News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Elliott Preps for Potential Fight With Hess, Seeking CEO Ouster

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Elliott Management Corp. is preparing for a possible tussle with Hess Corp., hoping to either remove John B. Hess as chief executive or push him to consider selling all or part of the energy company.

Cobalt International Energy Files for Bankruptcy

Cobalt International Energy filed for bankruptcy as it deals with the failed sale of operations in Angola and a prolonged downturn in the oil exploration and production industry.

Trump's Pick to Oversee Chemical Safety at EPA Withdraws

President Trump's pick to oversee chemical safety at the Environmental Protection Agency, Michael Dourson, has withdrawn from consideration.

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Oil Prices End Higher

Oil prices settled higher, as a major pipeline outage outweighed increasing crude supply.

Natural Gas Declines on Bearish Weather

Natural gas prices settled lower Thursday, pulled down by mild weather and rising production.

Warburg Pincus Group Invests $780 Million in Texas Shale Startup

A group led by Warburg Pincus agreed to invest $780 million in an oil-exploration company, one of the largest private equity investments in a shale startup.

World Oil Supply Hits Year High, Boosted by U.S. Shale Surge

Shale producers are roaring back to life, pushing the global oil supply to its highest level in a year and undermining OPEC's efforts to rebalance the market, the International Energy Agency said.

Australia Deals Blow to BP's Post-Spill Recovery Plans

BP suffered a setback to its post-Deepwater Horizon plans after the Australian government said it would block a $1 billion deal that would have made it the country's dominant consumer-fuel retailer.

OPEC Oil Output Falls to Six-Month Low but U.S. Fills Gap

OPEC production fell to its lowest in six months but rival U.S. production was surging faster than expected, meaning oil markets may not rebalance before the end of 2018, the oil cartel said in its closely watched monthly oil report.

U.S. Oil Inventories Decline Sharply

Crude-oil stockpiles fell by 5.1 million barrels to 443 million barrels, for the week ended Dec. 8, and are now in the middle of the average range for this time of year, the EIA said. Analysts surveyed had predicted crude supplies would fall by 2.9 million barrels on the week.

(END) Dow Jones Newswires

December 15, 2017 00:15 ET (05:15 GMT)