News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Russia Skirts U.S. Sanctions With $27 Billion Arctic Gas Plant

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Russia is launching Yamal LNG, a $27-billion Arctic gas project that is a symbol of its efforts to overcome Western sanctions and strengthen ties with China.

BASF Agree Oil-and-Gas Merger with DEA

Germany's BASF has agreed to merge its oil-and-gas subsidiaries with rival DEA.

Natural Gas Falls as Stockpiles Build

Natural gas prices settled more than 5% lower Thursday, as government data showed an unexpected increase in stockpiles.

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GE Cuts 18% of Jobs in Power Unit After Misjudging Demand

GE said it was cutting 12,000 jobs in its power business, or nearly 20% of the unit's workforce, as the conglomerate slashes costs and battles overcapacity in its core business.

GE Brings Bad Things to Light

There still is little to celebrate at General Electric, but new management is passing early tests in its bid to clean up the mess

Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits

The shale-oil revolution boosted production and made America the world's oil-and-gas champion. Now, shareholders are insisting producers stop counting barrels and start chasing higher returns.

Ford to Move Electric Car Production to Mexico

Ford plans to produce a future electric car in Mexico, reversing plans announced in January to make its Flat Rock, Mich., assembly plant its main electric-vehicle production site.

Westinghouse Creditors Criticize Marketing Process

Major creditors of Westinghouse Electric Co. say they are concerned that their interests are taking a back seat to corporate parent Toshiba Corp., as company advisers solicit bids for the business.

Move Over, Cushing: Houston Emerges as Oil Trading Hub

Houston has long been the capital of the U.S. energy industry. Now it is vying to be the center of global oil trading, as analysts say the Houston price better reflects market dynamics for U.S. crude than Cushing, Oklahoma.

U.S. Oil Inventories Fall as Refinery Activity Surges

U.S. inventories of crude oil fell by 5.6 million barrels to 448.1 million barrels, as refinery capacity utilization increased sharply, according to data released by the Energy Information Administration. Gasoline stockpiles climbed 6.8 million barrels to 220.9 million barrels.

(END) Dow Jones Newswires

December 08, 2017 07:15 ET (12:15 GMT)