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News Highlights : Top Energy News of the Day

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05/17/2019 | 02:15pm EDT
U.S. Oil Rig Count Falls to One-Year Low 

The number of rigs drilling for oil in the U.S. fell by three in the past week to 802, its lowest level since March 2018, according to oil-field services company Baker Hughes.

Oil Inches Lower, Still Logs Weekly Gain 

Oil prices settled lower, snapping a three-session winning streak, amid trade fears and a possible increase in OPEC supply.

OPEC to Consider Easing Oil Cuts Amid Middle East Tensions 

OPEC and its allies are set to debate a potential increase in crude output at a meeting on Sunday, as they attempt to balance global oil supply amid regional tensions the Persian Gulf hasn't seen in over a decade.

Singapore's GIC Takes Stake in WaterBridge at $3 Billion Valuation 

Singapore sovereign-wealth fund GIC has bought a stake in WaterBridge Resources in a deal that values the Houston-based handler of oil-drilling wastewater at nearly $3 billion including debt.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Drilling Company Hilltop Files for Chapter 11 Bankruptcy 

Hilltop Energy, a money-losing Texas oil and gas drilling company, filed for bankruptcy Thursday with a "prepackaged" plan that hands ownership to Dallas-based Rivershore Operating and bondholder J.P. Morgan Securities

PG&E Caused Fire That Killed 85, California Concludes 

State investigators said they found that PG&E's equipment sparked the deadliest wildfire in California history, putting additional pressure on a company already facing billions of dollars in potential liability costs.

Philips's Netherlands Uses Only Green Energy 

Koninklijke Philips said that all of its operations in the Netherlands are now powered by renewable energy, following its recent opening of a wind farm in the country's southwest.

Saudi Aramco faced record demand when it is issued its debut bonds. A month on, the debt has run into a rough patch.

California Governor Pushes to Limit PG&E's Bankruptcy Extension 

Gov. Gavin Newsom is asking a bankruptcy judge to cap the amount of time PG&E is allotted to steer a course out of bankruptcy without worrying about rival restructuring proposals.

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