News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Carlyle Eyes Varo Energy IPO Valuing It at Around $2 Billion

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Varo Energy's owners, including U.S. private equity giant Carlyle Group and commodities trader Vitol Group, are eyeing an initial public offering next year that could value the European oil refiner around $2 billion, said people familiar with the matter.

SandRidge Energy Nears Deal to Buy Bonanza Creek Energy

SandRidge Energy Inc. is nearing an agreement to buy Bonanza Creek Energy Inc. for about $750 million, according to people familiar with the matter.

CFTC Fines Norway's Statoil, Citing Market Manipulation

The U.S. Commodity Futures Trading Commission said Tuesday that it fined Norway's Statoil ASA $4 million for attempting to manipulate energy markets in 2011.

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Oil Prices Drop on Lower Demand Forecast

Oil futures tumbled Tuesday as the International Energy Agency lowered its forecast for demand, calling into question a key element of oil's recent rally.

Puerto Rico Utility Spurned Advice on Whitefish Deal

Puerto Rico's power company didn't follow its lawyers' advice when it agreed to a $300 million grid-construction contract with Whitefish Energy Holdings.

U.S. Crude-Oil Supplies Seen Decreasing in DOE Data

U.S. crude-oil inventories are expected to show a decrease of 1.4 million barrels. in data due Wednesday from the EIA. Gasoline stockpiles are expected to fall by 1.1 million barrels on average.

Oil-Price Recovery Threatened by Weak Demand, Says IEA

The International Energy Agency has lowered its global oil demand forecasts for this year and next, in contrast to OPEC, which has just raised them.

As Seadrill Foundered, Lawyers, Executives Profited

Battered offshore oil-and-gas contractor Seadrill paid bankruptcy professionals well over $100 million before it stepped through the door of a Texas court in September, seeking chapter 11 protection from creditors.

The Real 'War on Coal' Is in China

China's president Xi Jinping has made a commitment to a "better" - not just richer - life for Chinese citizens. That, combined with slowing industry in China, spells trouble for the dirtiest type of fuel.

Venezuelan Bonds Fall After Default Determination

Venezuelan bonds, already trading at distressed levels, fell on Tuesday after a credit-rating firm a day earlier declared the nation in default on missed interest payments.

(END) Dow Jones Newswires

November 15, 2017 04:15 ET (09:15 GMT)