News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Waver Ahead of Crude Market Data

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Oil prices were mixed ahead of the release of two highly anticipated reports on global crude supply and demand.

Saudi Aramco on Track for IPO in 2018, CEO Says

Amin Nasser, the chief executive of Saudi Arabian Oil Co., said that the oil giant was on track with its planned initial public offering for 2018, though he didn't elaborate on the timing and where the listing would take place.

Saudi Aramco Cuts November Crude-Oil Allocation

Saudi Arabia has cut its crude-oil allocations for November by 560,000 barrels per day, an energy ministry spokesman said, despite strong demand from international seaborne customers and as the kingdom tries to rein in a global supply glut.

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The Truth Is Catching Up With Tesla

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.

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.

(END) Dow Jones Newswires

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