News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Rising U.S. Oil Stocks Weigh on Prices

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Oil prices extended their losing streak as rising U.S. petroleum inventories and wavering demand forecasts continued to weigh on the market.

Scana Proposes to Lower Rates After Ending Nuclear Plant Project

Scana said it would absorb some of the construction costs from its failed nuclear plant project and rollback rates for South Carolina utility customers, as it faces pressure from state regulators and consumer groups over its handling of the development.

Norway Considers Pulling Its $1 Trillion Wealth Fund Out of Oil Stocks

Norway's sovereign wealth fund said it may stop buying oil and gas stocks, a move that would deprive the energy sector of investment from a $1 trillion asset manager.

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Natural Gas Falls on Forecasts for Mild Weather

Natural gas prices ended lower for a fourth straight day, as uncertainty about weather outweighed data showing that more natural gas was withdrawn from storage than expected last week.

Mexico's Pemex to Revamp Gas Stations as Competition Steps Up

Mexico's state oil company Petróleos Mexicanos is revamping its network of franchised service stations and will use its advantages to offer competitive prices.

SandRidge Energy Confirms $746 Million Deal to Buy Bonanza Creek

SandRidge Energy said Wednesday it has reached a deal to buy Bonanza Creek Energy for $746 million in cash and stock.

Aiding Oil's Rebound: American Wildcatters Show Restraint

Oil traders and analysts have traced the market's recovery to signs of tighter supply and a return of geopolitical tensions. But many are also pointing to rising confidence that U.S. shale producers won't endlessly ramp up production.

U.S. Oil and Gasoline Inventories Unexpectedly Rise

U.S. inventories of crude oil unexpectedly increased by 1.9 million barrels for the week ended Nov. 10, while gasoline supplies also saw a surprising 894,000-barrel rise, government data showed.

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

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.

Russia Offers Venezuela Debt Relief

Russia threw a lifeline to Venezuela on Wednesday, restructuring the more than $3 billion it is owed by its economically and politically troubled South American ally.

(END) Dow Jones Newswires

November 16, 2017 16:15 ET (21:15 GMT)