News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Ticks Higher on U.S. Output Concerns

Continue Reading Below

Oil prices shifted from losses to slight gains as traders and investors took a break from selling and turned their focus from OPEC's outlook deal to supply and demand.

Georgia Power Settles with Westinghouse

Georgia Power, a subsidiary of Southern Co., said it reached a settlement with Toshiba Corp.'s Westinghouse Electric unit to get all remaining payments from the bankrupt nuclear power company.

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

U.S. crude-oil inventories are expected to show a decrease of 2.4 million barrels in data due Wednesday from the Department of Energy. Gasoline stockpiles are expected to grow by 1.7 million barrels on average, according to analysts.

Continue Reading Below

Westinghouse Formulates Chapter 11 Exit Plan

Westinghouse Electric Co. said it has begun formulating a chapter 11 plan with creditors and anticipates filing the plan with the bankruptcy court by spring.

Ponderosa Energy Files for Chapter 11 Bankruptcy

Ponderosa Energy LLC says it was driven into bankruptcy by a "fraudulent" and "usurious predatory" lender that has tried to foreclose on its properties and that reneged on a deal to pay millions of dollars in rebates to the small oil-and-gas company.

EnCap Amasses New $7 Billion Fund to Invest in the Oil Patch

Houston private-equity firm has finished raising one of the largest energy-focused funds of the year

Rio Tinto's New Chairman Needs Tech Savvy and Iron Discipline

Rio's choice as chairman-boardroom veteran Simon Thompson-will placate investors worried about a return to risky deal making. Driving growth, however, will be trickier.

Shell Strikes Deal to Develop Vast Australian Coal-Seam Gas Fields

Royal Dutch Shell has moved to unleash a massive natural-gas resource buried in coal deposits in eastern Australia in a development that will see fuel flow to its majority owned liquefied natural gas venture on the country's tropical coast.

Maersk Oil Gets Green Light For $3.2 Billion Tyra Field Redevelopment

Maersk Oil has been given the go-ahead to fully redevelop the Tyra gas field in the Danish North Sea.

Mississippi Power Signs Deal on Customers' Share of Troubled Plant

The unit of Atlanta-based Southern Co. is agreeing to lower the price tag on its Kemper County power plant by $85 million, its second round of concessions in the last two weeks, after shareholders earlier absorbed $6 billion in losses.

(END) Dow Jones Newswires

December 05, 2017 16:15 ET (21:15 GMT)