been clamoring to get their landlocked oil and gas to markets in Europe and Asia and reduce dependence on the U.S.

Westinghouse Seeks Up to $8.3 Million in Incentive Bonuses for Top Employees

Westinghouse Electric is seeking permission to award as much as $8.3 million in incentive bonuses to senior management and other high-level employees as it continues to navigate bankruptcy.

(END) Dow Jones Newswires

October 09, 2017 07:15 ET (11:15 GMT)